The Illinois Small Estate Affidavit (Decedent Died 1-1-15 Or Later) is an affidavit that is used when a decedent has died on or after January 1, 2015, and the value of their estate is below the statutory limit. This form allows the decedent's heirs or beneficiaries to collect the decedent's assets without having to go through the probate process. It is a sworn statement that is signed by the heirs or beneficiaries of the decedent, and the affidavit must include the following information: decedent's name, date of death, the value of the estate, and the identities of the heirs or beneficiaries. There are two types of Illinois Small Estate Affidavit (Decedent Died 1-1-15 Or Later): the Short Form and the Long Form. The Short Form is used when the value of the estate is $100,000 or less, while the Long Form is used when the value of the estate is greater than $100,000. Depending on the type of assets that the decedent owned, additional forms may be required.
Illinois Small Estate affidavit (Decedent Died 1-1-15 Or Later)
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How to fill out Illinois Small Estate Affidavit (Decedent Died 1-1-15 Or Later)?
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FAQ
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.
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
Probating a will can be both expensive and time-consuming. Because of this, Illinois law allows estates that are valued at $100,000 or less to be transferred to heirs through what is called a small estate affidavit process.
Heirs are individuals who stand to inherit from a decedent ing to the Illinois laws of intestate succession, which set down how a decedent's assets must be distributed if they are not included in a valid will.
Because of this, Illinois law allows estates that are valued at $100,000 or less to be transferred to heirs through what is called a small estate affidavit process.
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.
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.
Illinois law says a small estate affidavit needs to state the following: The name and address of the affiant, which is the person swearing out the affidavit who hopes to collect the assets from the estate, The name of the decedent, which is the person who died, The date and location of the death,