Legal Question in Wills and Trusts in Illinois

I'm sorry for your loss.

Depending on the value of the accounts and any other assets in his name, you will need to either open a probate estate or have a small estate affidavit prepared to have the accounts distributed to his beneficiaries. How his assets are divided will depend on whether he was married at the time of his death.

If you are interested in discussing the specifics of probate in Illinois and your late father's estate, feel free to contact me.

Manish C. Bhatia

773-991-8423

Without a will, your father's estate will be distributed according to the intestacy laws of the state of Illinois. If married, half to the surviving spouse, half to be shared by all the children. If no living spouse, all to be divided among the children, with a deceased child's share going to his or her children. As a practical matter, it's going to be helpful if you discuss what you are going to do with your mother, if living, and your brothers and sisters, if any. If all there is is a bank account, the bank will tell you if you can utilize a small estate affidavit and they may even have their own forms they want you to use. It's possible the bank account had a beneficiary designation, in which case the funds will be distributed to the named beneficiary. I'd start at the bank.

The answer provided by Manish Bhatia is excellent. Another consideration is claims or potential claims.

First thing to determine is the aggregate value of your father's bank accounts. If they are over $100,000 in value then someone will need to petition the probate court to be named administrator of his estate. If under $100,000, then you might be able to use a small estate affidavit, depending on other factors, including possible claims against the estate and the identity of his legal heirs. In either case, the beneficiaries of the estate are your father's legal heirs -- (1) spouse, if any; (2) living children; and (3) descendants of deceased children, if any.