New York’s small estate process is available when the person who died left $50,000 or less in personal property. But not everything counts toward that number, which means more estates qualify than people expect.
What counts
Personal property owned by the person in their name alone: bank accounts, investment accounts, cars, and similar assets.
What does not count
- Jointly held assets (for example, a joint bank account) pass directly to the other owner and are excluded.
- Real estate does not count toward the limit, and it cannot be transferred through this process.
- Exempt family property under New York law (EPTL 5-3.1) is set aside for a surviving spouse or young children and does not count, including up to $25,000 in money, one vehicle up to $25,000, and certain household items.
Why this matters
Because joint accounts and exempt property come off the top, an estate that looks larger at first glance may still qualify for the simpler small estate path.
Settling a small estate in New York?
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Get the free step-by-step guide and the official court form, then notarize your affidavit online in minutes. Get the small estate guide →
Related: Who can file the affidavit · How to settle a small estate