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In this article, our Naperville probate attorneys explain when probate is necessary in Illinois.
Probate is a court case in which the court oversees the distribution of a decedent's assets to his or her heirs and creditors. In order to administer an estate in Illinois, probate will be necessary if:
(1) The decedent owned any real estate outside of a trust that is not deeded with a right to survivorship for the decedent's spouse (even if there is a mortgage) outside of a trust; OR
(2) The decedent owned more than $100,000.00 in assets outside of either a trust or outside of accounts that are payable to a direct beneficiary upon death.
If probate is necessary, the person responsible for administering the estate, known as the executor, must have letters of office issued by the probate court before he or she can begin collecting the decedent's assets for distribution to creditors and heirs. The executor will also have to file accountings, notices, and reports with the court regarding the collection and distribution of these assets.
In this article, our Naperville estate lawyers elaborate on why it's best to have a probate attorney by your side in your probate matter.
In cases in which probate is required, the executor of the estate or the next of kin cannot take the actions necessary to administer the estate without the authority granted by the probate court. In this episode, we give you 5 reasons to hire an attorney to avoid liability and syour probate matter. Attorneys will prevent personal liability for your actions as , complete the case more quickly, minimize the potential for .
In order to open a probate estate, our Naperville probate attorneys will file several documents with the probate court:
Upon filing of these documents, a hearing will be held to appoint the executor and admit the will to probate.
Read more about how to open a probate case from our Naperville probate lawyers.