Illinois Notice of Death Affidavit
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FAQ
For a TODI to work successfully, the requirements in Illinois include: The owner of property must hold the same capacity as required to make a will: the individual must be 18 years or older and must be of ?sound mind and memory?
An Illinois property owner can use a transfer-on-death instrument to transfer property to one or more beneficiaries. The default rule is that multiple beneficiaries named in a TOD instrument receive the property in equal shares as tenants in common with no right of survivorship.
Chicago, Ill. ?On , the Cook County Board of Commissioners unanimously passed an ordinance temporarily reducing the cost to record Transfer on Death Instruments from $98 to $48.
You and two adult witnesses must sign the TOD instrument while in the presence of a notary public. Under Illinois law, you may not use a beneficiary of your TOD instrument or a beneficiary's spouse as a witness. This rule helps prevent conflicts of interest.
Chicago, Ill. ?On , the Cook County Board of Commissioners unanimously passed an ordinance temporarily reducing the cost to record Transfer on Death Instruments from $98 to $48.
The notice of death affidavit and acceptance shall contain the name and address of each beneficiary who shall take under the transfer on death instrument, a legal description of the property, the street address, and parcel identification number of the residential real estate, the name of the deceased owner, and the
Bring the TODI to the Recorder of Deeds office in the county where the property that you're transferring is. If it is located in more than one county, file it in every county where it is located. Bring your signed TODI form. Tell them you want to record your TODI.
If you register an account in TOD (also called beneficiary) form, the beneficiary you name will inherit the account automatically at your death. No probate court proceedings will be necessary; the beneficiary will deal directly with the brokerage company to transfer the account.