People should avail themselves of every possible opportunity to avoid the probate process because it can be tedious and time-consuming. Thankfully, Illinois does not require that every estate go through probate, as there is an exception for estates under a certain value. In Illinois, the requirement for an estate to be considered small is that it is valued at…
Disabled adults need people to manage their personal and financial affairs when they lack the capacity to do so. The court will appoint a guardian in a special proceeding. The court has the discretion to appoint who it wants, but it will usually consider certain factors before making the decision. Guardianship is a decision that the court weighs heavily…
Every estate has people who are legally entitled to receive the assets. These are the beneficiaries. Ideally, they are set forth in the will or estate plan that details how the property is to be distributed. It is up to you to review your own situation to decide who will be the beneficiaries. There are few limitations on who…
The estate’s executor serves an incredibly important role. This is why it is best to use great care in selecting the person who performs this duty. Before choosing an executor, it is important to understand what they do with regard to the estate. Simply stated, the executor handles the estate. They are responsible for managing all the property until…
Probate is something that concerns many people dealing with an estate. The process can be tedious and time-consuming. However, some families manage to make it through probate with a minimum of difficulty. The judge can play an important role in the probate process. Your best hope is that the probate court judge performs mostly an administrative function in your…
BASIC BULLET POINTS FOR THOSE THINKING ABOUT DOING AN ESTATE PLAN By Chuck Newland Doing an Estate Plan, whether it’s a Will or a Trust plan, is a personal choice based on your priorities. Don’t let yourself be talked into something that doesn’t meet your specific needs and don’t settle for less than what you want accomplished. Allow yourself…
While a large part of your will is about who will inherit your possessions, those are not the only things that you could include in the document. A Libertyville estate planning lawyer could help you figure out what should be in your will. An Executor Every will has someone who is tasked with managing the estate. They will pay…
In some cases, there may be tension between the beneficiaries and the executor of an estate. This could involve allegations that the executor is not honoring their fiduciary duty to the estate. However, it is very difficult for the beneficiaries to remove the executor. This is not to say that the executor can do whatever they want without any…
Power of attorney and guardianship are both ways that someone can act in place of another person. The main differences between the two of them are how control is obtained and maintained. In a power of attorney, the process happens outside of court, while with guardianship, the court plays a major role. How Power of Attorney Works A power…
One of the common reasons for will contests is that an interested party will claim that the testator did not have the mental capacity to sign the will. This launches an inquiry into what their mental state was at the time. Testamentary capacity in Illinois involves the following. Knowledge of the extent and nature of their property Their relationship…
