Formal Probate

• The hallmark of formal probate proceedings is the appointment of an executor (if there is a will) or an administrator (if there is no will) whose responsibility will be to gather and inventory all the property of the estate. Formal reports will have to be filed with the court throughout probate proceedings until there is a final report, accounting and distribution of the probate property to the beneficiaries.
  
  

Informal Probate

• The phrase "informal probate" is somewhat of a misnomer because there is no probate proceeding without the appointment of an executor or administrator. State laws providing a simplified procedure for distributing the decedent's assets usually refer to "small estate administration."
  
  

Small Estates

• The precise procedure varies among states that provide for small estate administration, but the procedure typically involves an affidavit signed under penalty of perjury by the person using the procedure that identifies the assets of the estate and their value. In some states, such as Texas, this document is filed with the court.
  
  

Use of Affidavit

• Whether filed with the court or not, the affidavit is used by the spouse of the deceased or heirs to acquire possession of the assets identified in it, such as a bank account.
  
  

Small Estate Value

• A "small estate" varies among the states with this procedure. For example, in California the value is $100,000 or less, but in Texas the value is $50,000 or less.