Small Estate Affidavit Paris IL – Bates Law Office – 501 Jackson Avenue – Suite 2031 – Call 217-512-1847
A legal document, a small estate affidavit is a way to transfer someone’s property after they pass away that bypasses the need to go to court.
A Small Estate Affidavit Paris IL may be utilized regardless if the deceased person had a valid will or not. However, it may not be used in the event the estate proceeds to probate court.
When there is a valid will, the person who is acting as the estate’s executor may use the Small Estate Affidavit Paris IL. An executor is simply the individual who is in charge of distributing the property in the estate according to the will. A beneficiary, too, may use the affidavit if there’s no will.
A Small Estate Affidavit Paris IL may be use if:
- -The value of the property remaining in the estate is less than $100,000.
- -The person who passed away didn’t own any type of real estate. Or, the person owned real estate that transferred to someone else after they died. This can occur through what is called a Transfer on Death Instrument or in the event the person was part of a joint tenancy with a right of survivorship;
- -A probate court hasn’t sent out letters of office, which allow an executor to distribute an estate’s property.
- -When there is a valid will, it must have been filed with in the county where the deceased person resided within thirty days of their death.
- -You’re not aware of any disputes in relation to the will or the deceased’s heirs.
- -In the event there are remaining claims against the deceased person besides funeral costs, they should be listed upon the small estate affidavit.
Talk with an attorney at Bates Law Office to learn more about the advantages to a Small Estate Affidavit Paris IL.
