Can A Small Estate Affidavit be Filed in Idaho to Collect Property in California?

Full question:

My mother died in 2008, She owned a Chas Schwab stock portfolio which is worth approximately $52,000. My brother and I would like to use a Small Estate Affidavit to have this property released to us. Chas Schwab headquarters is located in California, I live in Idaho where my mother died, my brother lives in Texas. Can I have the affidavit notarized in Idaho? Does my brother have to sign jointly if we want the stock portfolio in both our names? Or do we abide by state law in California or Texas?

• Category: Wills and Estates
• Subcategory: Small Estates Affidavit Law
• Date: 04/07/2025
• State: Idaho

Answer:

In some cases where the decedent possessed real property at the time of death, estate proceedings may be required where the real property is located. Otherwise, the estate is typically administered where the decedent resided at the time of death. The affidavit only needs to be signed by the person making the affidavit, even if that person isn't the sole heir and may be notarized in Idaho. Institutions may have their own requirements for transferring assets. I suggest calling 888-297-0244 to have Schwab restrict the account and walk you through the “transfer of ownership” process.

The following are ID statutes:

15-3-1201. Collection of personal property by affidavit. —

(a) Thirty (30) days after the death of a decedent, any person
indebted to the decedent or having possession of tangible personal
property or an instrument evidencing a debt, obligation, stock or chose
in action belonging to the decedent shall make payment of the
indebtedness or deliver the tangible personal property or an instrument
evidencing a debt, obligation, stock or chose in action to a person or
entity claiming to be the successor of the decedent upon being
presented an affidavit made by or on behalf of the successor stating
that:

 

 

(1) The fair market value of the entire estate of the decedent which
is subject to probate, wherever located, less liens and encumbrances,
does not exceed one hundred thousand dollars ($100,000);

 

 

(2) Thirty (30) days have elapsed since the death of the decedent;

 

 

(3) No application or petition for the appointment of a personal
representative or for summary administration is pending or has been
granted in any jurisdiction; and

 

 

(4) The claiming successor is entitled to payment or delivery of the
property, including entitlement as a trust pursuant to a will of the
decedent.

 

 

(b) A transfer agent of any security shall change the registered
ownership on the books of a corporation from the decedent to the
successor or successors upon the presentation of an affidavit as
provided in subsection (a) of this section.

 

 

(c) For the purposes of this section, for the recovery of medical
assistance, the department of health and welfare shall be deemed a
successor to the estate provided:

 

(1) Prior to the presentation of the affidavit, the department shall
give notice, by regular mail, to any person known to the department to
be an heir, successor or creditor of the estate, and the department
shall certify such notice in writing to the person described in
subsection (a) of this section.

 

 

(2) Within sixty (60) days of mailing the notice, any person who
claims the right to reimbursement for priority estate expenses, as
permitted by section 15-3-805(a)(1) through (4), Idaho Code, may submit
a written demand for payment of such expenses, together with any
documentation of the expenses, to the department. Upon receipt of the
funds, and up to the amount received, the department shall pay priority
claims which it determines would be allowed in a probate proceeding, if
any. The department shall notify each claimant of the disposition of
his claim. The provisions of chapter 52, title 67, Idaho Code, shall
apply to determinations made by the department under this section.

 

 

15-3-1202. Effect Of Affidavit. —

The person paying, delivering, transferring, or issuing personal
property or the evidence thereof pursuant to affidavit is discharged and
released to the same extent as if he dealt with a personal representative
of the decedent. He is not required to see to the application of the
personal property or evidence thereof or to inquire into the truth of any
statement in the affidavit. If any person to whom an affidavit is
delivered refuses to pay, deliver, transfer, or issue any personal
property or evidence thereof, it may be recovered or its payment,
delivery, transfer, or issuance compelled upon proof of their right in a
proceeding brought for the purpose by or on behalf of the persons entitled
thereto. Any person to whom payment, delivery, transfer or issuance is
made is answerable and accountable therefor to any personal
representative of the estate or to any other person having a superior
right.

 

 

15-3-1203. Small Estates — Summary Administrative Procedure. —

If it appears from the inventory and appraisal that the value of the
entire estate, less liens and encumbrances, does not exceed homestead
allowance, exempt property, family allowance, costs and expenses of
administration, reasonable funeral expenses, and reasonable and necessary
medical and hospital expenses of the last illness of the decedent, the
personal representative, without giving notice to creditors, may
immediately disburse and distribute the estate to the persons entitled
thereto and file a closing statement as provided in section 15-3-1204 of
this Part.

 

 

5-3-1204. Small Estates — Closing By Sworn Statement Of Personal
Representative. —

(a) Unless prohibited by order of the court and except for estates
being administered by supervised personal representatives, a personal
representative may close an estate administered under the summary
procedures of section 15-3-1203 of this Part by filing with the court, at
any time after disbursement and distribution of the estate, a verified
statement that:

 

(1) to the best knowledge of the personal representative, the value
of the entire estate, less liens and encumbrances, did not exceed
homestead allowance, exempt property, family allowance, costs and
expenses of administration, reasonable funeral expenses, and reasonable,
necessary medical and hospital expenses of the last illness of the
decedent;

 

 

(2) the personal representative has fully administered the estate by
disbursing and distributing it to the persons entitled thereto; and

 

(3) the personal representative has sent a copy of the closing
statement to all distributees of the estate and to all creditors or other
claimants of whom he is aware whose claims are neither paid nor barred
and has furnished a full account in writing of his administration to the
distributees whose interests are affected.

 

(b) If no actions or proceedings involving the personal representative
are pending in the court one (1) year after the closing statement is
filed, the appointment of the personal representative terminates.

 

(c) A closing statement filed under this section has the same effect as
one filed under section 15-3-1003 of this code.