Small Estate affidavit ($100,000 and under)
An Illinois Small Estate Affidavit ($100,000 and under) is a legal document that can be used to transfer assets and property from a deceased person’s estate if the value of the estate is $100,000 or less. The affidavit is used to avoid the time and expense of going through the probate process. It allows the heirs of the deceased to receive the assets of the estate without a court order. In Illinois, there are two types of Small Estate Affidavits. The first is for estates with a value of $100,000 or less and the second is for estates with a value greater than $100,000. For estates valued at $100,000 or less, the affidavit must be signed by all the heirs of the deceased, as well as any creditors of the estate. The affidavit must also include a list of all assets and their value, as well as any liabilities and debts of the estate. For estates valued at more than $100,000, the affidavit must also include a list of all assets, debts, and liabilities, and must be filed with the probate court. In addition, an independent administrator must be appointed to oversee the estate. In both cases, the affidavit must be signed by the heirs of the deceased, and must be notarized by a notary public. Once the affidavit is filed with the probate court or notarized, the heirs can receive the assets of the estate.
An Illinois Small Estate Affidavit ($100,000 and under) is a legal document that can be used to transfer assets and property from a deceased person’s estate if the value of the estate is $100,000 or less. The affidavit is used to avoid the time and expense of going through the probate process. It allows the heirs of the deceased to receive the assets of the estate without a court order. In Illinois, there are two types of Small Estate Affidavits. The first is for estates with a value of $100,000 or less and the second is for estates with a value greater than $100,000. For estates valued at $100,000 or less, the affidavit must be signed by all the heirs of the deceased, as well as any creditors of the estate. The affidavit must also include a list of all assets and their value, as well as any liabilities and debts of the estate. For estates valued at more than $100,000, the affidavit must also include a list of all assets, debts, and liabilities, and must be filed with the probate court. In addition, an independent administrator must be appointed to oversee the estate. In both cases, the affidavit must be signed by the heirs of the deceased, and must be notarized by a notary public. Once the affidavit is filed with the probate court or notarized, the heirs can receive the assets of the estate.