093_HB1506eng

 
HB1506 Engrossed                     LRB093 08809 LCB 09040 b

 1        AN ACT concerning estates.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.   The  Probate  Act  of  1975  is  amended  by
 5    changing Section 25-1 as follows:

 6        (755 ILCS 5/25-1) (from Ch. 110 1/2, par. 25-1)
 7        Sec.  25-1.   Payment  or  delivery  of  small  estate of
 8    decedent upon affidavit.
 9        (a) When any person or corporation  (1)  indebted  to  or
10    holding  personal  estate  of a decedent, (2) controlling the
11    right of access to decedent's safe deposit box or (3)  acting
12    as  registrar  or transfer agent of any evidence of interest,
13    indebtedness, property or right is  furnished  with  a  small
14    estate  affidavit  in  substantially the form hereinafter set
15    forth, that person or corporation shall pay the indebtedness,
16    grant access to the safe deposit box,  deliver  the  personal
17    estate  or  transfer  or  issue  the  evidence  of  interest,
18    indebtedness,  property or right to persons and in the manner
19    specified in paragraph 11 of the affidavit  or  to  an  agent
20    appointed as hereinafter set forth.
21        (b)        Small Estate Affidavit
22        I,        (name of affiant)    , on oath state:
23        1.  (a) My post office address is:                      ;
24            (b) My residence address is:                    ; and
25            (c)  I  understand  that,  if  I  am  an out-of-state
26    resident, I submit myself to  the  jurisdiction  of  Illinois
27    courts  for all matters related to the preparation and use of
28    this affidavit.  My agent for service of process in  Illinois
29    is:
30                                   NAME..........................
31                                   ADDRESS.......................
 
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 1                                   CITY..........................
 2                                   TELEPHONE (IF ANY)............
 3    I understand that if no person is named above as my agent for
 4    service  or,  if  for any reason, service on the named person
 5    cannot be effectuated, the clerk  of  the  circuit  court  of
 6    ......(County)  (Judicial  Circuit) Illinois is recognized by
 7    Illinois law as my agent for service of process.
 8        2.  The decedent's name is            ;
 9        3.  The date of the decedent's death was            , and
10    I have attached a copy of the death certificate hereto.
11        4.  The decedent's place of residence immediately  before
12    his death was            ;
13        5.  No  letters  of  office  are  now  outstanding on the
14    decedent's estate and no petition for letters is contemplated
15    or pending in Illinois or in any other  jurisdiction,  to  my
16    knowledge;
17        6.  The  gross  value  of  the decedent's entire personal
18    estate, including the value of all property  passing  to  any
19    party  either  by intestacy  or under a will, does not exceed
20    $75,000 $50,000.  (Here, list each asset, e.g., cash,  stock,
21    and its fair market value.);
22        7.  (a)  All of the decedent's funeral expenses have been
23    paid, or (b)  The amount of  the  decedent's  unpaid  funeral
24    expenses  and the name and post office address of each person
25    entitled thereto are as follows:
26    Name and post office address                    Amount
27    (Strike either 7(a) or 7(b)).
28        8.  There is no known unpaid claimant or contested  claim
29    against the decedent, except as stated in paragraph 7.
30        9.  (a)  The   names  and  places  of  residence  of  any
31    surviving  spouse,  minor  children  and   adult   dependent*
32    children of the decedent are as follows:
33              Name and            Place of          Age of
34            Relationship         Residence       minor child
 
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 1    *(Note:  An  adult  dependent  child  is one who is unable to
 2    maintain himself and is likely to become a public charge.)
 3        (b)  The award allowable to the  surviving  spouse  of  a
 4    decedent   who   was  an  Illinois  resident  is  $..........
 5    ($10,000, plus $5,000  multiplied  by  the  number  of  minor
 6    children  and  adult  dependent children who resided with the
 7    surviving spouse at the time of the decedent's death.  If any
 8    such child did not reside with the surviving  spouse  at  the
 9    time of the decedent's death, so indicate).
10        (c)  If there is no surviving spouse, the award allowable
11    to  the  minor  children  and  adult  dependent children of a
12    decedent  who  was  an  Illinois  resident   is   $..........
13    ($10,000,  plus  $5,000  multiplied  by  the  number of minor
14    children and adult dependent children), to be  divided  among
15    them in equal shares.
16        10.  (a) The decedent left no will.  The names, places of
17    residence  and relationships of the decedent's heirs, and the
18    portion of the estate to which each heir  is  entitled  under
19    the law where decedent died intestate are as follows:
20         Name, relationship        Age of         Portion of
21       and place of residence      minor            Estate
22                                     OR
23        (b)  The  decedent left a will, which has been filed with
24    the clerk of an appropriate court.  A certified copy  of  the
25    will  on  file  is attached.  To the best of my knowledge and
26    belief the will on file is the decedent's last will  and  was
27    signed  by  the  decedent  and  the  attesting  witnesses  as
28    required  by  law  and  would  be admittable to probate.  The
29    names and places of residence of the legatees and the portion
30    of the estate, if any, to which each legatee is entitled  are
31    as follows:
32         Name, relationship        Age of         Portion of
33       and place of residence      minor            Estate
34        (Strike either 10(a) or 10(b)).
 
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 1        (c)  Affiant  is  unaware  of  any  dispute  or potential
 2    conflict as to the heirship or will of the decedent.
 3        11.  The  property  described  in  paragraph  6  of  this
 4    affidavit should be distributed as follows:
 5                Name                           Specific sum or
 6                                                property to be
 7                                                 distributed
 8    The foregoing  statement  is  made  under  the  penalties  of
 9    perjury*.
10                                        .........................
11                                        Signature of Affiant
12    *(Note:  A  fraudulent  statement made under the penalties of
13    perjury is  perjury,  as  defined  in  Section  32-2  of  the
14    Criminal Code of 1961.)
15        (c)  Appointment  of  Agent.   If  safe deposit access is
16    involved or if sale of any personal property is desirable  to
17    facilitate   distribution   pursuant   to  the  small  estate
18    affidavit, all persons named in paragraph  11  of  the  small
19    estate  affidavit  (excluding  minors  and  unascertained  or
20    disabled  persons) may in writing appoint one or more persons
21    as their agent for that purpose. The agent shall have  power,
22    without   court  approval,  to  gain  access  to,  sell,  and
23    distribute the property for the benefit of all persons  named
24    in  paragraph 11 of the affidavit; and the payment, delivery,
25    transfer, access or issuance shall be made or granted  to  or
26    on the order of the agent.
27        (d)  Release.   Upon  payment, delivery, transfer, access
28    or issuance pursuant to a properly  executed  affidavit,  the
29    person  or  corporation  is released to the same extent as if
30    the payment, delivery, transfer, access or issuance had  been
31    made  or  granted  to the representative of the estate.  Such
32    person  or  corporation  is  not  required  to  see  to   the
33    application  or  disposition of the property; but each person
34    to whom a payment, delivery, transfer, access or issuance  is
 
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 1    made  or  given is answerable therefor to any person having a
 2    prior right and is accountable to any representative  of  the
 3    estate.
 4        (e)  The  affiant  signing  the  small  estate  affidavit
 5    prepared  pursuant  to  subsection  (b) of this Section shall
 6    indemnify and hold harmless all creditors and  heirs  of  the
 7    decedent  and  other  persons  relying upon the affidavit who
 8    incur loss because of such  reliance.   That  indemnification
 9    shall  only  be  up  to the amount lost because of the act or
10    omission of the affiant.  Any person  recovering  under  this
11    subsection  (e)  shall  be  entitled to reasonable attorney's
12    fees and the expenses of recovery.
13        (f)  The affiant of a small estate  affidavit  who  is  a
14    non-resident  of  Illinois  submits himself or herself to the
15    jurisdiction of Illinois courts for all  matters  related  to
16    the preparation or use of the affidavit.  The affidavit shall
17    provide  the name, address, and phone number of a person whom
18    the affiant names as his agent for service of process.  If no
19    such person is named or if, for any reason,  service  on  the
20    named  person cannot be effectuated, the clerk of the circuit
21    court of the county or judicial circuit of which the decedent
22    was a resident at the time of his death shall  be  the  agent
23    for service of process.
24    (Source: P.A. 87-287.)

25        Section  99.  Effective date.  This Act takes effect upon
26    becoming law.