In general, when someone dies, the estate must go through probate which can be a complicated and lengthy process. But many states provide less complicated options for smaller estates.
Wyoming law provides for simplified probate when the value of the decedent’s real and personal property less does not exceed $150,000.00. The persons entitled to the estate may file an application for a decree in the district court of the county where the property is situated.
Another option in Wyoming for heirs or beneficiaries to inherit property is the use of an affidavit. The heirs or beneficiaries prepare an affidavit identifying the assets they are entitled to inherit. This option may be used when the entire estate, wherever located, less liens and encumbrances does not exceed $150,000. After a waiting period of 30 days, the beneficiaries simply present the affidavit to the holders of the decedent’s property and it will be transferred to them.