Estate Planning & Probate FAQ

Straight answers about wills, trusts, powers of attorney and probate for Will County families.

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FAQ

Estate Planning & Probate Questions

Wills, trusts, powers of attorney, guardians and Will County probate, answered plainly.

  • Most adults need a will, because it names who gets your property and who raises your minor children. A trust adds control over how and when money is paid out, and it can keep assets out of probate. Whether you need one depends on your property and family, so see will versus trust.

  • Illinois law decides who inherits (755 ILCS 5/2-1). With a spouse and children, half goes to the spouse and half to the children. With a spouse and no children, the spouse takes all. See dying without a will.

  • A full plan usually has a will, a power of attorney for property, a power of attorney for health care and a living will. Parents add a guardian choice, and some people add a trust. Beneficiary forms on accounts are checked against all of it. Start with the estate planning checklist.

  • The cost depends on your family, what you own, how many documents you need and whether a trust is involved. Jeff explains it on the first call after he hears your situation. The estate planning cost page lists what moves the cost.

  • A trust takes more drafting than a will, and the work of retitling a home or accounts into it also affects the cost. Jeff explains how it applies to you on the first call. Compare the options on the revocable living trust page.

  • Illinois does not stop you. A will must be in writing, signed, and attested by 2 or more credible witnesses in your presence (755 ILCS 5/4-3), and mistakes in drafting can leave gaps. See wills for what to check.

  • Illinois publishes a statutory short form for property, and it calls for a notarized acknowledgment (755 ILCS 45/3-3). A lawyer helps you choose the powers, the agent and a backup, and makes sure the papers fit the rest of your plan. See power of attorney for property.

  • A parent can name a guardian in any writing, including a will. The writing must be witnessed by 2 or more adults, and the person named cannot be one of the witnesses (755 ILCS 5/11-5). Read more on guardian for minor children.

  • Yes. A divorce revokes gifts to a former spouse and the nomination of that person as executor in a will signed before the divorce (755 ILCS 5/4-7(b)). It does not change beneficiary forms on retirement accounts. Life insurance has its own rule with exceptions (750 ILCS 5/503(b-5)), so check every form. See estate planning after divorce.

  • It is a recorded deed form that names who gets your real estate when you die, without a probate case for that property. It must be signed, witnessed by 2 or more people, notarized and recorded before your death (755 ILCS 27/40 and 27/45). See the transfer on death instrument page.

  • Yes. Illinois has its own estate tax, with an exclusion amount of $4,000,000 for people who die on or after January 1, 2013 (35 ILCS 405/2). Whether it applies depends on your total estate. Read the Illinois estate tax page.

  • It depends on how your property is titled. Accounts with a beneficiary, jointly held property and trust assets can pass without it, but real estate in one person's name usually needs it. A small estate affidavit may be enough for smaller estates (see below). Start with avoiding probate.

  • It is a sworn form that lets a bank or other holder release a decedent's personal property without a court case. It can be used when no letters of office are outstanding and the personal property, not counting registered vehicles, does not exceed $150,000 (755 ILCS 5/25-1). See the small estate affidavit page.

  • There is no fixed length. By statute, the claims date in the creditor notice must be at least 6 months after the first publication (755 ILCS 5/18-3), so a case that publishes notice runs at least that long. Beyond that, it depends on the estate, the heirs and whether anyone objects. See how long probate takes.

  • Cost depends on the size and makeup of the estate, whether real estate must be sold, how many heirs there are and whether anyone disagrees. Court costs and the notice to creditors are part of it. Jeff explains how it applies to your estate on the first call. See the probate cost page.

  • An executor must open the case or decline within 30 days of learning they were named (755 ILCS 5/6-3). After letters are issued, the executor files an inventory within 60 days (755 ILCS 5/14-1), gives notice to creditors, pays valid claims and distributes what is left. See executor duties.

  • An interested person can file a petition to contest within 6 months after the will is admitted to probate (755 ILCS 5/8-1). The deadline is short, so call soon. See contesting a will.

  • Probate goes to the county where the person lived (755 ILCS 5/5-1). For a Will County resident, that is the Circuit Clerk of Will County at the Will County Court House, 100 W. Jefferson Street, Joliet. The Will County probate process page lists the steps.

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