What is an estate?

We have to fill out an Affidavit for Collection of Property for Small Estates in order to collect on an insurance policy. What is the “estate”? My husband’s mother had no property, just some furniture and household items, which we have no idea what it would be valued at. Furthermore, she died almost 4 years ago. She had approximately 75K which was divided 5 ways. In our state, 50K or less qualifies as a small estate. So is the money considered the “estate”?

Asked on March 1, 2012 under Estate Planning, Minnesota


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