WHAT DO YOU NEED TO DO AFTER
A LOVED ONE DIES
Most people are not aware that when a person dies,
his or her will must be immediately filed with the probate court in
the county where he or she resided at the time of death. This is required
by Illinois law. It is then the responsibility of the person nominated
as executor to ask the court to probate the Will. If a person dies without
a will, the court will appoint an administrator who is nominated by
the decedent's family.
A Will need not be probated in every instance. In Illinois,
if the value of the estate is less than $50,000.00, a Small Estate Affidavit
may be sufficient to transfer property. If the value of the estate is
more than $50,000.00 the estate must be probated.
The Executor of the Will should make an appointment
with an attorney as soon as possible. The Executor should have the following
information: the social security number of the deceased, a death certificate,
the original Will, and a list of the assets and liabilities of the deceased,
which includes real estate, bank accounts, stocks and bonds, etc. If
the estate must be probated, a claim notice is published in the newspaper
to allow any creditors time to file a claim. The executor of the estate
must collect and inventory all assets of the estate, consider claims
filed by creditors, keep records of all transactions, assist in filing
decedent's final income tax return and any other tax returns that may
be necessary, prepare a final accounting, and distribute the estate
in accordance with the Will, or if none, to the heirs, as determined
by law.