Typically, estate planning involves a variety of inter-related goals that go beyond just planning for the disposition of estate assets after your death. One of the most popular of those goals is probate avoidance. While there are numerous tools and strategies that can be used to help your estate avoid probate, a good starting point is to learn which assets actually have to go through probate. With that in mind, a Waukegan probate attorney at Hedeker Law, Ltd. explains which assets are subject to probate and which assets bypass the probate process. What Is Probate and What Function Does It [Read more…]
Are You Probating an Estate? If So, Don’t Make These Mistakes
When a family member or loved one passes away it can be extremely difficult to concentrate on anything for some time afterward. If, however, you find yourself in charge of the estate of a recently deceased loved one, it is important that you focus on the job you have been entrusted to do. To help you avoid making any costly mistakes, the Lincolnshire probate planning attorneys at Hedeker Law, Ltd. discuss some of the most common probate mistakes. Probate Mistakes to Avoid If the decedent left behind a Last Will and Testament, the individual named as the Executor in that [Read more…]
Avoiding Probate in Illinois
When you create your estate plan, you will likely have several inter-related estate planning goals in mind. By far, one of the most common of those goals is avoiding probate. Fortunately, careful estate planning on your part can result in your estate avoiding probate when the time comes to administer your estate. Why Is Avoiding Probate Desirable? The assets you won at the time of your death make up your estate. Unless you make plans to avoid it, your estate will be required to go through the legal process known as “probate” following your death. Although the probate process is [Read more…]
Lincolnshire Probate Court Basics
Although you may wish it were otherwise, there is a very good chance that you will be directly involved with the probate court at some point during your life. Even if you manage to avoid any direct involvement with probate court while you are alive, you should still have a basic understanding of the court because it will help you when you are creating your own estate plan. If you are a resident of Lincolnshire, Illinois, you will likely find the following Lincolnshire probate court basics to be a valuable resource. What Type of Matter Does the Lincolnshire Probate Court [Read more…]
Do All Estates Need to Be Probated in Illinois?
The average person knows very little about the probate process and has likely never even needed to go to court for any type of legal matter. When a family member or close loved one passed away then, the prospect of probating the estate can sound overwhelming. Moreover, what most people have heard about probate is likely not flattering given what a cumbersome and time-consuming process probate can be. If you find yourself facing the potential need to probate an estate, you may wonder if all estates need to be probated in Illinois. What Is Probate and Why Would You Want [Read more…]
10 Most Common Probate Mistakes
When a loved one passes away, most people experience a period of deep emotions during which they do not want to be bothered with the practical legal ramifications of their loved one’s death. If you were named as the Executor of the estate of a recently departed loved one, however, you must deal with those practical and legal issues as part of your job as the Executor. Keep in mind that the decedent had a considerable amount of faith in your ability to keep a level head and do a good job administering his/her estate. To help you, the Waukegan [Read more…]
Can My Mother’s Estate Avoid Formal Probate?
If your mother recently passed away, you are likely feeling overwhelmed with the emotional and practical aftermath of her passing. If you were named as the Executor of her Last Will and Testament, or you are the most likely person to handle the administration of her estate in the absence of a Will, you will undoubtedly want to avoid formal probate if possible. The only way to know with certainty that your mother’s estate can avoid formal probate is to consult with an experienced probate attorney. In the meantime, however, you may wish to learn more about ways in which [Read more…]
When Is Probate Not Necessary in Illinois?
If you recently lost a family member, you are undoubtedly going through a period of grief as a result of your loss. Along with the emotional impact your loved one’s death will have on you, you may also be faced with handling the legal ramifications of the decedent’s death. If you were appointed by the decedent to be the Executor of his/her Last Will and Testament, or the family is looking to you to take charge in the absence of a Will, it will be up to you to handle the legalities involved in distributing the decedent’s estate. Typically, that [Read more…]
Why Should I Try to Avoid Probate?
When it comes to estate planning, it often seems as though everyone you know has a well-meaning piece of advice. One of the most common suggestions you will likely hear is the importance of including probate avoidance as a primary goal within your estate plan. Before you can decide whether to heed that advice, however, you need to understand exactly why avoiding probate is so desirable. To help you better evaluate the need to include probate avoidance in your estate plan, an Illinois estate planning attorney at Hedeker Law, Ltd. explains the probate process and how your loved ones benefit [Read more…]
When Is Probate Not Necessary?
If you recently lost a family member or loved one, you are undoubtedly going through a tremendously emotional time period. If you are also in charge of administering the decedent’s estate, either because you were appointed in a Will or because you volunteered, you also have an important job ahead of you. One of your first responsibilities as part of that job is to determine if probate is necessary or not. What Is Probate and Why Is It Required? Over the course of a lifetime, almost everyone acquires assets that comprise their estate at the time of their death. Some [Read more…]