Alaska Court System Self-Help

A small estate is a type of informal probate. If the personal representative in an informal probate does an accounting and the estate is small enough, it may qualify as a “small estate.” Small estates start as an informal probate but can be closed with fewer requirements than a regular informal probate. To determine if the estate qualifies as a small estate, you first file an informal probate case. Read about informal probate.

To determine if the estate qualifies as a small estate, you first file an informal probate case. In an informal probate the Personal Representative must prepare an Inventory of all the estatel property within three months of being appointed Personal Representative. To determine if the estate qualifies as a small estate, follow these steps:

1. Prepare the inventory by adding the value of each item of the estate property. Subtract the liens on the property and debts. This is the estate value.
2. Add up these allowances and subtract these costs:
   • Homestead Allowance
   • Family Allowance
   • Exempt Property
   • Probate costs
   • Funeral costs
   • Medical costs of the person's last illness
3. If the value from Step 2 is larger than the estate value from Step 1, the estate qualifies as a small estate.

For a small estate, the Personal Representative must follow all of the steps in the informal probate process, except the Personal Representative:

• doesn’t need to give Notice to Creditors or pay creditor claims
• can immediately transfer the property to those who are supposed to receive it under a Will or through intestacy (when there is no Will). Read about transferring ownership of assets
• must file a special Closing Statement after the property is transferred called a "Sworn Statement of Personal Representative Closing Small Estate" that asks the court to close the probate and end the appointment as Personal Representative.

The Personal Representative can immediately transfer the property to those who are supposed to receive it under a Will or through intestacy (when there is no Will). Read about transferring ownership of assets. The Personal Representative doesn’t need to give Notice to Creditors or pay creditor claims. However, the Personal Representative must take all other probate steps, including preparing an Accounting or asking for waivers of the Accounting, and filing tax forms with the IRS.

Once all required steps in a small estate are complete, the Personal Representative must also file a Sworn Statement of Personal Representative Closing Small Estate, P-350.

To ask the court to close the probate and end your appointment as Personal Representative, you can file:

Sworn Statement of Personal Representative Closing Small Estate, P-350.

The Sworn Statement tells the court:

• The value of the estate, after subtracting liens and debts against the property, is not more than the combined total of the following: property, Family Allowance, Exempt Property, probate costs, funeral costs and medical costs of the person's last illness.
• You completed the probate by transferring the property of the person who died to the persons who were supposed to receive it.
• You sent a copy of the Sworn Statement to all persons who received property from the estate and to all interested persons whose claims were unpaid.
• You sent an Accounting to all persons affected by the accounting. If these persons waived their rights to an accounting, you must file the waivers with your Sworn Statement.

*Important: You must sign a verification under oath saying that all of these statements are true and complete to the best of your knowledge and belief. You can do this before a notary or clerk. Notary services are available for free at all court locations.

If you have any questions, you should talk to a probate lawyer.

You will keep your powers as Personal Representative for one year after you file the Closing Statement. If there are no court proceedings at the end of the year, your appointment automatically ends. No court hearing is needed.