Hays Firm LLC works with executors, trustees, and personal representatives to assist them as they distribute the assets of a deceased friend or loved one and formally close the estate or trust. These legal services typically involve administering an estate in the probate court. Yet, our firm’s involvement can be as much or as little as the representative desires.
Under Illinois law, the executor or the personal representative of an estate has the following responsibilities:
- Gathering documents
- Filing the decedent's will, if one exists
- Notifying heirs and beneficiaries
- Obtaining a valuation of the decedent's property and assets
- Paying the decedent's debts
- Preparing federal and state estate tax returns, if necessary
- Distributing assets to heirs and beneficiaries
Hays Firm LLC counsels and advises executors and trustees on the most tax-efficient means of administering probate and non-probate estates and trusts. We work to ensure that the greatest amount of wealth possible passes to the next generation.
If you or a loved one has been named as an executor or trustee, and have questions regarding your obligations and duties, please contact the attorneys at Hays Firm LLC to discuss how we can help. You may contact the firm at (312) 626-2537 or via e-mail.