My mother passed away in January and had no will. She had no real estate and few possessions (mostly clothes, books, and dishes). She owned a car and had a bank account with a small balance (< $1,000). She had a lot of unsecured debt (credit card debt of $18,000) and medical bills from the day she died. I'm considering filing to become her personal representative so that I can transfer possession of her car to my sister and close the bank account, but I'm worried about the responsibilities that the role carries, especially given the amount of debt she had. What are my next steps and what do I have to worry about? What do I have to include in the "inventory" of estate assets (is it item-by-item clothing and books, or generalized or moot because she had so little)?
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Voluntary Administration Statement new UPC in Massachusetts
Sorry about your mom. This is sort of an awkward time for probate attorneys, because the new Uniform Probate Code has taken effect and they are all trying to figure out how the system will actually work. I'm at an even greater disadvantage because I was never a probate attorney. In any case, there is something called a Voluntary Administration Statement (AKA "Collection of Personal Property by Affidavit), which, under both the old system and the new is designed to allow an efficient means of dealing with small estates. Under the old Massachusetts law, Voluntary Administration was available for any estate with assets under $15,000, plus the value of a vehicle. The new Massachusetts Uniform Probate Code increases the amount to assets up to $25,000 plus a vehicle. To use this approach, you must, as before, wait 30 days after the date of death to file. If you use the Voluntary Administration Statement, I do not believe there is any requirement for an inventory. Check with the clerks at the Probate Court about these issues.
You might also look into a new feature under the UPC called exempt property. See Massachusetts General Laws Chapter 190B, Section 2-403. This exempt property rule is discussed in this post, in the context of disinheriting children. Essentially, the surviving spouse, or the children if there is no surviving spouse, is entitled to up to $10,000 in assets of the estate, including household furniture, automobiles, furnishings, appliances, and personal effects. Hope that helps.