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In Illinois, managing the estate of a deceased loved one can be a complex and emotional process, especially when it comes to settling their affairs. For smaller estates, however, the Illinois Small Estate Affidavit offers a streamlined approach to transferring assets without the need for lengthy probate proceedings. This form is particularly beneficial for estates valued at $100,000 or less, allowing heirs or beneficiaries to claim the decedent's property quickly and efficiently. By completing this affidavit, individuals can assert their right to the deceased's assets, such as bank accounts, personal property, and real estate, without the added stress of court involvement. The form requires specific information, including details about the deceased, the assets in question, and the relationship of the affiant to the decedent. It’s essential for the person completing the affidavit to be a qualified heir or representative, ensuring that the process remains fair and transparent. Understanding how to properly fill out and file this form can significantly ease the burden during a difficult time, making it a vital tool for those navigating the complexities of estate management in Illinois.
Example - Illinois Small Estate Affidavit Form
Illinois Small Estate Affidavit
Pursuant to the Illinois Probate Act, 755 ILCS 5/25-1, this document serves as an affidavit for the collection of the personal property of a decedent whose estate meets the criteria established under the aforementioned statute. This form is intended for use when the total value of the decedent's entire personal estate, including assets passing outside the will or intestacy does not exceed $100,000.
Section 1: Decedent Information
Full Legal Name of Decedent: ___________________________________________________
Date of Death (MM/DD/YYYY): _________________________
County of Decedent’s Primary Residence: __________________________________________
Last Four Digits of Decedent's Social Security Number: _____________________________
Section 2: Affiant Information
Full Legal Name of Affiant: ____________________________________________________
Relationship to Decedent: ______________________________________________________
Address of Affiant: ____________________________________________________________
City, State, Zip Code: __________________________________________________________
Telephone Number: _______________________ Email Address: ________________________
Section 3: Asset Information
Please provide a detailed list of the decedent's personal property and the estimated value of each item. Include all bank accounts, stocks, bonds, vehicles, and any other personal assets.
- Description of Asset: ____________________________________ Value: $__________
- Description of Asset: ____________________________________ Value: $__________
- Description of Asset: ____________________________________ Value: $__________
Section 4: Debts and Liabilities
List all known debts and liabilities of the decedent at the time of death.
- Creditor: ___________________________ Amount Owed: $__________
- Creditor: ___________________________ Amount Owed: $__________
- Creditor: ___________________________ Amount Owed: $__________
Section 5: Declaration
I, _____________________(Affiant’s Name), declare under penalty of perjury that the information provided in this affidavit is true and correct to the best of my knowledge and belief. I understand that this document is executed for the purpose of collecting the personal estate of the decedent and that the estate qualifies as a "small estate" under Illinois law. I agree to use the assets collected for the payment of the decedent’s debts and liabilities and to distribute any remaining assets according to the decedent’s will or in accordance with Illinois intestacy laws, if applicable.
_____________________ Date: _______________
___________________________________________
Affiant’s Signature
Notary Public Acknowledgment
State of Illinois
County of ________________
Subscribed and sworn to (or affirmed) before me on this day, ____________, by _____________________________________________ (Affiant), who is personally known to me or who has produced ___________________________ as identification.
___________________________________________
Notary Public Signature
My Commission Expires: _______________
PDF Form Properties
| Fact Name | Details |
|---|---|
| Purpose | The Illinois Small Estate Affidavit allows individuals to claim assets of a deceased person without going through formal probate, simplifying the process for small estates. |
| Eligibility | To use the Small Estate Affidavit, the total value of the estate must not exceed $100,000, excluding real estate. |
| Governing Law | The Small Estate Affidavit in Illinois is governed by 755 ILCS 27/1, which outlines the requirements and process for filing. |
| Required Information | The affidavit must include details such as the deceased's name, date of death, and a list of assets being claimed. |
| Filing Process | The completed affidavit must be filed with the appropriate court, and copies should be provided to financial institutions or other entities holding the deceased's assets. |
| Limitations | Using a Small Estate Affidavit does not eliminate debts owed by the deceased. Creditors may still seek repayment from the estate's assets. |
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