Skillful Guidance Through The Probate Process
People are often confused about how probate works. That is no surprise, because probate is a very formal, procedurally rigid process. Probate is the legal process in which a will is proven and the estate administered. Because there are many rules in place to protect heirs, beneficiaries and creditors, probate takes many months.
If you would like to avoid probate, the Darien probate attorneys at Michael Overmann, Ltd., can help you set up estate planning products to minimize the time and expense. We can also assist Illinois clients who are dealing with the settlement of a loved one’s estate or going through a will contest. For a free consultation, please call 630-395-7948 in DuPage County, 708-590-4599 in Will County or contact us online.
Why Is Probate So Expensive And Time-Consuming?
After the death of the will’s testator, the executor must file the will in probate court and hire an attorney. The attorney has to set a court date to appear before the judge. On that date, the lawyer must file court documents to establish heirship and obtain the court appointment of the executor.
Once the executor is appointed and letters of office are issued, the estate is open. The attorney then must run a newspaper ad to all potential creditors and unknown heirs.
Six months after the ad’s publication, the executor may distribute assets. However, in order to close the estate, the attorney and executor must obtain signed receipts from all beneficiaries, resolve all claims or objections, prepare a final accounting and file a final report with the court. Then they appear in court to close the estate and discharge the executor.
Many people seek to avoid probate because of the delay, expense and because all proceedings (assets, expenses, names, addresses and will terms) are public record. This gives anyone access to your personal information.