Illinois SB2748 establishes a process for charitable organizations to claim property or information from holders of nonprobate assets.
Illinois SB2748, known as the Charitable Organization Beneficiary Act, allows charitable organizations to request information or transfer of property from holders of nonprobate assets. The bill mandates that holders of such property notify charitable organizations within 30 days if they may have a right to the property. It outlines the requirements for the affidavit that charitable organizations must submit, including details about the decedent, the property, and the organization's tax-exempt status.
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