When we hear of someone inheriting an estate after a loved one has passed away, we often think it is a large house and a wealth of assets. But that is not necessarily true. An ‘estate’ simply means everything that the person owned. It could be their possessions inside a rental apartment, such as the furniture, record collection and money in the bank. If you inherit the assets of someone who had a smaller estate, you may be able to submit a small estate affidavit instead of going through probate.
The courts want to move their cases along. If the person dies without a will, the property might still pass to you without going through probate courts.
A small estate affidavit is a sworn legal document that you can use to assert your claim to assets from the estate of someone who has passed away. You must generally be a family member, such as a spouse, child, parent, partner or executor of the estate. If the person who passed away did not own many assets, you might be able to avoid probate court.
This affidavit states your rights to the assets and the estate’s value.
You must include various documents to prove you are entitled to the estate. Some of these documents include the following:
Only some people can file a small estate affidavit; there are restrictions. If you work with an experienced probate attorney, we can tell you precisely what is needed and how to file the legal documents.
Not everyone can submit a small estate affidavit after the death of a loved one. You must adhere to restrictions before the courts accept your request.
If you can meet these terms, you may be able to avoid the time and money associated with the probate court. Working with an experienced estate planning attorney can help you navigate the legal paperwork. The courts may not require you to hire an attorney when submitting a small estate affidavit, but you may want one anyways. Legal documents are tricky, and it is best to fill them out correctly the first time.
Do you think you may be able to submit a Small Estate Affidavit? To talk to probate, trust and estate attorney in Chicago or Oak Brook about how to obtain and submit this legal document, contact the Estate & Probate Legal Group at 630-864-5835.
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