An Illinois Small Estate Affidavit is a legal document used to administer the estate of a decedent who has died without a will. The affidavit is used to transfer the decedent's assets to his or her heirs without the need of probate court proceedings. There are two types of Illinois Small Estate Affidavits: the Small Estate Affidavit and the Uniform Small Estate Affidavit. The Small Estate Affidavit is used when the estate of the decedent is worth less than $100,000, and the Uniform Small Estate Affidavit is used when the estate of the decedent is worth less than $250,000. The affidavit must be completed and signed by the heirs of the decedent, and it must include the decedent's name, date of death, and a list of assets and liabilities. The affidavit must also be certified by a notary public. Once the affidavit is completed and notarized, it must be filed with the Circuit Court in the county where the decedent resided. Upon approval of the affidavit, the court will issue a Certificate of Discharge, which will allow the heirs to transfer the assets to themselves.
Illinois Small Estate affidavit
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How to fill out Illinois Small Estate Affidavit?
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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.
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.
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
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.
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.
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.