Hyde Park Uncontested Probate Attorney

Answer: Probate refers to the process in which the executor of an estate will oversee the legal transfer of ownership of assets from a deceased person to his or her beneficiaries, as well as the payment of any outstanding debts or taxes. The executor is responsible for carrying out all tasks involved in the probate process.

Answer: The executor of an estate may be named in a person's will, or they may be appointed in probate court. To open a probate case, you the executor will typically submit the deceased's death certificate and will (if applicable) to the appropriate local court. In a local newspaper, the executor will post notice of the deceased's passing for any creditors who may seek to collect or people who believe they are eligible to inherit from the deceased person. Then, the executor must take an inventory of all of the deceased's assets, as well as their debts and state/federal taxes. Once all debts have been settled, taxes have been paid, and assets have been distributed to beneficiaries, the executor will submit a final accounting to the court. An uncontested probate attorney can provide assistance throughout every stage of this process.

Answer: Probate is considered uncontested if all beneficiaries agree to the terms of the will without argument. If there are disagreements about the validity or interpretation of the will, the case will be contested. Uncontested probate is a much less complicated process than contested probate, and cases can usually be closed within shorter timeframes.

Answer: An uncontested probate can generally be closed in less than a year. This includes the process of notifying any creditors of the deceased, who have six months to make any claims on the estate. The total amount of time required will often depend on the complexity of the estate's assets.

Answer: Smaller wills and estates can be settled outside of court if a probate case is uncontested. If the deceased's assets are worth less than $100,000, and their assets do not include real estate, an Illinois Small Estate Affidavit can be filed, allowing the case to be closed more quickly.

Other methods of avoiding probate include using trusts or other types of assets that may be passed directly to beneficiaries. A living trust enables a person to transfer assets to beneficiaries while they are still alive or after their death. Other types of trusts may also be used to manage and distribute assets, and these transfers are handled outside of probate. Assets with named beneficiaries, such as transfer on death instruments, can also be distributed directly to beneficiaries outside of probate.

Answer: In many cases, the probate process will be necessary to ensure that assets can be distributed to heirs correctly. However, some people who inherit real estate property may want to determine their options for selling these assets quickly without going through probate. This may be possible if the property was jointly owned by the heir, if it was held in a trust such as a land trust, or if a transfer on death instrument had been created. A bond in lieu of probate created through a title company may also provide an easy and efficient solution for selling property. Our attorney can provide guidance on the options for selling inherited property, and we will ensure that all legal concerns related to probate and asset distribution will be handled correctly.