Examples of the $100,000 Test

1.

Personal Property = $100,000

Real Property = 0

Value of probate assets = $100,000.

Result: Passes $100,000 Test:

• Personal Property Affidavit procedure may be used for any and all of the probate assets.

• If used for all of the probate assets, then no probate procedure should be necessary.

2.

Personal Property = $80,000

Real Property = $20,000

Value of probate assets = $100,000.

Result: Passes $100,000 Test:

• Personal Property Affidavit procedure my be used for any and all of the personal property.

• Probate procedure will likely be necessary, however, to transfer the real property (and any personal property not transferred through this Personal Property Affidavit procedure).

3.

Personal Property = $80,000

Real Property = $25,000

Value of probate assets = $105,000.

Result: Fails the $100,000 Test:

• Personal Property Affidavit procedure cannot be used at all.

• Probate procedure will likely be necessary --- to transfer all the probate assets.