Probate and Small Estate Affidavit

Probate and Small Estate Affidavit

Probate and small estate affidavits are often referred to as “estate administration”. Probate is the court-supervised process involving distribution of a deceased person’s property. In Illinois, probate is usually necessary when a person owns real estate at their death and/or has assets without beneficiary designations totaling $100,000 or more, particularly in the absence of effective planning. There may be some exceptions to that general rule. Tim Leighton can help Personal Representatives (sometimes called Executors) determine whether probate is required or if those involved can use a small estate affidavit to administer and/or convey the deceased person’s property.

A small estate affidavit is typically used when a person’s assets are less than $100,000. It may be required for re-titling or selling a deceased person’s vehicle when there is no joint owner on the title.

The laws and rules governing disposition of assets and wrapping up of a decedent's affairs can be daunting. We can help you navigate these procedures, including probate, conservatorships, and fiduciary obligations. The process often involves drafting and filing petitions, preparing inventories of assets and liabilities, negotiating compromise agreements among beneficiaries, heirs and legatees, and re-titling assets. When appropriate, we can help you identify and implement ways to reduce tax and transfer costs. Contact us today to schedule a consultation to learn more.