When asked to be an executor of an estate, you knew it could become a complex process. But now that it’s happening, you may realize there is more than you initially thought. New terms are being said, such as affidavit, heirs, beneficiaries, probate and letter of office. If you are not aware of all the steps of probate, you may want to consult an attorney. But one of the first steps you will be responsible for is obtaining a Letter of Office.
A Letter of Office is a legal document granted by a judge that proves you have the authority to act on behalf of the estate. This document informs third parties such as banks, creditors and all others of your position. However, several steps must be taken before the judge grants you the Letter of Office.
If someone recently passed away and named you the executor of their will, there are several steps to take before you can distribute the assets to the beneficiaries. You’ll want several copies of the death certificate. You need several copies because each financial institution, investment authority and others will request one. It’s easier to ask for several copies now than to try to get more later. It is common for the funeral director to help you with this step.
Once ready, you must present yourself as the executor to the courts. At this time, you will have several items ready for the judge:
You must file the will with the county where the person died or where they have property. The court will most likely ask you to present the legally binding will with the person’s signature. This means not a copy and not a will that was written on. Many counties will keep the original and allow you a ‘certified copy’ of the will at a price – or you can make copies before you give it to the court.
Did you know… If someone has a home in Illinois and a vacation home in Florida, then you must go through the probate process in both states?
Once you have filed the will, you will then file a Petition for Probate of Will with the county clerk’s office. This will grant you Letter of Office (also called Letters of Administration) to open a probate estate. You will be asked to provide the following, which will be included in the Letter of Office:
Once you have the Letter of Office, your job as the executor is about to begin. This can be a complex process, so please make sure you are organized and ready. The average estate may take 6-12 months to complete or longer if it is complex.
Now that you have the Letter of Office, you can begin the duties of the executor by:
While this is not a requirement, it is wise to have a probate attorney close by who can help you with any or all steps of the probate process. You may only need them for certain questions, but knowing you have someone to help you is nice.
Hopefully, the deceased person discussed their final wishes with you. They may also have told you where they keep all important documents, such as their estate plan, all financial institutions, debts owed and more.
You or your probate attorney will go to court to open probate and obtain a Letter of Office.
Now that you are officially the executor of the person’s estate, you want to notify all beneficiaries and heirs. You must do this no later than 14 days after your appointment. If you do not have a home address, you must publish your appointment in the local newspaper where the person resided for 3 weeks. The courts consider this a legal way of giving notice to those who cannot find a home address. Read here for other ways to find missing heirs.
It is common for children to think they can enter their deceased parents’ home and take what they want. But if the person gave instructions on how they want their assets distributed after their death, it is up to you to secure these assets and distribute them according to the deceased’s final wishes.
Before you distribute the assets, you must pay all final debts. A probate attorney can help you know which debts the estate must pay and which are not required. You must give notice to all creditors and wait for their final bill.
You must follow the person’s final wishes and distribute assets according to the will. It is not your place to assume what the person meant or wanted. If there is a discrepancy in the will, your probate attorney can help settle the dispute.
Once you have paid all final debts and distributed the assets, you must file a notice with the courts to close the estate.
Before you can begin your duties as an executor, you must first obtain the Letter of Office. If you are unable or unsure how to do any of the steps required, an experienced probate attorney can help. They can appear in court on your behalf, answer any questions, and help settle any disputes you may encounter. Being an executor of an estate is not an easy job, and it is good to have someone on your side.
A probate attorney can help you as little or as much as you want – it is entirely up to you.
If you are an executor or administrator of a will, we can help. Consulting an experienced probate attorney can give you peace of mind. Contact the Estate & Probate Legal Group at 630-864-5835.
AREAS WE SERVE: Cook, DuPage, Kane, Lake, Kendall and Will counties