Probate courts oversee settling estates when people die, as well as naming guardians for those unable to care for themselves.
Most people experience probate when a loved one dies and their estate is settled through the probate process. An uncomplicated probate case takes about a year to conclude, but those settling modest estates can petition to avoid Illinois probate completely.
Illinois Probate, Step by Step
Not all of a person’s assets go through probate in Illinois. When assets are part of a trust or accounts are assigned to a beneficiary, those items are not probated. In addition, when property is jointly held with the right of survivorship, the co-owner automatically becomes the deed holder without the involvement of probate. Protecting an estate through these financial vehicles and methods is the job of an experienced estate planning attorney who knows the intricacies of the Illinois probate process.
The remaining assets are likely to go through probate, following these steps:
- Location. The county with jurisdiction over an estate is usually the person’s primary residence. An ancillary case in another jurisdiction may be necessary if property was owned in another state. Sometimes a probate judge decides the jurisdiction for those with multiple real estate holdings.
- Petition. The executor files the deceased’s will and death certificate, along with the necessary petition to open probate proceedings within 30 days of the person’s death.
- Executor. The court must approve an individual to act as executor. The will often names an executor, but it’s not unusual for that person to step aside and an alternate to be named. Executors must be at least 18 years old, a resident of the U.S., of sound mind, and without a serious criminal history. In Illinois the executor must post a bond as insurance against mismanagement of the estate.
- Notification. The executor is responsible for notifying the descendants of the estate in probate within two weeks of the death. A list of heirs is provided to the court.
- Accounting. A full accounting and appraisal of all assets and funds contained in the estate must be presented to the court within 60 days of the executor’s appointment. If the value of the estate is below $100,000 and does not involve real estate, it’s likely to qualify for an expedited process that avoids most of probate.
- Advertising. The executor must run newspaper advertisements for a specified period, usually three weeks, to notify any creditors of the estate in probate. Creditors have six months to make claims against the estate.
- Contests. Individuals who claim the will in probate is erroneous have six months to bring their case to the court. This may happen if a person was named as an heir in a previous will but left out of the will delivered to probate.
- Payments. The executor pays all taxes, outstanding bills, “legacy” gifts that the deceased has directed, and incidental costs related to the estate.
- Disbursement. Heirs and others named in the will or affirmed by the court receive their sums and inheritances.
- Exit. The executor files documents providing details of the estate disbursement with the court and seeks to close the case.
Pros and Cons of Illinois Probate
Illinois probate court procedures often take up to two years to conclude, which is longer than many other states. The positive side of probate is that it’s a final step. Once the court approves the executor’s actions, all claims of debts or inheritance related to the estate are ceased.
Probate fees are established by county in Illinois and are not based on the size of the estate.
Critical Help for Estate Planning and the Probate Process
The probate process can seem overwhelming. The executor must make time to follow each requirement carefully and fully, or risk having the court reject the estate.
At Legacy & Life Law Firm, we help people plan their estates to avoid much of the probate process, including setting up trusts that exempt assets from probate, keeping them out of the public eye. Through estate planning we streamline the probate process and put your assets in the hands of your heirs more quickly.