What is Probate & What is the Probate Process?

Probate

Probate is a court that determines who is the rightful owner of a deceased person. Typically, a case gets to probate court if someone dies without a will or a person dies with a will. If you pass away without a will, the State of Illinois has a statute called "intestate succession". Intestate succession is a statute that says that the surviving spouse gets 1/2 of the deceased person's assets and the surviving children get 1/2 of the assets. If the spouse is deceased, than the surviving children split the inheritance equally.

Will Must Be Probated

A will is a way of distributing assets upon death. It is simple and inexpensive. One misunderstood thing is a will must undergo probate court.

Probate Court Process: Circuit Court of Cook County, Circuit Court DuPage County, & Circuit Court of Will County

Essentially, one person mails out a petition requesting the probate court to grant them the right to administer the deceased person's estate. The notice must go out at least 30 days in advance of the court hearing or get a signed waiver from all the interested heirs that states that they do not oppose the appointment of the person looking to be independent executor. Typically, it takes 45 to 60 days to open up a probate estate. Again, you must mail out a 30 day notice and it takes awhile for the court to schedule a first court hearing. Upon the first court hearing (if not contested), the court issues a "court order", which means that the court grants authority to the person seeking to become the independent administrator.

Independent Administrator or Executor-Probate in Cook, Will, & DuPage County

An independent administrator or executor are the same person. They are responsible for paying any debts (of deceased), publishing a notice to creditors (in newspaper), working with the attorney, and distributing all of the assets to the appropriate beneficiaries. Typically, a big job of the independent administrator is selling real estate and working with a realtor.

An independent administrator has broad powers such as transferring and selling real estate, negotiating with mortgage companies, and paying debts from the decedent's checking and savings accounts.

Final Closing of Decedent's Probate Estate

Within 14 months after opening a decedent's probate estate, the independent executor must submit a final accounting. An accounting should detail the expenses and have signed releases from the heirs stating that they received their inheritance. You also must present proof that you allowed creditors to file any claims within 6 months after death (or after publishing notice to creditors). The surety bond must be paid as well because almost all estates are required to pay annual premiums for surety bonds. A surety bond is a form of insurance in case the independent administrator misappropriates the decedent's estate funds. With all of these things being complete, it is time for the independent administrator to finalize their accounting and get released from additional job duties.

Wills, Trusts, Guardianship, Probate, Estate Planning, & Estate & Gift Tax Planning

For probate, guardianship, wills, living trusts, estate planning, estate and gift tax planning, business entity selection, and asset protection legal advice, Sean L. Robertson is happy to assist you. Sean can be reached at 312 498 6080.

We have two locations:
1. Chicago (Southside)
Robertson Law Group, P.C.
122 East 35th Street, Suite 50, Chicago, Illinois 60616
w) 312 498 6080 f) 312 377 2480
This Office serves South Loop, Downtown Chicago, Southside of Chicago, & West Loop areas of Chicago. We can travel to your office, home, or business location.

2. Chicago Ridge or Southwest Suburbs Location
Robertson Law Group, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 498 6080
e) RobertsonLawGroup@gmail.com

This Office serves Will County, Southwest Cook County, Chicago Ridge, Worth, Palos, Orland Park, Oak Lawn, New Lenox, Frankfort, Mokena, Joliet, DuPage County & other surrounding communities.

Key Words: Probate, Independent Administrator, Wills, Living Trusts, Trusts, Estates & Trusts, Executor, Intestate Succession, Circuit Court of DuPage County, Circuit Court of Will County, & Circuit Court of Cook County.