An Illinois Small Estate Affidavit is a legal document filed in the state of Illinois to prove a person's right to an estate without going through the full probate process. It is used when the estate of the deceased is valued at $100,000 or less and all debts have been paid. There are two types of Illinois Small Estate Affidavit: the Independent Administration Affidavit and the Summary Administration Affidavit. The Independent Administration Affidavit is used when the deceased has a will and allows the executor to handle the distribution of the estate without court involvement. The Summary Administration Affidavit is used when there is no will and the estate is distributed according to the state laws on intestate succession. Both types of affidavits require the signature of the person claiming the estate, and the signatures of two witnesses.
Illinois Small Estate affidavit
Description
How to fill out Illinois Small Estate Affidavit?
US Legal Forms is the simplest and most cost-effective method to locate appropriate official templates.
It boasts the most comprehensive online repository of commercial and personal legal documents created and reviewed by legal experts.
Here, you can discover printable and fillable forms that adhere to federal and state regulations - just like your Illinois Small Estate affidavit.
Examine the form description or preview the document to ensure you’ve located the one aligned with your needs, or find another by using the search tab above.
Hit Buy now when you’re confident of its suitability with all the stipulations, and select the subscription plan that suits you best.
- Acquiring your template involves just a few straightforward steps.
- Users who already possess an account with an active subscription need only to Log In to the web service and download the document onto their device.
- Subsequently, they can find it in their profile under the My documents section.
- If you are utilizing US Legal Forms for the first time, here’s how to obtain a professionally crafted Illinois Small Estate affidavit.
Form popularity
FAQ
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.
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.
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
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.
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.
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.