After a loved one dies, one of the most important matters that will have to be dealt with is the settlement of the estate left behind. If the deceased person left a will, that will really help the process of settling. If not, the matter will still be dealt with, but it will be more difficult. In order to get a better handle on the estate, the loved one’s survivor or executor will probably fare better with an attorney experienced in probate and estates. A probate attorney in Chicago, Illinois helps clients resolve these matters. The following is a piece of information on what may be more helpful to the client.
In Illinois, probate court is the process by which legal precedents are set to ensure that valid debts and taxes of the deceased are paid, and that the ones who rightfully inherit the property does so. Whoever is the executor must prove in court that the will is valid (if there is one). The executor must identify the assets of the deceased person and inventory them. The assets must be appraised and used to pay off debts and taxes. Whatever is left will go according to how the will identifies (or the state, if there is no will).
A formal probate court proceeding only becomes necessary when the deceased person has assets that are solely owned, and those assets are worth more than $100,000. Hiring a probate attorney may be the smartest thing for the executor to do. There will be several documents that must be filled out. All those who are possible heirs to the estate must be notified. In case the executor cannot get them altogether, a bond may have to be set to secure any losses the executor might cause.
Starr Bejgiert Zink & Rowells law firm has over 80 years of combined experience providing legal solutions for clients in the Chicago, Illinois area. In addition to helping clients with probate and estates, they also practice law in real estate, tenant services and landlord evictions. If anyone needs a probate attorney in Chicago, Illinois, they can get more information by visiting www.sbzrlaw.com.
