An Illinois Small Estate Affidavit is a legal document that is filed with the local probate court in Illinois. This document is used to transfer assets from a deceased person's estate to the beneficiaries or heirs, without having to go through the full probate process. The Illinois Small Estate Affidavit is available for estates where the value of the estate is less than $100,000. There are two types of Illinois Small Estate Affidavit that can be filed: 1. A Small Estate Affidavit for Personal Property only — this affidavit is used when the estate only includes personal property such as bank accounts, vehicles, household furnishings, etc. 2. A Small Estate Affidavit for Real Property only — this affidavit is used when the estate only includes real property such as land or a home. In order to file an Illinois Small Estate Affidavit, the document must include information about the deceased, all beneficiaries or heirs, the value of the estate, and an inventory of the estate’s assets and liabilities. The affidavit must also be signed by all the beneficiaries or heirs and be notarized. Once the affidavit is filed with the court, it is then reviewed by a judge and if approved, the assets in the estate are distributed according to the terms of the affidavit.
Illinois Small Estate affidavit
Description
How to fill out Illinois Small Estate Affidavit?
Preparing official paperwork can be a real stress unless you have ready-to-use fillable templates. With the US Legal Forms online library of formal documentation, you can be confident in the blanks you find, as all of them correspond with federal and state laws and are checked by our experts. So if you need to fill out Illinois Small Estate affidavit, our service is the perfect place to download it.
Getting your Illinois Small Estate affidavit from our service is as simple as ABC. Previously authorized users with a valid subscription need only log in and click the Download button after they find the proper template. Afterwards, if they need to, users can use the same blank from the My Forms tab of their profile. However, even if you are new to our service, registering with a valid subscription will take only a few moments. Here’s a brief guideline for you:
- Document compliance verification. You should attentively review the content of the form you want and check whether it satisfies your needs and complies with your state law regulations. Previewing your document and reviewing its general description will help you do just that.
- Alternative search (optional). If you find any inconsistencies, browse the library using the Search tab above until you find a suitable blank, and click Buy Now once you see the one you want.
- Account registration and form purchase. Register for an account with US Legal Forms. After account verification, log in and select your preferred subscription plan. Make a payment to continue (PayPal and credit card options are available).
- Template download and further usage. Choose the file format for your Illinois Small Estate affidavit and click Download to save it on your device. Print it to fill out your paperwork manually, or take advantage of a multi-featured online editor to prepare an electronic copy faster and more efficiently.
Haven’t you tried US Legal Forms yet? Sign up for our service today to obtain any official document quickly and easily every time you need to, and keep your paperwork in order!
Form popularity
FAQ
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.
If estate personal assets are $100,000 or less, then you can pass the asset on using a small estate affidavit. This affidavit cannot be used for real estate. If there is a will, file the will with the Circuit Clerk, obtain a certified copy of the will, and attach it to the small estate affidavit.
An Illinois small estate affidavit provides a streamlined way for an heir to gather and distribute the assets of a person who died, provided that the estate does not exceed $100,000. This form allows an heir to collect the personal property of the decedent without going to court.
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.
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.
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.