When an Idaho resident passes on without specifying how their estate should be shared, the local regulations come into force. The Idaho Small Estate Affidavit Form is created to simplify the decedent’s property transfer process and protect the descendant’s interests.
The Idaho Small Estate Affidavit Form, or Form CAO Pb 01, can be used only if the property item is not real estate and if its value does not exceed $100,000.
The small estate affidavit form operates within the Idaho state law framework and allows descendants to transfer ownership of the estate without going to the probate courts.
The main legal document containing all details and requirements on Idaho’s property transfer process is Idaho Statutes.
Requirements on the estate inheritance process are declared in the Idaho Statutes:
Provide the Decedent’s Details
Write down the name, the date and place of death, and the county where the decedent was a resident at the time of death.
State the Value of the Property
Enter the total value of the estate with the exception of the mortgage and pledges. Remember that the total sum cannot exceed $100,000.
Confirm the Acceptance of the Terms
Confirm that you understand the estate transfer process can be initiated only 30 days after the demise. Also, verify that no application for the summary administration is in the jurisdiction when the affidavit form is completed.
Enter the Descendants’ Details
Write down each heir’s namer and in what proportion they claim the estate left by the decedent.
Acknowledge the Record
Append your signature and write your name and the current date in the presence of a notary public for verification afterward.
Deliver the Completed Form
Give the completed affidavit form to those obtaining the deceased’s property.
Note that you can also complete a vehicle transfer form, which you need to register with the Transportation Department.