
Most people have an inherent fear of Probate and we often hear them say “I MUST AVOID PROBATE! However, modern probate in Illinois is definitely not a bane to be avoided at all costs and any particular problems presented by Probate may be eased by proper legal representation. In some cases probate may even be desired.
Probate occurs whenever a person dies with assets that are not jointly owned or that do not have a beneficiary named. Assets such as a Retirement Account, an IRA, a 401(k), life insurance or Assets owned in Trust will pass to the named beneficiary without Probate. What is a surprise to most people is that if you only have a Will, your assets will be required to go through Probate in order to transfer them.
The Probate process unofficially begins when a person dies. The decedent may or may not have left a will. If there is a will, Illinois Law requires that all originals wills be filed with the Clerk of the Court of the proper county. If there is no will, the estate is known as an intestate estate and the law of "intestate succession" will govern the disposition of estate assets. In these cases, the Illinois legislature has determined who will received the decedent's assets. Therefore, it is extremely important to have a Will just in case you disagree with who the legislature has determined should receive your assets. What is a surprise to most people is that if you only have a Will, your assets will be required to go through Probate in order to transfer them.
Unfortunately, it is the emotional difficulties that often make Probate a trying process. When faced with the death of a loved one, the pressures of dealing with the cherished personal belongings or discovering financial assets combined with the difficulties in distributing the property of the deceased can be overwhelming. Dealing with the dynamic relations among various family members is often an extremely stressful experience. The most tragic problems encountered in Probate arise when family members do not get along and attempt to bring past troubles or grudges into the already complex realm of Probate. All of these strains and burdens may be eased or even completely erased with the help of an experienced Illinois Probate attorney like Argento Law Group, PC. In most cases, when siblings decide to cooperate, probate can be a relatively painless process.
Our firm may even be able to help you avoid the Probate process completely. If your Probate estate qualifies, we may be able to utilize a Small Estate Affidavit to transfer assets on behalf of the deceased. If your bank or stock broker advises you that they need "Letters of Office" before they can transfer an asset, please contact us first. You just might be surprised how much time and money you can save by giving us a call.
We are experienced in all facets of Probate in DuPage, Cook and Kane Counties. Call today for a free consultation and to learn more about the Probate process.
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