The death of a relative or loved one can be devastating and can take some people a substantial amount of time to complete the stages of grief. The last thing you need to be focused on or worry about is how to distribute the decedent’s assets. After a loved one’s death, many people do not know what to do or where to turn for guidance, but Pinkston Law Group is here so you never have to suffer or go through this alone. Our dedicated and compassionate attorneys are ready and willing to help grieving families navigate through the probate and estate administration process and we can assist in tying up loose ends and distributing the assets of a deceased person.
In Illinois, probate is the legal proceeding through which a person’s assets are transferred after his or her death. Probate is initiated by filing a petition and paying the Clerk’s Fee to file. The court of law in the county where the deceased has died or has property, oversees the probate and estate administration process, and is designed to protect the heirs or anyone with a legal interest in the deceased person’s estate. Probate is used to distribute a decedent’s assets not only to beneficiaries, but also to creditors, and taxing authorities, if there is money available in the estate.
In Illinois, a deceased person’s estate that exceeds $100,000.00 in value, must go through the probate and estate administration process, unless the property is subject to certain exemptions, which may include assets placed in a revocable living trust, property that is titled jointly with another individual, life insurance, and any retirement funds with named beneficiaries. Not everyone dies with a Will, which is called intestate and Illinois laws on intestacy provide guidance.
When you design an estate plan, you essentially choose people who will play certain roles upon your death which can include:
The probate process is usually initiated by a petitioner or someone who is either the executor or executrix, if there is a Will or by an independent or special administrator if the decedent died intestate or without a will. If an executor was not chosen, the court will generally appoint a relative, financial institution, or trust company to fulfill the role.
In Illinois, an executor or executrix typically identifies or takes inventory of the assets of the person who dies, manages them, pays any outstanding debts, taxes, or estate expenses, distributes assets that are required by Illinois law, and then distributes any remaining assets or property to the decedent’s heirs or legatees.
Commencing a Probate proceeding, managing, continuing, and or closing an estate can be confusing and time-consuming. At Pinkston Law Group, we understand Illinois Probate Laws and how to assist our clients as we navigate through the administration. Prior to the necessity of probate, we can also develop a comprehensive probate strategy that avoids the process completely.
We know Illinois Estate Planning laws and what is required to ensure that not only can you live, but you can rest in peace. Pinkston Law Group believes in, “Meeting your legal needs with professional and integrity.” Not only do we know how to work efficiently, but we strive to ensure that every client has relevant information about the issues involved in their case, they understand the basics of Illinois Probate and Estate Administration, and are given relevant resources to equip and let them know what to expect during the process.
To learn more about probate and estate administration services we offer, you should speak with our Illinois Probate Attorney. Contact Pinkston Law Group today at (773) 770-4771 or online from our website.
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