Estates with a will usually go through the probate courts. This is to ensure the will is legally sound and the executor follows the wishes of the will. This can be a good thing. So, why does everyone want me to avoid probate? Probate is not necessarily bad, but it can be expensive, time-consuming and not always necessary.
As stated above, probate can be a long and expensive process. The average time it takes a will to pass through probate court in Illinois is 6-12 months. This means it could take up to a year before your beneficiaries receive the assets you want them to have. If someone disputes the will or has inconsistencies, the probate time can be delayed even longer. During this time, attorney and court costs take money from what you wanted to leave your loved ones.
The main reasons people choose to avoid probate are:
The probate process can be time-consuming and expensive. However, there are several options to avoid probate.
There are several reasons why people choose to avoid the probate process. Some of the main reasons are that probate is time-consuming, expensive and public record. There are options if you decide to build a plan to avoid probate and allow your assets to transfer to your loved ones quickly.
A trust is a legal contract that allows you to place your assets in trust. You can name yourself or another person as the trustee. When you pass away, a trust does not go through the probate courts; rather, the trustee will immediately distribute your assets according to the trust guidelines.
In Illinois, you can name your beneficiary on your real estate. With a Transfer on Death, your property will immediately transfer to your beneficiary without going through the probate courts. This is similar to naming a beneficiary on your life insurance plan.
If your name and another person’s name on your assets, when you die, the assets are already in their name, so there is no reason for probate court. Some people place their home in their name and their child’s name. Joint tenancy can be beneficial but also cause more harm than you realize, so please be careful with this choice.
Probate can take away the time and money you wish to leave your loved ones. An experienced probate attorney can help you decide how to build your estate plan based on your wishes and unique circumstances. Perhaps a will is the best option for you, or perhaps your loved ones would benefit from placing your assets in a trust. Only you can decide.
1. If I have a will, do I still need to go through probate?
Yes. In Illinois, having a will does not avoid probate – it simply provides instructions for how your estate should be handled. Your will must still be filed with the probate court and validated. If you want to avoid probate altogether, consider creating a revocable living trust or using other probate-avoidance tools like Transfer on Death instruments.
2. What is the difference between a will and a trust when it comes to probate?
A will must go through probate, which can be time-consuming, public, and expensive. A trust, on the other hand, allows your assets to be transferred privately and directly to your beneficiaries without court involvement. This helps your loved ones avoid delays, legal fees, and unnecessary stress.
3. Is it always a good idea to avoid probate?
Not always. Probate isn’t inherently bad – it can be useful for settling complex estates or when there’s a need for court oversight. However, most people choose to avoid probate because it saves time, reduces legal costs, and keeps their affairs private. A qualified estate planning attorney can help you decide what makes the most sense for your situation.
Do you have questions about how to avoid probate? Our experienced estate and probate attorneys can advise you on the best options to protect your assets and loved ones. CContact the Estate & Probate Legal Group at 630-864-5835 to talk to an attorney today.
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