Small Estate

A small estate is one whose assets fall below the thresholds that banks, super funds and registries set before they insist on a Grant of Probate. For these estates, an institution may release funds to the executor or next of kin on a signed indemnity and a death certificate instead. It matters because it spares a grieving family the cost and delay of a court application when the estate is modest.

There is no single national figure — each bank and fund sets its own limit (often in the tens of thousands), and some states offer simplified court procedures or public trustee help for low-value estates. Example: Because Tom's only assets were a $9,000 savings account and his car, the bank released the funds to his executor on a statutory declaration, with no probate needed. Jointly held assets pass to the survivor by survivorship and are not counted as part of the estate.