Legal Question in Wills and Trusts in Illinois
my father left his home to me in the will. I am told now that the home is part of the estate and I am responsible for his debt including the funeral expenses. I am told that his mutual funds are not part of his estate since they were assisgned beneficiaries.
2 Answers from Attorneys
I would have to read the will in order to advise you. I see you are from Jacksonville, near Springfield. If you want I can refer you to someone in your area. You can reach me on my website: www.legacylaws.com.
My condolences on the loss of your father. Generally, it is the estate itself which is the party obligated to make payments for a deceased person's debts, including the last illness and funeral expenses. It is the legal duty of the executor named in the will (and/or appointed by the court) to determine how the estate will be administered, and how the bills will be paid. If you are the executor, you should talk to an attorney in the county in which your father resided on the date of his death. If you are not the executor, you should encourage the named executor to contact an attorney as soon as possible.
Related Questions & Answers
-
Can the executor sell teal estate without agreement from heirs Asked 11/05/11, 12:17 pm in United States Illinois Probate, Trusts, Wills & Estates