Legal Question in Wills and Trusts in Illinois
probate
Can a trustee of a family trust opt to probate the trust and estate? Are there advantages or penalties for doing this?
1 Answer from Attorneys
Re: probate
Whether or not property is subject to probate depends on its ownership at the time of death. It is either in the trust, or it is owned in the name of the deceased.
Sometimes people choose to probate an estate, even though it is less than the statutory amount of $100,000 because there are specific reasons for doing so: shortening the period of time for which claims may be filed, disputes between family members, unknown heirs, etc.
If you have specific questions about this, please have an estate planning attorney review your family's documents. Only a complete review can provide you with the answer that you are looking for.