An unsigned affidavit is not adequate for you to close the account and release the funds.  A small estate affidavit must be substantially similar to the sample form set forth in the Illinois Probate Act, which includes requirements that the affidavit be signed, notarized, and accompanied by a certified copy of the decedent’s death certificate. If there was a will, that also must be filed with the clerk of an appropriate court and attached as a certified copy to the affidavit.

If your institution releases the customer’s funds in good faith reliance on an affidavit that is substantially similar to the form set forth in the statute, you are “fully protected and released” from any claims that may be made regarding actions taken based on the small estate affidavit. 

For resources related to our guidance, please see:

• 755 ILCS 5/25-1(a) (“When any . . . financial institution  . . .  holding personal estate of a decedent . . . is furnished with a small estate affidavit in substantially the form hereinafter set forth, that  . . . financial institution shall pay the indebtedness, grant access to the safe deposit box, deliver the personal estate or transfer or issue the evidence of interest, indebtedness, property or right to persons and in the manner specified in the affidavit or to an agent appointed as hereinafter set forth.”)

• 755 ILCS 5/25-1(b) (Outlines the statutory form of a small estate affidavit)

• 755 ILCS 5/25-1(c) (“Any . . . financial institution who acts in good faith reliance on a copy of a document purporting to be a small estate affidavit that is substantially in compliance with subsection (b) of this Section shall be fully protected and released upon payment, delivery, transfer, access or issuance pursuant to such a document to the same extent as if the payment, delivery, transfer, access or issuance had been made or granted to the representative of the estate.”)