In general, when someone dies, the estate must go through probate which can be a complicated and lengthy process. But many states provide less complicated options for smaller estates.

Virginia law provides for simplified probate when the value of an estate that consists only of personal property does not exceed $50,000.00. Heirs or beneficiaries who are to inherit property from the decedent may use an affidavit identifying the assets they are entitled to.  After a waiting period of 60 days, the beneficiaries simply present the affidavit to the holders of the decedent’s property and it will be transferred to them.

 This procedure may also be used when amounts of less than $15,000 are due the decedent:

• for wages
• for union death benefits
• for state or federal benefits
• for securities
• from a trust or estate or
• for a vessel registered with the U.S. Bureau of Customs.