An Illinois Small Estate Affidavit is a document used to settle the estate of a deceased person who owned less than $100,000 in assets in Illinois. It is a sworn statement that is used to transfer assets from the estate of the deceased person to the rightful heirs. This affidavit is available to anyone who can prove that they are the rightful heir of the deceased person's estate. There are two types of Illinois Small Estate Affidavits: the Small Estate Affidavit and the Simplified Estate Affidavit. Both affidavits require the swearing in of a personal representative of the deceased's estate who is able to identify the assets and distribute them to the rightful heirs. The Small Estate Affidavit requires the swearing in of two witnesses, while the Simplified Estate Affidavit does not. The Small Estate Affidavit is valid for six months, while the Simplified Estate Affidavit is valid for two years.
Illinois Small Estate affidavit
Description
How to fill out Illinois Small Estate Affidavit?
Drafting official documents can be a significant hassle if you lack readily accessible fillable templates. With the US Legal Forms online library of formal paperwork, you can trust the information you come across, as all of them align with federal and state laws and are verified by our specialists.
Acquiring your Illinois Small Estate affidavit from our collection is as simple as one-two-three. Previously registered users with an active subscription need only Log In and hit the Download button once they identify the right template. Later, if necessary, users can retrieve the same document from the My documents section of their account. However, even if you're a newcomer to our service, signing up with an authorized subscription will take just a few moments. Here’s a brief guide for you.
Haven’t you checked out US Legal Forms yet? Register for our service today to acquire any official document swiftly and effortlessly whenever you need to, and maintain your paperwork organized!
- Document compliance verification. It is important to carefully evaluate the content of the form you desire and ensure that it meets your requirements and complies with your state’s legal statutes. Previewing your document and examining its overall description will assist you in doing just that.
- Alternative search (optional). If there are any discrepancies, search through the library utilizing the Search tab at the top of the page until you discover an appropriate blank, and select Buy Now when you find what you need.
- Account registration and document acquisition. Create an account with US Legal Forms. After your account is verified, Log In and pick your desired subscription plan. Complete payment to continue (PayPal and credit card options are available).
- Template download and subsequent utilization. Choose the file format for your Illinois Small Estate affidavit and click Download to save it to your device. Print it to complete your paperwork by hand, or utilize a versatile online editor to prepare an electronic version more swiftly and efficiently.
Form popularity
FAQ
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
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.
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.
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.
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.
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.
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.
