An Illinois Small Estate Affidavit is a document used to settle the estate of a deceased person who owned less than $100,000 in assets in Illinois. It is a sworn statement that is used to transfer assets from the estate of the deceased person to the rightful heirs. This affidavit is available to anyone who can prove that they are the rightful heir of the deceased person's estate. There are two types of Illinois Small Estate Affidavits: the Small Estate Affidavit and the Simplified Estate Affidavit. Both affidavits require the swearing in of a personal representative of the deceased's estate who is able to identify the assets and distribute them to the rightful heirs. The Small Estate Affidavit requires the swearing in of two witnesses, while the Simplified Estate Affidavit does not. The Small Estate Affidavit is valid for six months, while the Simplified Estate Affidavit is valid for two years.
Illinois Small Estate affidavit
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How to fill out Illinois Small Estate Affidavit?
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FAQ
This statement of the decedent's intent is commonly known as that person's "Will." Under Illinois law, it is required that any person who possesses the Will of a decedent file it with the Clerk of the Circuit Court of the county in which that individual resided within 30 days after the death of the testator is known to
In Illinois, a will must be filed within thirty (30) days of a person's death. Failure to file a will in your possession is a felony under Illinois law.
The form must be notarized, so make sure you don't sign it until you can do so in the presence of a notary public. You'll also need to attach a copy of the death certificate and a certified copy of the will if there is one.
Probate is typically necessary in Illinois when the decedent owns any real estate or more than $100,000.00 of non-real-estate assets outside of a trust.
To use a small estate affidavit, all of the following must be true: The total amount of property in the estate is worth $100,000 or less; The person who died did not own any real estate, or they owned real estate that went to someone else when they died.
You can only use a small estate affidavit if the estate has no more than $100,000 in it. You cannot use a small estate affidavit to transfer real property, such as a house. However, the decedent's real property may have already been transferred to someone else.
A small estate affidavit is a sworn legal document a person can use to assert a claim to assets from the estate of someone who has died. In Illinois, the affidavit is not filed with the court but can be presented to a person, bank, brokerage or other holder of an asset from the estate.