Are There Alternatives To The Formal Administration Of Probate

Formal administration makes up the vast majority of probates, but there are other alternatives. A person can do a summary administration if the decedent had less than $75,000 in assets minus any exempt assets, or has been deceased for two or more years. There’s also a very abbreviated process for a person that had no real assets. In that case, the small amount of assets available can be used to cover funeral expenses.