Illinois Probate Laws - What You Need to Know

Probate is a legal process used to decide estates after death. The probate process in Illinois is fourfold. First, probate must be opened with the clerk of the court in the county where the decedent last resided and intended to remain. If the decedent owned real estate in complicated States, ancillary probate must be opened in all of those States. In Cook County, the probate court is placed on the 12th and 18th floors of the Daley center in Chicago.

Next, a court rules on a decedent's heirs, or beneficiaries of the estate. Heirs of an estate do not necessarily have to be connected to a decedent. Furthermore, not all of a decedent's children or relatives are necessarily heirs. Illinois law also requires consideration to the group when a decedent's estate is probated so that any creditors can come send to claim assets. Third, a court rules on either a decedent's will is valid.

Knox County Personal Property Tax

Finally, a court appoints an executor (if there is a will) or an administrator (in cases where there is no will) of the estate. If a man dies without a will, the administrator of the estate will be carefully by the following order of preference under Illinois law: (1) surviving spouse, (2) heirs (beneficiaries of the will with preference for children first), (3) children, (4) grandchildren, (5) brothers and sisters.

Probate is not required in Illinois if the decedent set up a living trust, or if the decedent's estate was jointly held. Jointly held asset regularly includes real estate where two habitancy are tilted as joint tenants, joint bank accounts, and life insurance with a named beneficiary. In addition, probate is not required when a decedent's estate is worth less than 0,000 and includes no real estate.

Even when probate is not required, it can still be smart to open an estate in probate court. For example, if whatever owed a decedent money, probate can be used to secure that money on behalf of that decedent.

Furthermore, probate is a helpful process when a will is contested. For example, if a decedent was unduly influenced to sign a will while mentally incompetent, a court can rule that the will is defective. In addition, probate can be a helpful tool when there are disputes in the middle of heirs over assets.

All of the work complex in probate regularly requires the assistance of an attorney. Probate can be a difficult process, especially when a will is contested or when there are disputes among heirs. Probate attorneys can support with production the process as fair as possible. Furthermore, Illinois probate attorneys help with added matters legal matters surrounding a loved one's death, such as paying both federal and Illinois death taxes.

Again, probate is a legal process that helps to ensure a decedent's estate is distributed fairly and according to his or her wishes. Although it is not always required by Illinois law, probate can be highly helpful process for settling a decedent's estate.

Illinois Probate Laws - What You Need to Know