Legal Question in Wills and Trusts in Illinois
My sister and I are executor of our dad's estate and our mothers. Dad passed on Jan 2011. Everything is left to his spouse/our mother who is still living. We are also executors of her estate. Do we get paid for handling the will/being executors? No attorney was hired as we saw that all papers were in order before dad passed. Cash assets approx $350,000. Real estate (principal residence)$180,000. My mother still lives in the principal residence.I have adult brothers. Our mother has dementia (final stages) and requires 24/7 care. We hired a full time caretaker for her. There is still
a lot that we do to help with our mother. We handle all paperwork before the death and after death. We handle all banking, bills and so on. We are also Medical and Financial Power of attorneys for both parents..
1 Answer from Attorneys
I strongly recommend that you discuss all of this in greater detail with an attorney. Since many couples hold assets in joint tenancy, you may not need to become involved in a Probate Court proceeding for your father. You are allowed reasonable compensation for your work, but this must be handled carefully and be sensitive to certain family dynamics. Additionally, you should talk to a lawyer about recent changes in the law regarding Powers of Attorney and your responsibility to account for your actions.
I routinely provide free consultations for people in your circumstance. It's possible that you might not need an attorney, but would simply benefit from a comprehensive conversation about all of this. I'd be happy to meet with you to discuss all of this at no charge. If you decide that you'd like to work with me further, I feel confident that you'd find my rates to be reasonable.