Disclaimer: This article provides general information under Mississippi law. It is not legal advice.
Detailed Answer
Under Mississippi law, you may use a small estate affidavit to collect certain assets when the decedent’s personal property (minus liens and encumbrances) does not exceed $100,000. See Mississippi Code § 91-7-125. To prepare and file a valid small estate affidavit, gather the following documents:
- Certified Death Certificate: Obtain a certified copy of the decedent’s death certificate.
- Affidavit Form: Use the county’s approved small estate affidavit form. Many chancery clerk websites provide a template.
- Heirship Affidavit or Proof of Heirship: Identify all heirs. A separate affidavit of heirship may be required if the court needs more details on family relationships.
- Inventory of Assets: Prepare a detailed list of the decedent’s personal property and its fair market value. Include bank accounts, vehicles, household items, and investment accounts.
- Proof of Notice to Creditors: Show that you published or mailed notice in accordance with the waiting period under Miss. Code Ann. § 91-7-281.
- Renunciation of Personal Representative (if applicable): If someone was appointed but renounced the role, include the signed renunciation.
- Oath and Notarization: Execute the affidavit under oath before a notary public.
- Court Filing Fees: Check with the chancery clerk for current filing fees and acceptable payment methods.
Once you file the affidavit with the chancery clerk’s office in the county where the decedent resided, you may present certified copies of the filed affidavit to institutions holding the assets. Financial institutions typically release funds upon receipt of a certified filed affidavit.
Helpful Hints
- Verify Asset Values: Use recent statements or appraisals to support asset values.
- Use Official Forms: Download forms from the local chancery clerk’s website to avoid mistakes.
- Meet Waiting Periods: Allow at least 30 days for creditors to file claims before distribution.
- Keep Copies: Maintain copies of all submitted documents and filings.
- Consult an Attorney: If you face disputes or complicated assets, seek legal guidance.