What is the Small Estate Law in Idaho?
Full Question:
Answer:
The answer will depend on whether there are is a joint owner of the bank account or a named benficiary. In such a case, the assets may be transferred directly to the surviving joint owner or named beneficiary outside the probat eprocess. An estate may go through small estate administration and collect property by affidavit in Idaho when:
(1) the fair market value of the entire estate of the decedent which is subject to probate, wherever located, less liens and encumbrances,does not exceed one hundred thousand dollars ($100,000);
(2) thirty (30) days have elapsed since the death of the decedent;
(3) no application or petition for the appointment of a personal representative or for summary administration is pending or has been granted in any jurisdiction; and
(4) the claiming successor is entitled to payment or delivery of the property, including entitlement as a trust pursuant to a will of the decedent.
Summary administration is available when it appears from the inventory and appraisal that the value of the entire estate, less liens and encumbrances, does not exceed homestead allowance, exempt property, family allowance, costs and expenses of administration, reasonable funeral expenses, and reasonable and necessary medical and hospital expenses of the last illness of the decedent.
Joint tenancy is a form of ownership by two or more individuals together. It differs from other types of co-ownership in that the surviving joint tenant immediately becomes the owner of the whole property upon the death of the other joint tenant. State law, which varies by state, controls the creation of a joint tenancy in both real and personal property. Joint tenancy property passes outside of probate, however, it may be severed so that the property becomes part of one person's estate and passes to that person's heirs. .
Tenants in common hold title to real or personal property so that each has an "undivided interest" in the property and all have an equal right to use the property. Tenants in common each own a portion of the property, which may be unequal, but have the right to possess the entire property. There is no "right of survivorship" if one of the tenants in common dies, and each interest may be separately sold, mortgaged or willed to another. A tenancy in common interest is distinguished from a joint tenancy interest, which passes automatically to the survivor. Upon the death of a tenant in common there must be a court supervised administration of the estate of the deceased to transfer the interest in the tenancy in common.
Please see the following Idaho statutes:
15-3-1201. Collection of personal property by affidavit. —
(a) Thirty (30) days after the death of a decedent, any person indebted
to the decedent or having possession of tangible personal property or an
instrument evidencing a debt, obligation, stock or chose in action
belonging to the decedent shall make payment of the indebtedness or
deliver the tangible personal property or an instrument evidencing a debt,
obligation, stock or chose in action to a person or entity claiming to be
the successor of the decedent upon being presented an affidavit made by or
on behalf of the successor stating that:
(1) The fair market value of the entire estate of the decedent which is
subject to probate, wherever located, less liens and encumbrances, does
not exceed one hundred thousand dollars ($100,000);
(2) Thirty (30) days have elapsed since the death of the decedent;
(3) No application or petition for the appointment of a personal
representative or for summary administration is pending or has been
granted in any jurisdiction; and
(4) The claiming successor is entitled to payment or delivery of the
property, including entitlement as a trust pursuant to a will of the
decedent.
(b) A transfer agent of any security shall change the registered
ownership on the books of a corporation from the decedent to the successor
or successors upon the presentation of an affidavit as provided in
subsection (a) of this section.
(c) For the purposes of this section, for the recovery of medical
assistance, the department of health and welfare shall be deemed a
successor to the estate provided:
(1) Prior to the presentation of the affidavit, the department shall give
notice, by regular mail, to any person known to the department to be an
heir, successor or creditor of the estate, and the department shall
certify such notice in writing to the person described in subsection (a)
of this section.
(2) Within sixty (60) days of mailing the notice, any person who claims
the right to reimbursement for priority estate expenses, as permitted by
section 15-3-805(a)(1) through (4), Idaho Code, may submit a written
demand for payment of such expenses, together with any documentation of
the expenses, to the department. Upon receipt of the funds, and up to the
amount received, the department shall pay priority claims which it
determines would be allowed in a probate proceeding, if any. The
department shall notify each claimant of the disposition of his claim. The
provisions of chapter 52, title 67, Idaho Code, shall apply to
determinations made by the department under this section.
15-3-1205. Summary administration of estates in which a surviving
spouse is the sole beneficiary. —
(a) Upon the testate or intestate death of a person leaving a surviving
spouse as the sole devisee or beneficiary, the surviving spouse (or any
person claiming title to any property through or under such surviving
spouse) may file a verified petition setting out marriage and the death of
a person leaving a surviving spouse as the sole devisee or heir. If the
decedent died testate, the petition must be accompanied by the original of
the last will and testament of the decedent. Notice of hearing shall be
given pursuant to the provisions of section 15-1-401, Idaho Code.
(b) If it shall appear at such hearing that the decedent and the person
claimed to be the surviving spouse were duly married and that the
surviving spouse is the sole heir or devisee, a decree shall be made to
that effect. This decree shall thereafter have the same effect as a formal
decree approving or determining distribution. The petitioner, or the
surviving spouse, or both, need not appear in person at such hearing, nor
must an attorney for the petitioner spouse appear in person at such
hearing. The petitioner or the attorney for the petitioner, or both, may
either:
(1) Upon proper motion made by the petitioner, appear telephonically; or
(2) Submit one (1) or more affidavits in advance of the hearing
certifying that notice of hearing was given as required by law and that no
objection to the entering of the decree has been received by the
petitioner or the attorney for the petitioner.
(c) In the event that the surviving spouse (or person claiming through or
under the surviving spouse) shall elect to proceed under this section, the
surviving spouse shall assume and be liable for any and all indebtedness
that might be a claim against the estate of the decedent and there will be
no administration of the estate of the decedent.
15-3-1203. Small estates — Summary administrative procedure. —
If it appears from the inventory and appraisal that the value of the
entire estate, less liens and encumbrances, does not exceed homestead
allowance, exempt property, family allowance, costs and expenses of
administration, reasonable funeral expenses, and reasonable and necessary
medical and hospital expenses of the last illness of the decedent, the
personal representative, without giving notice to creditors, may
immediately disburse and distribute the estate to the persons entitled
thereto and file a closing statement as provided in section 15-3-1204 of
this Part.
