Probate Administration
Probate administration is, in general, a Court proceeding to authenticate a deceased person's last will and testament and to see to the proper payment of all just debts, fees and costs and ultimately to make sure that the assets subject to probate are distributed per the decedent's will. Alternatively, where a person dies without having a will, probate adminstration is to see to the proper distribution of assets of a deceased person by paying all just debts, fees, costs and, at the conclusion of the probate proceeding the final distribution to the person entitled to receive the deceased's assets. When a person dies without a will (intestate), the net assets of a probate estate are distributed to a person's heirs at law, if known, or if unknown, the assets would ultimately be paid to the county treasurer to be held for a certain period of time until known heirs are found and, if none found, the State of Illinios would receive the funds.
In Illinois, probate is not mandatory unless a deceased's personal estate is greater than $100,000 in value. The personal estate subject to probate are all assets that are not an interest in real estate and are in the decedent's name alone without any joint tenant or beneficiary designation.
Probate administration in court, may be a valuable tool to use even if probate is not mandated. Probate can cut off creditor's claims, provide an easy (and cheaper) way to transfer title to real estate or to defend potential claims against a decedent and may be required if there are potential claims or controversys.
For estates where probate is not mandatory, an Illinois Small Estate Affidavit can be used in some cases.
Please contact us to discuss any probate questions you may have.