If a person with an interest in the estate, such as an heir, beneficiary, or creditor of the decedent, believes the authenticity of a will is questionable, they have the right to contest the will in question. A will cannot be contested simply because interested parties are unsatisfied with its terms. Verbal confirmation of a will’s terms is not considered valid grounds to contest either.
When family members of a deceased person are unable to locate a will, either because it’s unknown if a will was completed or because its location is unknown, the will is considered lost. This is an issue for heirs, beneficiaries, and creditors because only the original copy of a will can be admitted to probate in Illinois. A will must be filed within 30 days of a person’s death in Illinois. Though the grieving process is strenuous, avoid putting off searching for a will if its location is not known. On the other hand, it is a felony to purposely not file a known will in Illinois.
If the decedent has a valid will, the person the decedent named as executor in the will is responsible for a full accounting of the estate, the distribution of assets and providing an estate accounting to anyone that is classified as an interested person or party. If there is no will, or an executor has not been named, an administrator appointed by the court will be responsible for the estate accounting, as well as all other duties expected of an executor.
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Probate matters in Iowa are the official manner in which an estate is settled under supervision of the court. When a person dies without an established will, an executor is appointed to gather and value owned assets, settle remaining debts, and distribute assets to heirs. Probate prevents fraud and theft after a death. Without it, debts could go unpaid and assets could be improperly distributed.
A trust is a legally binding arrangement between three parties where a trustor grants a trustee permission to hold assets on behalf of a beneficiary. Though there are many types of trusts, all with different purposes and benefits, they can all be contested within the Iowa court system. An heir or beneficiary may wish to contest a trust in Iowa simply because they don’t agree with its terms, but their request will be denied. In Iowa, there are four accepted grounds to challenge the validity of a trust.
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. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
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. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
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. Probate is a complicated process that requires executors to prepare forms, meet deadlines, keep records, generate reports, submit filings to the court, and serve notices to creditors, heirs and local newspapers.
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