Legal Question in Wills and Trusts in Illinois

You need to contact. The corporate transfer agent who will let you know the requirements. It may require opening a probate estate.

Contact the company to inquire what they are requiring. Very likely, they will tell you that you need Letters of Office, Letters of Administration or another variation of that term. That would mean opening an estate with the court. Before doing so, however, it should be reviewed whether the collection of the asset is possible through a Small Estate Affidavit. Often, they assume that a probate estate will be required without telling you to consider the second option. Either way, a legal consultation is recommended. Much of this can be handled by telephone, fax and E-mail.

If the total of the stock and any other assets without a named beneficiary is under $100,000, you might be able to use a small estate affidavit after a review of the situation. If it's over $100,000 then probate court is necessary.