Estate Claim
Illinois Estate Claim is a legal process used to recover a deceased person's assets, such as bank accounts, real estate, investments, and other assets. This process is typically initiated by the executor of the deceased's estate, and is done in accordance with the law of the state of Illinois. There are two types of Illinois Estate Claim: a Small Estate Affidavit and a Formal Estate Administration. A Small Estate Affidavit is used to transfer assets of a deceased person who had a small estate, or one with a value of less than $100,000. This type of claim can be initiated by the executor of the estate, and requires some documentation, such as death certificates, proof of authority to act on behalf of the estate, and affidavits of the beneficiaries of the estate. A Formal Estate Administration is used to transfer assets of a deceased person who had a large estate, or one with a value over $100,000. This type of claim requires the appointment of a Personal Representative, or Executor, of the estate and involves a more complex process. The Personal Representative must file an Inventory and Appeasement, Petition for Administration, and other documents with the court, and then distribute the assets of the estate as directed by the court.
Illinois Estate Claim is a legal process used to recover a deceased person's assets, such as bank accounts, real estate, investments, and other assets. This process is typically initiated by the executor of the deceased's estate, and is done in accordance with the law of the state of Illinois. There are two types of Illinois Estate Claim: a Small Estate Affidavit and a Formal Estate Administration. A Small Estate Affidavit is used to transfer assets of a deceased person who had a small estate, or one with a value of less than $100,000. This type of claim can be initiated by the executor of the estate, and requires some documentation, such as death certificates, proof of authority to act on behalf of the estate, and affidavits of the beneficiaries of the estate. A Formal Estate Administration is used to transfer assets of a deceased person who had a large estate, or one with a value over $100,000. This type of claim requires the appointment of a Personal Representative, or Executor, of the estate and involves a more complex process. The Personal Representative must file an Inventory and Appeasement, Petition for Administration, and other documents with the court, and then distribute the assets of the estate as directed by the court.