Legal Question in Wills and Trusts in Illinois

estate bills

If you inherit money from a parent who passed away & did'nt have a will so a lawyer was hired as executor of his estate to distribute money to his 3 children that he recieved from a injury at work, what happens if one of the children passes away & still has 30,000 in a personal checking account? Who has contol of that persons checking acct. as far as paying any debts they owe and such? And also the money that was put in a estate acct. by the lawyers right off the top of all 3 of the kids money without their knowledge and when asked why this was done we were told because the IRS has 6 years to come back if for any reason they don't like the tax returns that we filed this year and paid what we owed. And this money was put in this acct. by the lawyer and he is the only one that can get any info on this acct. although it is our money, and we can't touch it for 6 years. Thank-you for any advice you might have on this situation. Have a great day


Asked on 4/14/05, 6:50 pm

1 Answer from Attorneys
Cyndi Perez Trostin

Re: estate bills

There are a lot of questions in your posting.

First of all, when someone passes away with no will and there is money in their checking account, that person's administrator (appointed by the court), or a person acting under a small estate affidavit will distribute the remaining funds to the beneficiaries after the debts of the estate have been paid.

It also depends on whether the person had any other person on the account with him/her. E.g., an account that is titled in joint tenancy with rights of survivorship would pass diretly to the remaining person named on the account.

As for the 6 year wait to obtain your funds, the IRS has forms that can be filed that, if accepted, will get you a final determination on final tax returns in 18 months. Check with the attorney to see if he has done this. Most times an estate will distribute the majority of the funds prior to a determination letter if the beneficiaries sign a release acknowledging that they may have to repay some funds if an unexpected debt of the estate, or an IRS assessment should arise.

If you believe your rights have been compromised, you should have an attorney review the situation on your own behalf (one that is separate from the person representing the estate's interests). The interests of the estate and the interests of the beneficiaries can be different.

Please be advised that the answers above are based on a facts that you have given in your posting. There may very well be additional information that should be considered that would change my responses. Therefore, it should not be relied upon as specific legal advice.

Good luck to you.

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Answered on 4/17/05, 1:29 pm


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