Navigating the complicated probate and estate administration duties associated with managing an estate can be overwhelming for those unfamiliar with the process. As an Illinois probate attorney, I offer experienced guidance to executors, administrators, and personal representatives to ensure that estates are settled as efficiently and quickly as possible.
I help clients by explaining the probate and estate administration processes, answering questions, and helping to resolve asset distribution matters among beneficiaries. I’ll be by your side to ensure that all estate matters are addressed.
I Invite You to Call Me Today at (708) 279-4050 Today for a Free Consultation to Learn How I Can Help You Manage the Distribution of Your Loved One’s Estate!
If you’re serving as a personal representative (especially for the first time), I know that you will likely have many questions, such as those above. I’m there to help answer your questions and to make sure that your legal obligations are fulfilled.
I help guide personal representatives (the general term used for executors and administrators of an estate) through matters such as identifying assets, retaining an accountant to prepare and file a final tax return, preparing the notifications that must be given to creditors, helping to guide the payment of the proper debts of the decedent, and helping ensure that assets are properly distributed in accordance with a will or intestate law.
Most importantly, I’m there to help personal representatives with the questions that arise (such as the ones noted above).
Probate is the legal process through which an individual’s affairs are resolved after his or her death. This typically involves taking an inventory of property, determining the value of an estate, paying off debts and taxes from estate assets, and distributing the remaining assets to heirs or beneficiaries in accordance with a will or intestate law.
Under the law, an heir is someone who is related by blood to the decedent, such as a father or daughter. In Illinois, if there is no will, the heirs inherit the assets of a decedent in accordance with Illinois intestate law.
If there is a will, the people, organizations, or others named in the will are referred to as “beneficiaries.” Beneficiaries receive assets of the decedent under the terms of the will.
Illinois law requires that the probate process be open for at least six months. Depending on the complexity of a decedent’s estate, probate can range from six months to a number of years (in extreme cases). Typically, the probate process in Illinois takes between six months and one year.
While an executor and estate administrator carry out many of the same tasks, the basis for their position is different. An executor is appointed in a decedent’s will, while an administrator is assigned by a court when an individual dies without a will. Both executors and administrators are often referred to as personal representatives, and their legal duties are similar.
Many individuals mistakenly believe that executing a will eliminates the need for probate. While having a last will and testament can make the probate process less challenging by providing courts with clear instructions regarding how a decedent would like assets distributed, probate is often still necessary.[1]
The executor of the estate (appointed in a deceased person’s will) is typically responsible for probate. However, if an individual dies without a will, a family member (usually the next of kin) must petition the court to be appointed as the administrator.[2] The executor or administrator then acts in the general capacity as the personal representative for the estate.
Because most personal representatives are not lawyers, a personal representative usually will work with an experienced probate lawyer who assists in completing the probate process.
Probate typically entails:
In Illinois, probate can be avoided by submitting an Illinois Small Estate Affidavit.[4] This Affidavit was designed to allow a decedent’s heirs to process a small estate with minimal court involvement. To be eligible to bypass probate, the following conditions must be met:
If you are unsure if these qualifications have been satisfied, I can assist in evaluating eligibility and, if possible, submit a Small Estate Affidavit to avoid probate.
When a person dies, their assets become part of the estate.[6] The decedent and their estate are separate taxable entities.[7] As such, a personal representative must obtain an IRS Tax ID number for the estate and ensure that all necessary federal and state tax returns are filed.[8] In 2020, estates with a value of more than $4 million must file an Illinois state return.[9]
No. A decedent’s estate is responsible for paying all debts, not the executor or administrator. It is the personal representative’s job to gather, inventory, and safeguard the estate. If enough cash is not available to satisfy outstanding debts, property and other assets must be sold. Even if the estate has insufficient funds to cover debts, the representative will never be personally liable for the debts of the decedent.
When there are not sufficient assets to fully pay all debts, I advise personal representatives about which creditors should be paid and how much they should receive based upon their claim and other legal considerations.
Illinois intestacy law requires that beneficiaries receive an equivalent share of the property, which is calculated based on fair market value. While investments, money, and bank accounts can easily be valued, heirlooms and other sentimental items may have little to no market value.
When an estate is comprised of sentimental items, a family settlement agreement can be utilized to distribute assets amicably. As an experienced probate and estate administration attorney, I can assist in the division of both financial and sentimental assets, as well as prepare a settlement agreement that will protect a personal representative.
Probate and estate administration can be complicated and stressful. At RNH Law, I help executors and administrators settle estates from start to finish. I would invite you to call my office to learn how I can help.
[4] There are other ways to avoid probate, but they are less frequently used.
[6] Deceased Taxpayers, IRS, https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-filing-the-estate-income-tax-return-form-1041.
[7] Deceased Taxpayers, IRS, https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-filing-the-estate-income-tax-return-form-1041.
[8] Deceased Taxpayers, IRS, https://www.irs.gov/businesses/small-businesses-self-employed/deceased-taxpayers-filing-the-estate-income-tax-return-form-1041.
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