Joint tenancy needs express words, and entirety is homestead-only
Under the Illinois Joint Tenancy Act (765 ILCS 1005/1), a conveyance to two or more people creates a tenancy in common unless expressly declared to pass in joint tenancy instead. Tenancy by the entirety is narrower than in some states: it's available only for a married couple's homestead property specifically, not just any real estate they happen to own together. See our full breakdown of Illinois joint tenancy and entirety rules.
A transfer-on-death instrument, recently expanded
Illinois's Real Property Transfer on Death Instrument Act (755 ILCS 27) originally covered only residential real estate when enacted in 2011. It was expanded, effective January 1, 2022, to cover any real property in the state, not just homes. There's a catch most other states' TOD deeds don't have: the transfer only becomes effective once the beneficiary files a notice of death affidavit and acceptance with the county recorder. See our full guide to the Illinois TOD instrument.
Bank accounts keep a specific survivorship carve-out
Illinois abolished automatic survivorship for jointly owned personal property in general, but specifically preserved it for bank and trust company deposits held as joint tenants — a carve-out written directly into the same statute that otherwise abolishes the rule. See our guide to Illinois beneficiary and P.O.D. accounts.
Where this feeds into other Illinois calculators
The probate-estate total from this tool is the starting point for Illinois's probate cost and executor fee calculators, and for checking Illinois's small estate affidavit. Illinois does have a state estate tax on larger estates — see our Illinois Estate Tax Calculator for that separate calculation.