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 less than $100,000, and there is no real estate.
There Are Several Simplified Probate Procedures
First, there is a small estate affidavit that can be used when the estate is below the threshold. This can only be used when there are no fights over the assets. Small estate affidavits are available with or without a will. The executor can write to the bank or any institution that owns an asset and request that it be distributed. The executor must list the funeral expenses and promise that they will be paid.
Second, an executor can file a written request with the court to use a simplified procedure when the estate is below the threshold. All the beneficiaries must agree to this in writing. The executor would publish notice of the death and the hearing once a week for three weeks straight in the local newspaper. Then, the estate would not need to go through the full probate process before it could be distributed.
It is in your best interests to avoid probate if you can, but that is usually not possible for all but small and less complex estates. Chances are that you will be going through this process.
Learn More from Our Lincolnshire and Lake County, IL Probate Lawyer
The Law Offices of Charles T. Newland & Associates helps families with wills and other estate planning matters. Call a Lincolnshire and Lake County, Il probate lawyer today at 847.797.9300 or contact us online to learn what we can do for you to help you through a difficult time.