If you are in charge of administering a small estate in Illinois, you may need to complete a Small Estate Affidavit. This document is used to transfer the assets of the deceased person to their heirs without going through the probate process. This guide will provide you with everything you need to know about completing a Small Estate Affidavit in Illinois.
What is a Small Estate Affidavit?
A Small Estate Affidavit is a legal document that allows you to collect the assets of a deceased person without going through the probate process. The probate process can be time-consuming and expensive, so a Small Estate Affidavit can be a great way to save time and money.
Oklahoma Small Estate Affidavit – Source cocosign.com
Who Can File a Small Estate Affidavit?
In Illinois, you can file a Small Estate Affidavit if the following conditions are met:
- The value of the decedent’s assets is less than $100,000.
- There is no will.
- The assets are not subject to any liens or encumbrances.
Livingston County Court Forms Small Claims Affidavit 2023 – Source www.printableaffidavitform.com
How to File a Small Estate Affidavit
To file a Small Estate Affidavit, you will need to gather the following documents:
- A death certificate
- A list of the decedent’s assets and their values
- A list of the decedent’s debts and their amounts
- A list of the decedent’s heirs and their contact information
Once you have gathered all of the necessary documents, you can complete the Small Estate Affidavit form. The form is available on the website of the Illinois Secretary of State. You can also obtain a copy of the form at your local county courthouse.
Free Oklahoma Small Estate Affidavit – PDF – eForms – Source eforms.com
Once you have completed the Small Estate Affidavit, you will need to file it with the county clerk in the county where the decedent resided. There is a filing fee of $30.
What Happens After I File a Small Estate Affidavit?
Once you have filed a Small Estate Affidavit, you will be able to collect the decedent’s assets and distribute them to their heirs. You will need to provide the heirs with a copy of the Small Estate Affidavit and a list of the assets that they are inheriting.
Free Illinois Small Estate Affidavit Form | PDF – Source esign.com
Conclusion of Essential Guide To Completing A Small Estate Affidavit In Illinois
Filing a Small Estate Affidavit is a relatively simple process that can save you time and money. If you are in charge of administering a small estate in Illinois, you should consider filing a Small Estate Affidavit.
