Through a small estate affidavit procedure, decedent’s successors can expedite the property transfer process. If the estate can be qualified as small under the state laws, heirs can avoid a lengthy probate process.
This free template will ease the completion of your small estate affidavit Illinois form. Our website also offers the services of online notarization.
What is a Small Estate Affidavit in Illinois?
If you are a beneficiary of a small estate in Illinois, you can file a small estate affidavit to distribute the assets simply and efficiently. All assets belonging to the decedent, including property, money, and other possessions, become part of their estate. With an IL small estate affidavit, you will not have to undergo formal probate to settle your inherited assets.
Probate proceedings can take significant time and expenses. To ease the lives of the decedent’s loved ones, Illinois law allows heirs to transfer estates that are estimated at $100,000 or lower through a small estate affidavit process. This procedure is significantly quicker and less expensive than formal probate.
Where to Get a Small Estate Affidavit in Illinois?
There are several ways to obtain a small estate affidavit Illinois blank form.
To streamline the process and save your costs, you can download the template at PandaDocs. Fill it out according to our recommendations and share it as needed.
Another option is to get the form from the Illinois Secretary of State online or in person at your local circuit county clerk’s office. After you complete the form, make a copy of your affidavit. The state laws require notarizing the document, so you should not sign it until you can do so before a notary public. Besides, you’ll need to provide a copy of the death certificate and a certified copy of the decedent’s will if it exists.
Small Estate Affidavit Illinois 2023
The estate administrator of a person that has passed away can use an affidavit to gather the deceased person’s assets, pay their debts, and distribute the assets to the heirs and beneficiaries. A small estate affidavit Illinois 2023 allows estate administrators to transfer an estate without court oversight in the following cases:
- The decedent’s assets evaluate at $100,000 or less and do not include real estate;
- All the debts will be paid;
- The administrator doesn’t contest creditors’ claims;
- Heirs and beneficiaries do not have any disputes.
According to the affidavit requirements, the administrator must swear in writing that these conditions are fulfilled and outline how the estate assets will be distributed. The IL small estate affidavit legally empowers the administrator to collect and distribute the deceased person’s property. For this purpose, the administrator must present property holders with a copy of the small estate affidavit form, a copy of the death certificate, and a certified copy of the will if it exists.
Illinois Small Estate Affidavit: Instructions
You should start your affidavit process by filling out the form. This convenient template will help you save time and fulfill the task seamlessly.
You will need to provide the following information.
- Your name, address, phone number, and your relationship to the deceased.
- If you are not an Illinois resident, you’ll need an agent to participate in the process on your behalf. An agent must be an Illinois resident, and you’ll need to supply the agent’s contact information and name.
- The deceased person’s name, date of death, and residence address.
- Description and estimates of the decedent’s assets. If the assets include a vehicle, you should indicate the make, model, VIN, and license plate number.
- Information regarding the expenses on the decedent’s funeral, awards for surviving spouse or dependent, and outstanding debts.
- If the decedent has a surviving spouse, minor children, or adult dependents, you should provide their names and places of residence.
- The outline of the decedent’s estate distribution to successors.
These are the essential Illinois small estate affidavit instructions. Complete the form scrupulously and follow state requirements as well as our recommendations to make sure that the procedure will pass smoothly.
IL Small Estate Affidavit: Requirements
If you plan to use the affidavit to claim your heritage, you should ensure you qualify according to the Illinois small estate affidavit statute.
- The deceased person did not own any real property at the time of their death.
- The total assessment of all other property is $100,000 or lower.
- No letter of office issued by the probate court authorizes the executor of the decedent’s will to distribute assets.
- If the decedent has left a will, it was filed with the clerk of the court for the county where the decedent lived for 30 days or more before their death.
- No one contests the will or the heirship.
- You should list and promise to pay all unpaid debts of the decedent.
- To file the small estate affidavit Illinois, you must be:
- An executor of the decedent’s will if there is a will;
- A person entitled to inherit property according to Illinois state intestacy laws if a will is absent.
If you match all of the listed qualifications, you can complete the small estate affidavit Illinois 2023.
Steps for Filing Small Estate Affidavit Illinois
You should complete your form carefully, following all the requirements and instructions. All the necessary procedures must be held and all the attachments must be included. Follow these four simple steps to prepare your small estate affidavit appropriately.
Step 1: Collect the necessary information
Outline the deceased person’s debts, bills, and assets.
Step 2: Prepare your affidavit form
Obtain the small estate affidavit Illinois sample at PandaDocs and follow our recommendations for completion. Otherwise, you can find this form online or take it in-person at your local county clerk’s office. Include all assets and vehicles, such as:
- Funeral expenses;
- Assets held in trust;
- Money owed to employees;
- Other claims.
Do not forget to make an extra copy of your affidavit.
Step 3: Notarize the form
You should swear, sign, and date the small estate affidavit Illinois before a notary public. The document does not need to be filed with a court.
Step 4: Obtain the assets
You can show this affidavit to any person or other party that can access the property on the list. In case of any issues, you can file a claim in court.
What is the purpose of the IL small estate affidavit?
The document primarily aims to speed up the process of transferring property from the decedent to the heirs. With a small estate affidavit Illinois, successors can obtain their heritage without going to court. The heirs can initiate the respective procedure if the decedent’s assets qualify for the affidavit under state laws. To complete a small estate affidavit a petitioner will need to fill out a small estate affidavit Illinois 2022 form and attach all the required documents.
When do you need a Small Estate Affidavit Illinois?
You need a small estate affidavit in the following cases:
- The value of the estate does not exceed $100,000;
- You are not going to transfer real property, for instance, a house.
Property holders, including banks, must accept an appropriately completed small estate affidavit.
Does Small Estate Affidavit need to be notarized in Illinois?
According to state laws, you must notarize your affidavit. Therefore, you should sign it before a notary public. Also, you’ll need to attach a copy of the death certificate and a certified copy of the will if it exists.
PandaDocs offers a convenient opportunity to notarize a small estate affidavit online. Here, you will quickly notarize your document with a notary who is state approved for remote online notarization.
How much does a small estate affidavit cost in Illinois?
A small estate affidavit allows you to omit the probate proceedings. However, you should be prepared to pay from $500.00 to $1,000.00 in legal fees for advice to the petitioner and the affidavit execution. Reduce your expenses with the help of this free small estate affidavit Illinois blank form at PandaDocs.
How to file a small estate affidavit in Illinois?
Filing a small estate affidavit in Illinois is easy if you meticulously fulfill every necessary step.
- Make sure that you have a legal right to file an affidavit;
- Make a list of the decedent’s assets, including debts and bills;
- Obtain the small estate affidavit Illinois sample at this website and fill it out online. Do not forget to include all assets and vehicles. Make a copy of the document after completing it.
- Notarize the form. You can do this at PandaDocs website with the help of an online notarization service.
Under Illinois laws, you don’t need to file your small affidavit with a court. All the involved institutions and individuals are supposed to accept the completed and notarized document.