Legal Question in Wills and Trusts in Illinois
Are my brother and I responcible for my dead fathers property?
My father died, he lived in a 1 room dorm and had nothing but his clothes, an old TV, but he bought a new harley and miata just months before having a heart attach. We paid off both (totaling $31K) with the money we got. My brother and I got his pension, which was $90K, his sick time payout $31K, his life insurance $65K, and his bank accounts, about $3K... which of these should be listed on the small estate affidavit and which ones are not considered when figuring what his estate has left in it??
1 Answer from Attorneys
Re: Are my brother and I responcible for my dead fathers property?
The small estate affidavit covers assets that were owned by your father on the date of his death.
According to your posting, this would include the Harley and the Miata, his personal possessions, his sick pay, and his bank account.
It would not include the pension or the life insurance since these assets would have named a beneficiary. HOWEVER, if they did not list a beneficiary and they defaulted to your father's estate, then they would be assets under the small estate affidavit. If you already received this money, then I'm rather sure this was not the case.
Let me know if I can assist.
This answer provides no legal advice and is based solely on the information contained in the hypothetical posting. It is possible that my answer would change if allowed to review the documentation.
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