Legal Question in Wills and Trusts in Illinois
My brother is executor, he has given alot of the money and personel property away before probate. I stand to lose 100,000 from this. what will the courts do about this.
1 Answer from Attorneys
You did not mention who died. I will presume, for this answer, that it was one of your parents.
When a person dies we divide their assets up into two piles. There are probate assets and non-probate assets.
If the item had a beneficiary associated with it or if there was a co-owner then these assets may be non-probate assets. In this case the ownership passes to the beneficiary or the co-owner without going through probate.
Assets held in a trust are non-probate assets also and will generally avoid probate.
If the assets, which you are worried about, were probate assets then you can ask the judge in probate court to slow the process down and for an accounting of the assets. This is called "supervised administration."
I hope this was helpful.