Although people often fail to realize it, one of the most important decisions that needs to be made when creating a Last Will and Testament is the appointment of the Executor. The Executor is the individual who will be responsible for probating the Will after the death of the Testator. Ideally, the Testator of a Will discusses the appointment with the chosen Executor at the time the Will is executed; however, it is actually rather common for a Testator not to tell the Executor about the … [Read more...] about What Is Involved When I Probate a Will?
Probate Process in Illinois
If you find yourself involved in the Illinois probate process, as an Executor, beneficiary or heir, or even a creditor of the estate, you may wish to know how long the probate process takes. Given the unique nature of each estate that goes through the probate process there is no universal time frame that applies to the probate process. If you need an estimate for the probate process in which you are involved it is best to consult with an experienced Illinois estate planning attorney. In general, … [Read more...] about How Long Does the Illinois Probate Process Take?
Losing a family member or loved one is difficult enough if you are not also involved in the practical aspects of that loss. If you are also the Executor of the decedent’s estate it can be an emotional rollercoaster for you, particularly if you have never served as an Executor of an estate before now. Although every probate process is unique, there are some common pitfalls that you should try to avoid as the Executor of the estate because those pitfalls could cost both you and the estate a … [Read more...] about Pitfalls of the Probate Process for the Beginner
Like most people, you will likely find yourself involved in the probate of an estate at some point in your life. Whether you are appointed the Executor of an estate, qualify as a beneficiary or heir, or are a creditor of the decedent, you may quickly find yourself asking “Why does probate take so long?” You are not alone in asking that question. Most people who are unfamiliar with the probate process are surprised, and often a bit irritated, when they realize that it often takes months – if … [Read more...] about Why Does Probate Take So Long?
When you die you will leave behind an estate. Your estate will consist of everything you own, including personal and real property as well as tangible and intangible assets. All of you property and assets must be accounted for and eventually be transferred to you legal heirs or designated beneficiaries. Topics covered in this report include: What Is Probate? Is the Probate Process the Same in All States? Is There an Alternative to Formal Probate? Testate vs. Intestate Estates What Is the … [Read more...] about Free Report: The Illinois Probate Process