MANAGING PROBATE MATTERS: TRUSTED ADVISORS IN PROBATE
Understanding the Probate Process in Illinois
Probate is the legal process through which a deceased person's estate is properly distributed to heirs and designated legatees and any debt owed to creditors are paid off. At Katherine L. Maloney & Associates, LLC, we understand that navigating probate can be overwhelming, especially while grieving the loss of a loved one. Our compassionate attorneys provide knowledgeable guidance through every step of the Illinois probate process.
When Is Probate Required in Illinois?
Probate is generally necessary in Illinois when:
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The deceased owned assets solely in their name valued at more than $100,000;
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The deceased owned real estate outside of a trust;
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Beneficiaries are contesting the will or distribution of assets.
The Illinois Probate Process
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Filing the Petition
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The process begins with filing a petition in the probate court in the county where the deceased person resided. If there is a will, the named executor typically files this petition. If there is no will, a family member usually petitions to become the administrator of the estate.
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Notice to Heirs and Creditors
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Once the petition is filed, notice must be given to all heirs and legatees named in the will, either before or after the first court date. Additionally, notice to creditors must be published in a local newspaper, giving creditors six months to file claims against the estate.
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Inventory of Assets
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The executor or administrator must compile a complete inventory of the deceased's assets, including real estate, bank accounts, investments, personal property, and other valuables.
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Paying Debts and Taxes
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Valid debts and taxes must be paid from the estate before distribution to beneficiaries. This includes funeral expenses, outstanding loans, credit card debts, and any estate taxes.
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Distribution of Assets
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After debts and taxes are paid, the remaining assets are distributed according to the will or, if there is no will, according to Illinois intestacy laws.
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Closing the Estate
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Once all assets have been distributed and obligations fulfilled, the executor files a final report with the court to close the estate.
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Small Estate Affidavit
For estates valued at less than $100,000 with no real estate, Illinois offers a simplified probate alternative known as a Small Estate Affidavit. This document allows heirs or legatees to claim assets without court proceedings, saving time and money.
Our Probate Services
At Katherine L. Maloney & Associates, LLC, our experienced probate attorneys can assist with:
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Guiding executors through the probate administration process
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Preparing and filing necessary legal documents
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Resolving disputes among beneficiaries
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Managing creditor claims
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Assisting with Small Estate Affidavits
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Representing clients in contested probate matters
Proactive Estate Planning
The best way to minimize probate complications is through comprehensive estate planning. Our firm offers complete estate planning services to help you create wills, trusts, and other arrangements that can simplify the transfer of assets to your loved ones while potentially avoiding probate altogether. We are here to help you with your estate plan so that it survives any challenge during probate. If you are the executor or beneficiary of an estate, we can also guide you through the probate process.
Why Choose Our Probate Lawyer in Will County, Illinois for Probate Matters
Our attorneys bring decades of experience in Illinois probate law to every case. We combine legal expertise with compassionate service, understanding that our clients are going through a difficult time. We strive to make the probate process as straightforward and stress-free as possible while ensuring your loved one's wishes are honored and your family's interests are protected. If you have questions, contact Katherine L. Maloney & Associates, LLC either online or at 815-556-2057 to schedule a Free Consultation with our probate lawyer today.
