07-Nov-2015 06:50

Invalidating a will in illinois

How is their property transferred to their loved ones? Probate is the process through which a court oversees the collection, liquidation, and distribution of the assets of a person who died (the “decedent”), as well as the payment of that person’s debts.

Probate is only required under certain circumstances.If a claim is rejected by the estate’s representative, the representative must notify the creditor, who then must litigate the issue in court.Once claims are resolved, the balance of the estate can be distributed. Are there any legal deadlines which can affect your rights or the rights of others? Kollias can answer these questions for you, and help you through what is certainly a difficult time.Most of the time, the probate process is straightforward. Often, a complicating factor arises where someone challenges the validity of a will or its provisions. We can help you determine what the best course of action to make sure that your loved one’s wishes are honored, and to fully protect your rights.The representative is responsible for taking account of what the decedent owned at the time of his or her death, what he or she owed, and how to distribute the remaining assets.In Illinois, after a person’s death, creditors have a limited amount of time during which to file claims against the person’s estate.

Claims filed after the specific time limits established in the Probate Act would be barred.

Once a claim is filed, the estate may pay it in full, settle it, or reject it.

In Illinois, if the total value of the decedent’s assets is less than $100,000, probate might not be necessary.

Moreover, probate is not required to transfer assets for which title does not pass by operation of law.

For example, property held in a trust, in joint ownership, or in certain accounts with designated beneficiaries may often be distributed according to the terms of the documents that identify the beneficiaries or the joint owners.

As part of the probate process, the probate judge will issue “Letters of Office” designating someone as the personal representative of the estate.

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