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Probate

Illinois, Chicago, Lake County, Waukegan

Probate is a trying process because of the circumstances surrounding it. These usually include:

The death of a loved one
The pressure of dealing with large amounts of assets
The difficulty in rounding up and discovering financial and personal information of the deceased
Dealing with the delicate relations among various family members

All of these strains and burdens may be eased or even erased with the help of experienced probate lawyers like The Law Offices of Thaddeus M. Bond, Jr. & Associates, P.C.

What is probate?

Probate is the process by which the probate court, with the help of a personal representative (the executor or administrator), determines who receives the property and assets of the deceased person. This would be heirs, creditors, or legatees (persons named in wills), etc. Probate also makes sure that the proper, entitled persons receive the property and assets.

There may or may not be a will

The person who passed away, known as the decedent, may or may not have left a will. If the decedent left a will, he or she is then known as a "testator".

If there is a will, Illinois Law requires that all original wills be filed with the Clerk of the Court of the proper county.
If there is no will, the estate is known as an intestate estate and the law of "intestate succession" will govern the disposition of estate assets. In these cases, the Illinois legislature has determined a statutory manner of distribution that will be followed.

Opening probate

Whether or not there is a will, a person wanting to open probate will file a petition with the court to open an estate.

For the probate of a will, notice is generally sent after the will is admitted to probate and the executor is granted letters of office.
For an intestate estate, the law requires that notices be sent to all heirs and legatees. If this is not done, their waiver and consent to probate and the appointment of an administrator must be obtained.

The personal representative

Next, barring a will contest or formal proof of will, the named executor in a will (or in the case of intestacy some interested party) will be declared the personal representative of the estate by the probate court.

The representative's duties are quite simple. They are basically:

To collect and preserve the assets of the estate
To pay the debts and taxes
To distribute the remaining assets as directed by the intestacy statute or by the last will

The task may be daunting for large estates or people not experienced with financial matters. A personal representative must keep an accounting of the records of all transactions involving the estate, and must prepare an inventory to present either to the heirs or to the court, depending on the manner of administration.

Once the estate is open, the court will issue "Letters of Office" to the personal representative which, with a death certificate, will allow the representative to act on behalf of the estate.

Creditors

Notified creditors must file their claims during the "claim period" or else their claim will be barred. A simple estate will be open for a minimum of six months from the date the executor is appointed and notices are mailed to creditors. In many cases, no claims are filed and the estate can be closed.

Finishing up

After all claims are paid and the inventory and accounting are completed, the representative can distribute the assets of the estate as per the will, collect receipts from those person's receiving shares of the estate, and close the probate estate. The entire process can take anywhere from nine months to many years, depending on the size and complexity of the estate.

Potential problems

The most common and most tragic problems encountered in Probate arise when family members do not get along, and attempt to bring family troubles or grudges into the already complex realm of Probate. In most cases, when siblings or legatees get along or decide to cooperate, probate can be a relatively painless process.