My Parents Passed Away. Do I Need to Probate Their Estate?
If a parent of yours has recently passed away, you may have heard that you need to do probate. What is probate exactly? Probate is the Court process of collecting a person’s assets and distributing them according to a will, if any, otherwise by the laws of intestacy of Illinois. If your parent passed away in Lake County, Illinois, then the probate would occur at the Lake County Courthouse. If your parent passed away in Cook County, then the probate would occur at the Cook County Courthouse (the Daley Center). You may have to do ancillary probate in other States if your parent or loved one had property in another State.
Does Everyone Need to Go Through Probate When a Person Passes Away?
You may be wondering whether everybody has to go through probate when a person passes away. The short answer is no, there are multiple ways of avoiding it. The first way is through advance estate planning. Probate can often be avoided by creating a Trust and making sure the Trust is properly funded and no assets are passing outside of the Trust except through beneficiary designations. The second way of avoiding probate is if the deceased person’s total assets passing outside of beneficiary designations or a Trust are less than $100,000. Under such a scenario a small estate affidavit can be used instead of probate. It is important to speak with an experienced probate attorney before pursuing a small estate affidavit as it is a serious legal document with important repercussions if used improperly.
How Do I Start a Probate Proceeding?
To open a probate proceeding with the Court, there are a multitude of documents that must be filed with the Court listing heirs, listing assets, getting a bond if necessary, and filing a will. Probate is a complicated process that is usually overseen by a probate attorney.
Important Things to Know About Probate
Opening a probate proceeding with the Court has some interesting consequences. The first consequence is that after filing probate, the estate has the opportunity to cut off unpaid creditors if the creditors do not file a claim in the probate proceeding within the statutory time frame. The second consequence is that the person appointed as representative of the estate will be granted the authority to liquidate assets and distribute them to the heirs or legatees of the estate/will (after paying all valid debts of the estate).
What Information Do I Need to Give to an Attorney to File for Probate?
If you believe that you may need to file a probate proceeding for your deceased loved one, then there is some important information that you will want to collect before speaking with a probate attorney. That information is as follows:
Contact a Gurnee Probate Attorney at Johnston Tomei Lenczycki & Goldberg LLC Today To Discuss Your Probate Matter
If you need probate assistance with the death of a loved one, whether it be filing for probate or creating a small estate affidavit, then contact the Gurnee probate attorneys at Johnston Tomei Lenczycki & Goldberg LLC today to get more information. We will obtain a holistic view of your deceased loved one’s estate so we can be sure that probate will or will not be necessary. We will take over a lot of the probate leg-work so that you do not have to spend your time dealing with financial institutions or the courts.
Phone Number: (847) 549-0600
Fax Number: (847) 589-2263
350 N. Milwaukee Ave., Ste. 202
Libertyville, IL 60048
223 N. IL. Rt. 21, Ste. 14
Gurnee, Illinois 60031
2100 Manchester Road, Suite 920
Wheaton, IL 60187