Probate Guide in Illinois
General overview of the Probate Process in Cook County Illinois
What is Probate?After a loved one passes, family members are left to settle the deceased person's affairs. This may include paying bills and distributing property. In many circumstances, it is necessary to open an estate in court to settle these affairs.
Is Probate Necessary?Whether a probate estate needs to be opened in court depends on a variety of factors. In general, if the decedent (the person who died) owned assets greater than $100,000.00 at the time of death, a probate estate will need to be opened. Also, if the decedent owned real property at the time of death, a probate estate will likely need to be opened.
Should I try to Avoid Probate?Many people think that probate should be avoided at all costs. However, probating an estate has many advantages. Yet, if you are concerned about the time and costs that your loved ones may incur in court after you pass, seek the advice of an estate planning attorney. An attorney can help you set up your Estate with this goal in mind.
Does life insurance have to go through the Probate Court?Generally, no. As long as you have beneficiaries named on your policies, the proceeds from life insurance will pass outside of Probate.