For example, in both Florida and Tennessee, a motor vehicle can be transferred to the decedent’s heirs at law without opening a probate estate. Aside from this, some states have a streamlined process for “small estates” that takes significantly less time than a full probate administration. In Florida, a small estate is considered to be valued at $75,000 or less. The “small estate” procedure mentioned above also applies to a tenant in common interest as long as the decedent’s fractional share is valued at less than the applicable state’s small estate cut-off amount. Note that if the tenant in common interest was retitled into the name of the decedent’s Revocable Living Trust before the decedent dies, then the interest won’t need to be probated. The “small estate” procedure mentioned above also applies to an account or policy without a valid beneficiary as long as the account or policy is valued at less than the applicable state’s small estate cut off amount. The “small estate” procedure mentioned above also applies to an interstate estate as long as the value of the decedent’s property is less than the applicable state’s small estate cut-off amount. The “small estate” procedure mentioned above also applies to a testate estate as long as the value of the decedent’s property is less than the applicable state’s small estate cut off amount.
