Settling Small Estates (UT)

Requirements

To use the small estate process, the following conditions must be true:

• The estate has a gross value <$100K
• At least 30 days have passed since the death
• No petition has already been made to the court to officially appoint a personal representative

In determining the gross value of the estate, you should value assets as of the date of death, and ignore any unsecured debts. Do not include any assets that would not normally go through probate, such as community property with right of survivorship, assets with named beneficiaries (e.g., 401Ks, life insurance policies), and other standard probate exclusions.

Process

To use the small estate process:

1. Prepare a Small Estate Affidavit, and have it notarized
2. Obtain possession of estate assets by presenting the affidavit to current custodians (this affidavit cannot be used to collect real estate)
3. Settle the estate in the normal way (pay debts, distribute remaining assets)
4. If the estate includes any vehicles, you must also submit a Survivorship Affidavit (Form TC-569C).

Requirements

You can use summary administration (also known as simplified probate) if it appears that the value of the entire estate does not exceed the sum of the following:

1. Family entitlements (other than a spousal elective share)
2. Estate administration expenses
3. Reasonable and necessary medical and hospital expenses of the decedent's last illness

In determining the value of the estate, you should value assets as of the date of death. Ignore any unsecured debts (such as credit cards), but do account for secured debts such as mortgages (i.e., if a house is worth $150K and has a $130K mortgage, the house would contribute $20K to the estate value). Do not include any assets that would not normally go through probate, such as community property with right of survivorship, assets with named beneficiaries (e.g., 401Ks, life insurance policies), and other standard probate exclusions.

Process

To settle an estate via summary administration:

1. Submit an Application for Probate or an Application for Probate without a Will to the court
2. Submit Waiver of Notice forms for every heir (or notify any heirs not included)
3. Upon approval, the court will appoint you personal representative for the estate, and give you your "Letters"
4. Use your "Letters" to collect the assets
5. Settle the estate by honoring any family entitlements and paying the debt listed in the Requirements section (to the extent possible)
6. Prepare a final accounting of all estate finances (consider using the EstateExec Accounting Report)
7. File a Closing Statement with the court, and send a copy to all interested parties (see below)
8. If no actions or proceedings involving the personal representative are pending in the court one year after you file the closing statement, your appointment as personal representative terminates

Closing Statement

The Closing Statement is a document that includes:

• A list of all estate assets and values (consider attaching an EstateExec Inventory Report)
• A statement, that to the best of your knowledge, the estate value did not exceed the items listed in the Requirements section
• A statement that you fully administered the estate by disbursing and distributing it to the persons entitled
• A statement that you sent a copy of the closing statement to all distributees and to all creditors or other claimants of whom you are aware whose valid claims were not paid, and that you have furnished a final estate accounting report to the distributees whose interests were affected