Chicago and North Suburban Illinois Probate Law Attorneys
Most people who sit down with our probate and estate planning law attorneys at Charles T. Newland & Associates think of probate as merely something that happens when a friend or loved one passes away. There are actually three types of probate: death probate, disabled adult probate, and probate for minor children.
We’ve successfully represented our Cook, Lake, McHenry, and Kane, DuPage, McHenry County clients in all three kinds of probate actions for the past 20 years, and we can do the same for you.
The testate variety of death probate means the person who died did so with a valid will in effect at the time of his or her passing. Intestate means that the person died without a will that set his or her affairs in order.
The person who has a last will and testament can decide which survivors should receive certain assets and gifts upon his or her death. In intestate probate, the decedent’s heirs inherit the assets as determined by Illinois state law. In testate probate, most wills have a waiver on the bond of the executor. With the intestate, there is no waiver of surety on the administrator’s bond, which then requires the estate to purchase a surety bond or insurance policy to further secure the performance of the administrator. The amount of the insurance policy can be valued at one-and-a-half to two times the amount of personal property in the estate.
In both testate and intestate death probate, the estate cannot be closed and the executor or administrator discharged until a claim period has passed. The representative of the estate is also called upon to post public notice of how and where claims against the estate can be made. The representative of the estate provides an inventory of all estate assets, and an accounting of all receipts and disbursements made during the period of administration. Then the final report is filed and permission to discharge from the probate judge to close the estate is obtained.
Disabled Adult Probate
Disabled Adult probate law cases are filed in the event that an adult over the age of 18 is found to be either incapable of making health care decisions in his or her best interests, or is unable to manage his or her own financial affairs. The person appointed to attend to the disabled adult’s health care issues is considered the guardian of that person. A guardian of the estate is appointed to take care of the disabled person’s financial matters. It is possible to have one without the other, and it is also possible that the same individual could be appointed to fill both roles.
Probate for Minor Children
If the minor has parents but lacks sufficient assets, then generally there is no need to appoint a guardian for him or her. If a minor acquires assets via inheritance or a personal injury settlement, a guardian for the minor’s estate must be appointed. Even parents of a minor with substantial assets appointed by a probate judge as guardian of the child’s estate must provide a budget of expenses, an inventory and an annual accounting of the minor’s funds.
Contact Charles T. Newland & Associates
Our Charles T. Newland & Associates probate attorneys have extensive experience in assisting representatives of probate estates with administration. We also have the litigation experience necessary to handle contested matters that arise during the course of a probate. We can also show you how to avoid probate in the first place.
For more information on probate law and probate administration, please visit our Probate Information Center
If you’re anywhere in Northern Illinois and need quality representation in the fields of probate and estate planning, you can depend on our reputation for legal knowledge and client focus. Call, fax, or e-mail any of our four locations in Arlington Heights, Libertyville, Crystal Lake, and Chicago to schedule your free initial consultation.