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Creating A Will | Dupage County Estate Plan Lawyer | Naperville

At Banahan & Haas, we are skilled at handling probate estates of all shapes and sizes. We offer a free initial consultation. Fortunately, Illinois courts have come up with different factors that go into determining whether or not a fee is reasonable. Naperville Attorneys at O'Flaherty Law. A trustee holds legal title to the funds in the trust. Every state has a disciplinary organization that monitors attorneys, their licenses, and consumer complaints. Contact our Indiana office to address probate and estate administration if you live in Porter County, Lake County, and LaPorte County in Indiana. Also, if no provisions are made otherwise in the will, the Executor must then seek to list and sell the real estate on the open market. As we learned above, the Executor of an estate in Illinois has the duty to collect and inventory all of the assets of the deceased person. The foundation of any estate plan is fortified by a will or a trust.

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Failure to perform the statutory duties of an executor, such as filing taxes on behalf of the estate. This includes your home, personal belongings, investment accounts, vehicles and more. Unfortunately, many estate owners don't consider all of these duties when choosing an executor. If extraordinary service was required, the executor can request additional compensation.

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Illinois takes a different approach. Many of these involve failures or breaches of duty on the part of the executor or the trustee. Supervised Administration. Naperville Estate Administration Lawyer Discusses the Duties of the Executor. You can also nominate a guardian for your minor children and their estates. Attorney Linda Bal is here to help you.

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Once the Will was transferred, we efficiently prepared, filed, and opened the estate in the proper county. We make it easy to learn more about your rights and options. In addition to your will, trusts can provide you with more options and flexibility for how your assets should be handled. Hiring an Attorney for an Executor. Will Preparation Services Attorneys. Probating an estate can be difficult work for the designated party. Let's take a closer look. Probate Lawyers Serving Kane and DuPage Counties. However, this requirement is rarely enforced in real practice. To take control of matters now and remove the uncertainty, call us. Best Naperville Probate & Estate Administration Lawyers & Law Firms - Illinois. Estate planning might not be your top priority when other life events have your attention. Our experience and knowledge can help you analyze your situation so that you can make the best possible decisions for your assets.

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Want to know how divorce will affect your will or trust? You Don't Have to Leave Your Home For Your Legal Consultation. When the estate has been opened and the Executor has been officially appointed, it is important for the Executor to immediately open an estate bank account to receive all liquid funds in the estate, and to pay the estate bills accordingly. Case Study: Poorly-drafted Will Complicates Estate for Executor. In addition, an executor should be somebody who can handle delicate family and interpersonal relationships. Trusts are legal arrangements in which one party, a "trustee, " holds property for the benefit of another--the "beneficiary. " Per 755 ILCS 5/4-13, property that is itemized in a last will and testament may generally be distributed according to the directions of the author of the will. From opening bank accounts, to distributing personal property, to selling real estate or stock, they need to keep a notebook or computer records of every transaction. Living wills are legal documents that provide advanced health care directives for your medical care should you become incapacitated and unable to make these decisions on your own. Without a Will the state will decide how your assets would be distributed in the event of death. Is an Executor compensated for his/her time handling estate matters? Professional executors of wills near me. The nine-month wait causes additional expenses if real estate is owned.

This can result in the executor being the target of family resentments and disagreements. • The Will must be in writing. The following is a list of links and information to various Chicago area county court clerk offices where the original last will must be filed if the decedent resided in one of these counties: In Kane County, original wills are filed at the clerk's office on the first floor of the Geneva Courthouse in downtown Geneva, located at 100 S. 3rd Street. Executor of a will naperville pa. In addition to helping create comprehensive estate plans, we can help ensure that a person's directives will be carried out correctly. Preparing final tax returns. An overview of probate court proceedings. How does an Executor make final distributions under the will? A lot of thought should go into it, so we will ask you questions in our initial consultation that you may not have considered otherwise. While it seems as though the process is generally straightforward, there can be unexpected roadblocks in the process. First, the named Executor must ensure that the Testator's (Will-maker's) original Last Will and Testament is filed with the local county court clerk in Illinois.

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