With the new year comes new Illinois laws in the estate probate law field. We know that it is hard for the average individual to stay up to date on these changes. But don’t worry; we understand the new Illinois probate law changes for 2024 and how they will affect you. Below, we will talk quickly about some of the changes.
Estate planning includes making provisions to care for yourself when you no longer can, it also includes how to distribute your assets when you’re gone. Probate is the legal process of overseeing your will and assigning your assets to the correct beneficiaries. Therefore, when Illinois passes a law concerning estate planning, it also affects the probate process.
For instance, your will may state who you want to receive your assets and you forgot to update it and include a child. The youngest child may contest the will and insist on being included. This shows how estate planning and probate laws must work together.
Many changes concerning probate law will take effect this year, and we are up to date and informed on all of them. But here is an example of a few of the new probate laws in 2024:
E-sign Act – This act covers electronic records and signatures for creating trusts and wills. But in 2024, it is updated to mandate the use of electronic signatures on all estate planning documents, including Power of Attorney. This update will streamline the process while maintaining strong security procedures with remote estate planning.
Attorney Act – An update to the Attorney Act extends the time when a client can pursue legal action of malpractice against an estate planning attorney from 2 years to 6 years. It also provides enhanced protection for lawyers by mandating stricter security procedures.
Adult Guardianship Statute – This year brings many changes to the appointment and responsibilities of guardians for disabled or incapacitated adults. It also includes changes in the responsibilities of state agencies and the court’s discretion in assigning fees.
Illinois Power of Attorney Act – Changes to this act allow the individual 30 days to reconsider their decision of Power of Attorney designation. This gives them more time and flexibility to consult with family, doctors, and attorneys.
Reinforcing laws to protect the elderly – Several laws will be put into place to prevent the financial abuse of the elderly, thus protecting those who need it the most.
And more changes and updates will go into place that may affect you. You can see why having an experienced probate attorney on your side is important. A probate attorney can help protect you and what is rightly yours.
Learn More: Illinois Estate Planning Law Changes For 2024
If you need to understand the Illinois probate law changes for 2024, we can help. We are here to explain how these changes may affect you. Contact the Estate & Probate Legal Group at 630-864-5835.
AREAS WE SERVE: Cook, DuPage, Kane, Lake and Will counties