My step brother passed away in November. He had a life insurance policy and 401K that he did not designate any beneficiaries for either policy. My brother's employer and insurance company advised my father that he would be the beneficiary since m...
The terms of the contract with the life insurance company and 401(k) administrator controls. Some agreements and policies provide for a default beneficiary if none is designated. Others provide that the decedent's estate is the default beneficiary. From your comments, it sounds as if the administrator is saying that the father is the default beneficiary, rather than the estate. If that is indeed the case, then that controls. A careful review of the policy and contract is needed. Hiring counsel would be a wise choice.
If there are estate assets (not payable by contract to a beneficiary - designated or default), then those assets pass by will, or if no will, then by Illinois intestacy law. If no spouse or descendants, IL intestacy law provides for the estate to be divided among parents, siblings, and descendants of deceased siblings. But again, this does not apply to assets that pass directly by contract.See question
my father passed. he had four children who live in the chicago area. he was married and they resided in paducah, kentucky. she hasnt said anything about a will or life insurance policy and hasnt shown us any papers. some years ago he received so...
If your father last lived in Kentucky, you need to contact a probate attorney in the county in Kentucky where he lived. His estate would be administered in Kentucky where he lived, not where you live.
Redirect the question to Kentucky practitioners, or better yet, contact a probate attorney there directly.See question
my brother is not following the will and wont let me get what im supppose to get the lawyer that my brother hired said im suppose to get what was left to me and my brother wont let me get my stuff what do i do?
Every probate case has a judge assigned to it. If the executor is not carrying out his duties properly, then tell it to the Judge. For best results, hire an attorney to make your case.See question
I understand the law requires Trustees of irrevocable trusts to follow the statutory notice and accounting requirements to inform any current beneficiaries of the existence and details of the trust. However, are there any options to limit these re...
Theoretically you can draft whatever provisions you'd like in your trust, but I don't think it's entirely clear how a court interpreting current Illinois law would handle provisions that purport to eliminate a trustee's duty to account to beneficiaries. There are other states that specifically do allow silent trusts by statute.
You might also consider that your trustee might not be comfortable in such an unclear type of situation. If nobody is signing off on the trustee's accounting, the could have legitimate liability concerns.
There also may be other ways of addressing beneficiary motivation, perhaps allowing for withholding distributions for longer if the beneficiary is not ready at a certain age(s).
You should discuss all of this and work directly with an estate planning attorney to best accomplish your goals.See question
My father passed away 18 months ago( June of 2015) and his second wife is the executor of the will, that was filed after he passed. She refuses to speak to me concerning it. I am name in the will and don't question the amount or validity. It is al...
By itself, filing the will does not give anyone powers as executor. If it's not in probate, then there is no acting executor.
The next thing to understand is that the will only controls assets in your father's sole name. For example, if all of his assets were held jointly with his second wife, then there is nothing to pass under the will to anyone. So it may be that the will is not in probate because there are no assets to probate.
In addition, if the estate is small -- less than $100,000 -- then she could have utilized a small estate affidavit to transfer assets.
There is no statute of limitations on probating a will. Even though she may be designated executor, you could still file a petition to probate the will and give her notice of the filing..
You should consult directly with an attorney to determine your best course of action based on all of the facts.See question
My sister is Executor of my Mom's Estate, she and I are equal beneficiaries. She is really "sticking it to me". I have many questions to the lawfulness of her actions.. and am looking for answers, and specific "documentation" eg: Il. Legislation...
All assets in your mother's sole name that pass via the terms of the will are part of the probate estate.
Whether there should be interim distributions from the estate prior to closing the estate is based on the particular facts and circumstances. If the estate is under independent administration, then 755 ILCS 5/28-10(a) permits interim distributions when appropriate. If you want your sister to take a particular appropriate action that she won't agree to, then you or your attorney can file a petition with the probate court.
If your sister has distributed out her share of the estate but not yours, then you should definitely retain an attorney to remedy the situation.See question
How is it determined what an executor is to be paid for being an executor? Is it hourly or percent of estate? How is it figured what to pay an executor?
An executor is entitled to a reasonable fee. Of course this will vary based on the circumstances, but typically it is based on a reasonable hourly rate rather than a percentage.
Usually the executor will propose a fee as part of a final accounting. If a beneficiary objects, then the court will decide. The court will want to see an itemized time log.See question
I am one of four beneficiaries ( one of these is Executor/Trustee Pour over Will to Trust) Case is very corrupt. Executor was ordered not to remove assets out of IL He did and even sold these assets in his late mother's house estate sale.( ...
A beneficiary doesn't necessarily have to sign off if the beneficiary was given adequate notice of hearing pertaining to the closing of the estate.
If you had notice, you should have filed proper objections with the court. If you did so and your objections were rejected, then you'd have 30 days to appeal a final order.
Additionally, the probate judge's order would have applied only to probate assets, not to trust assets.
If a special administrator was appropriate, there must be reasons other than those you've stated.See question
I did not know my father had a Will. I was Executor. His atty was to have ctcted me when my father became incapacitated. This was stated in his Will. His atty did not do this. I found the Will 4/2011. 10 yrs after my father died 1/2001. Called ...
How was his estate administered back in 2001? Was it administered under a different will or was it intestate (no will)? Who served as representative? These are critical facts and ll of this should be public record in the county where he lived, unless he had either no estate or an estate small enough to administer without probate.
If you have now found a more recent apparent original will that was not originally probated, you can and should file the will with the court. While you might be able to have that will admitted to probate, trying to re-administer the estate now may prove extremely difficult or impossible.
If you want to seriously address the matter, you should present all of the facts directly to a probate attorney to evaluate.See question
I received a petition for probate of will and for letters oof testmentary-assigning and executor to an estate over $137,000. This money was outside of the will/trust I signed to have this person be "independent" executor over 2 months ago. Is it p...
If the executor who was appointed was designated as first executor in the will, then your signature was unnecessary for him to be appointed. If the executor has already been appointed by the court, then in order for the court to remove him, you would have to file a citation for removal and prove sufficient statutory basis and cause for removal.
Alternatively, you can ask the court for administration to be converted from independent to supervised. If the will directs independent administration, then you would need to show good cause to convert. If the will does not direct independent administration, then a showing of good cause is not required.
Additionally, your question is confusing in terms of the value of the estate ($137,000 vs. $1.5 M) and who takes under the will.
You might benefit from consulting directly with a probate attorney who can gather all of the relevant facts and help you determine your best course of action.See question