You may have a lot of unanswered questions when it comes to certain aspects of Elder Law. I understand this is a worrying and difficult time, and always here to help. As a Certified Probate Real Estate Specialist (CPRES) I am an expert in my field. My job is to inform you of the most accurate and up to date information that is currently available. If, however, you would prefer to discuss your issues directly, I welcome you to call me 708-439-0165 - dalelesleytaylor@peoplepc.com. I am a ...
CERTIFIED PROBATE SPECIALIST SERVING THE CHICAGO AREA
PROVIDES TIMELINE OF PROBATE PROCESS
RESOURCING EXECUTOR'S DUTIES AND/OR ADMINISTRATOR'S RESPONSIBILITIES
COORDINATES PURCHASING PROCESS OF HOME
EXPLAINS PROBATE TERMS
MAINTENANCE OF HOME RECOMMENDATIONS
COMPLIMENTARY PROBATE MARKET EVALUATION OF HOME (PCMA)
EFFECTIVE PLAN FOR MARKETING HOME
STAGING OF HOME
GUIDANCE ON MISTAKES NOT TO MAKE, AND EXTRA EXPENSES TO AVOID
GIVE ME A PHONE CALL TODAY, AND I WILL BE GLAD TO GIVE YOU THE DETAILS YOU NEED, TO CONVERT AN ESTATE RESOLUTION PROBLEM INTO SUCCESSFUL SOLUTION! 708-439-0165 - dalelesleytaylor@peoplepc.com.
HTTP://DTAYLOR.ILLINOISPROPERTY.COM
HTTP://USPROBATESERVICES.ORG/DALETAYLOR
Probate (Death Intestate) ? Death Without a Will or Living Trust - (The following information is graciously provided by ChicagoEstateLawyer.com).
If you don?t have a will or living trust in place when you pass away, your assets are subject to Illinois? intestacy laws. Even if you have written a will but not a living trust, your assets will likely go to probate. These laws determine which parties are to inherit a deceased individual?s assets depending on which descendants he or she has. This can be contested in probate court, but it is an expensive and lengthy process.
Probate is the process through which the court identifies and appraises a deceased individual?s assets, then pays the associated taxes and debts, followed by distributing the remaining assets to the deceased?s beneficiaries. Choosing an experienced Probate attorney in Joliet to help you draft or modify your plan can reduce or even eliminate the need for an estate to go through probate, which can be expensive for the deceased?s family and potentially create family arguments and problems.
After receiving assets, whether through a will or intestacy succession, beneficiaries can be subject to estate taxes if the deceased did not take careful measures to reduce or eliminate these taxes. In some cases, receiving assets can put a beneficiary deep into debt.
Probate is the legal process through which a deceased individual?s heirs receive his or her assets. It also ensures that the deceased individual?s outstanding debts and taxes are paid off using funds from his or her estate. In short, it is the court process used to oversee the ?tying up? of any issues that need to be resolved after an individual?s death. The probate process is lengthy and very court-process intense. Our qualified Chicago probate lawyers can assist you with organizing this process including: handling all court appearances, probate filings, public notices, assigning an ?Executor? (successor trustee) and also litigating any claims against the estate from creditors or family members.
Assets NOT Subject to Probate
Jointly owned assets are not subject to probate. In Illinois, probate is only necessary if the deceased?s solely owned, nonexempt assets are worth $100,000 or more.
The following assets are not subject to the probate process. These assets instead pass directly to their named beneficiaries:
Assets held in trusts, such as revocable living trusts;
Assets with designated beneficiaries, such as payable-on-death bank accounts and retirement plans with named beneficiaries;
Jointly held assets; and
Real estate properties with transfer-on-death deeds
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The Real Estate After Death, What Dale Can Do For You! If you have recently lost a Parent or Loved-One, and now must go through the stressful and time consuming Illinois probate process, it?s time to call me at 708-439-0165 - dalelesleytaylor@peoplepc.com - http://usprobateservices.org/daletaylor