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Small Estate Affidavit

The Story: Roger’s sister, Linda, died leaving a probate estate, consisting of a financial account. Roger believes the account is less than $50,000 in value. Roger wants to use a Small Estate Affidavit to dispose of Linda’s estate, without opening a probate estate, but he isn’t sure of the value of the account. Question: How does Roger get the financial institution to tell him the date of death value of Linda’s account? Answer: The Indiana statute IC 29-1-8-1.5 provides a process whereby a person having possession of a decedent’s property must provide the date of death value of the property to person presenting a properly executed affidavit with the required information, within three (3) business days after being presented with the affidavit. The refusal to provide the properly requested information within three (3) business days, exposes the person to liability for treble damages, attorney fees and court costs.

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