Probate Attorneys Help You Through a Complex Process
Probate is a legal proceeding to administer certain types of property owned by someone who has died. The purpose of probate is to ensure that claims, expenses, and taxes are properly paid and the remaining estate is distributed to those entitled to receive it per the terms of the will or the Illinois Probate Act.
Where Does Probate Take Place?
A probate proceeding takes place in the probate court of the county in which the deceased person lived, and if the person owned property in another state, additional proceedings in that state might be necessary.
Why is Probate Necessary?
Probate is necessary to give the executor or administrator of the will the authority to control, protect, and distribute the assets of the estate. Probate also provides a process for the payment of outstanding debts, taxes, and other expenses, and for the distribution of the remainder of the estate to the beneficiaries and heirs.
Administering Probate
When an estate goes through probate, a person, or executor, must be appointed to conduct the administration of the estate. The appointment of an executor or administrator is usually done through a will, but if there is no will or no person named, the executor or administrator will be appointed by the probate court. The executor or administrator may be an individual, bank, or trust company.
What Isn’t Included in Probate?
Non-probate property includes:
- Property the decedent and another person held as joint tenants with the right of survivorship
- Property held in a trust
- Accounts that are payable on death (POD) or will transfer on death (TOD) to a named beneficiary
- Insurance or retirement benefits that are payable to a named beneficiary
If you have questions regarding probate in Prospect Heights, Illinois, the attorneys at NTegrity Law will take the time to explain it to you and help you weigh your options. Contact them online or call (847)-737-1800 to set up your free initial consultation today.
