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There is no set minimum legal threshold for estates to avoid probate. Each bank or institution sets its own limit. This dictates whether family and loved ones of the deceased will require a Grant of Probate to access the funds held in the particular institution.
Estate administration is a legal process to settle the affairs of a person who passed away. Through this process, their debts are settled, and their assets are distributed. There may be other matters to resolve as well, such as who gets custody of their minor children.
Kentucky probate law allows some probate estates valued at no more than $30,000 (and sometimes a little more depending on the facts) and having no real estate to be administered through a simplified process called Dispense with Administration.
A: The minimum value of an estate for probate will vary by state. However, in California, estates valued at more than $166,250 must enter into the probate process.
Thus, a simple estate can be settled in as short a time as six months. All estates are settled within two years unless extenuating circumstances create a need to petition the court for an extension of time.
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Most Estates Must Go Through Probate If the person passes without a will, the property is distributed in ance with Kentucky statutes that control who inherits the decedents estate. Most Kentucky estates must go through the probate court.
A formal settlement must include a detailed record of all receipts and disbursements accompanied by canceled checks. A formal settlement must reflect the distribution to the heirs of their respective bequests.
In Kentucky, an estate must have a gross value of at least $30,000 before it is subject to probate.

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