Small Estate Affidavit Frequently Asked Questions
When a loved one passes away, handling their property can sometimes be simpler than people expect. In Illinois, a small estate affidavit is a legal document that can be used to transfer property without going through the full probate process. We’ve answered some of the most common questions we hear so you can understand how this option might work in certain situations.
Need help deciding if a small estate affidavit is right for your situation?
Our team is here to review the circumstances, prepare the affidavit, and guide you through each step so you can handle your loved one’s affairs with confidence.
FAQs
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A small estate affidavit is a sworn statement that allows heirs to collect and distribute the assets of someone who has passed away when the total value of the estate (excluding real estate) falls under a certain dollar limit set by Illinois law. It is often used to handle bank accounts, personal property, and other assets without opening a probate case.
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In Illinois, this option is available if the estate’s value is $100,000 or less and there is no real property, such as a house or land, that needs to be transferred. The will, if one exists, must be provided to support the affidavit. All debts, taxes, and claims must still be addressed before assets are distributed.
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Typically, using a small estate affidavit does not require a court appearance. However, you will need to complete the affidavit properly and present it to any institutions or agencies holding the assets. This could include banks, insurance companies, or other financial organizations.
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The affidavit requires detailed information about the person who passed away, their assets, debts, and the heirs entitled to receive property. We prepare these affidavits with care so they are accurate and ready to be accepted by the financial institutions involved.
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If your loved one left a will, we use it as a guide to confirm who should receive the assets. The will does not have to be filed in a probate court for the small estate affidavit to be valid, but it must be attached to the affidavit as part of the process.
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If there is no will, Illinois intestacy laws determine who inherits the property. This means assets will be distributed according to the order of priority set by state law. We help families understand how these rules apply to their situation.
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If the estate is worth more than $100,000 or includes real estate, you would need to go through a court process such as probate. We can help you decide the right path based on the facts of your case.
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No. This process cannot transfer ownership of real property. If real estate is part of the estate, different legal steps are required to transfer it to the new owner.
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Once we have all the necessary information, preparing the affidavit can be done quickly. The time it takes to collect the assets depends on how promptly the financial institutions process the document.
