Legal Question in Wills and Trusts in Illinois

My father has not much longer to live. He has annuities with designated beneficiaries and a bank account with him being tjhe only member. He lives in Illinois. Does the estate need to go thru probate?


Asked on 10/30/17, 4:07 pm

1 Answer from Attorneys

Henry Repay Law Offices of Henry Repay

I am sorry for your expected loss. While an attorney would want to examine the circumstances in more detail, assuming the bank balance is minimal, that there are limited liabilities and that there is not any real estate, a Small Estate Affidavit should be sufficient. The limit for the personal estate for a "small estate" in Illinois is $100,000.00. The annuities would not be considered part of the estate to the extent they pass directly to the beneficiaries. That paperwork should be promptly reviewed as well to be sure that all goes according to your father's plan. It there is any real estate, then it is more likely that probate will be advised, but not always. Has provision been made for funeral and burial expenses?

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Answered on 10/31/17, 7:15 am


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