Being named a beneficiary in a will can bring up emotions and questions. But you are not alone. Many people do not understand the entire probate process. You may have questions regarding the executor’s responsibilities and how long it will take to receive your assets. In this article, we will tell you some of what beneficiaries going through probate should know.
When a will goes through probate, it means it’s the process of the courts reviewing and validating the will before distributing the assets. But not all estates must go through the courts and the probate process. For instance, if an estate has assets totaling less than $100,000 and that has no real estate, the courts may not need to be involved.
Most wills name an executor. This is someone who will close the estate and oversee the distribution of assets. Closing the estate includes paying all debts and closing the accounts, filing and paying final taxes and notifying all beneficiaries of their inheritance.
You may have several questions if you have never been through the probate process. Some questions our clients have asked are:
If the executor is working with a probate attorney, as a beneficiary, you may also be able to speak with the attorney.
In Illinois the law holds that only an attorney can represent the estate of a deceased person. The probate attorney can help the executor with the legal process of probate. The attorney helps them prepare the legal documents to close the estate, answer any questions during the process and help settle any disputes that may arise. Anytime you are dealing with the courts and a legal process, it is wise to have an experienced probate attorney on your side.
If you are a beneficiary of a will wondering about the probate process, we can help. To talk to a qualified attorney in Chicago or Oak Brook, contact the Estate & Probate Legal Group at 630-864-5835.
Areas we serve: Cook, DuPage, Kane, Lake and Will counties.