What happens when you die without a Will?

When you die without a will in the State of Illinois, there is a state law that determines who inherits your assets. The court that is responsible for administering these issues is probate court. If you die without a will, your spouse (if you have one) and your children each will inherit fifty (50) percent of your assets. For example, a Husband dies without a will and owns a home in Orland Park. Husband has a wife and three children. The wife will get 50 percent of Husband's assets and the three children will split 5fifty (50) percent of his assets. If there is no spouse, than the children will inherit and split all of their father's assets.

The law is called intestate succession. With probate court, one must open an estate, which must have an executor. An executor is responsible for distributing the deceased person's assets such as real estate, cds, checking, savings, and any other personal assets. In Illinois, there are two types of executors: independent administrators and supervised administration. Independent administrators simply complete the tasks of paying creditors and distributing assets and return no later than 14 months later and give an accounting to the probate court. Independent administrators work work without having to obtain court orders to sell real estate or distribute assets from accounts.

In contrast, Supervised Administrators must obtain court approval before distributing any assets or selling real estate. If one heir does not trust the other executor, they likely will ask for Supervised Administration. This is a very costly process and frustrating because often times simple tasks are made difficult due to obtaining court orders. Court rooms are not designed to expedite matters quickly.

Probate is a time consuming and costly proposition. Attorney's fees generally range from $3,500 (simple estates) to $50,000 in legal fees (complex and disputed estates). Costs range from $500 to $1,000 for fees such as surety bonds, court filing fees, photocopies, mail and certified mail, and yearly surety bonds fees.

In conclusion, Robertson Law Group can assist you with Probate, Guardianship, Wills, Living Trusts (or Revocable Living Trust), Estate Taxation Planning, and Powers of Attorney for Healthcare and Property. We can be reached at 312 498 6080 or RobertsonLawGroup.com. We serve the Southwest Suburbs, Cook County, Will County, & DuPage County.