Small Estate Affidavits

Trying to access a deceased loved one's account or sell his or her car? You may be told you need a small estate affidavit. A small estate affidavit allows for the administration and winding up of just that – a small estate. 

A small estate affidavit allows an executor of an estate to collect and distribute a decedent’s assets without having to initiate probate proceedings, and the affidavit can be used in lieu of probate court proceedings if: (1) the estate does not include real property; and (2) the estate’s assets are collectively $100,000 or less. The affidavit can be used for both testate (valid will) or intestate (no valid will) estates. 

The affidavit shall set forth the assets of the estate, any debts of the estate, including funeral and burial expenses, and the heirs or legatees, as applicable. A legatee is one that is named as a beneficiary under a will. The affidavit further requires the affiant to swear in writing that all creditors of the estate, if any, will be paid and that any remaining assets will be distributed to either the heirs in accordance with Illinois intestacy laws or to the legatees pursuant to the decedent’s will. 

The small estate affidavit does not need to be filed with any court or county but should be accompanied by a copy of the decedent’s death certificate and a certified copy of the decedent’s will if one exists. Once prepared and executed, the affidavit empowers the affiant with the legal capacity to collect the decedent’s assets and distribute them according to the affidavit. Often this includes presenting the affidavit to financial institutions to liquidate small accounts held for the benefit of the decedent, to life insurance companies to receive policy benefits, and/or the Secretary of State in order to transfer the title of a decedent’s car.

Additional information you may need in order to finalize the affidavit includes: 

1. decedent’s full name, address, and date of death (each of which can often be found on the death certificate); 
2. the full name, address, and relationship to the decedent for any and all heirs or legatees; 
3. any creditors of the decedent and the amounts of such debts; 
4. identify how the estate will be distributed either under Illinois law or according to the decedent’s will; 
5. for any bank or financial accounts, the name of the financial institution, account number, and an estimated balance; and 
6. for any motor vehicles, the make, model, and VIN.

If you have been asked to present a small estate affidavit, think your loved one’s estate may be eligible for small estate administration, or have any questions regarding a small estate affidavit, please do not hesitate to contact Meghan R. Hartnett at mhartnett@lavellelaw.com or 847-705-7555.