A minor property is a small property that may be handed on with out going by means of the probate course of. Every state has its personal definition of what constitutes a minor property, however it sometimes contains estates price lower than $100,000. In some instances, the restrict could also be as excessive as $250,000. There may be limits on the sorts of belongings that may be included in a minor property, similar to actual property or retirement accounts.
There are a number of advantages to claiming a minor property. First, it might probably save money and time. The probate course of will be prolonged and costly, and it might probably take months and even years to finish. Claiming a minor property lets you keep away from these delays and prices.
