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RECENT ESTATE PROBATE AND TRUST ADMINISTRATION LEGAL ARTICLE

  • Lawsuit-Against-Executor

    Who can file a claim against an Executor?

    An executor is the person that administers a person’s estate. The executor is named in a will, and often appointed by a probate court. An estate includes all of the assets and debts that a person had at the time of their death. Assets that have a joint owner, or that name a beneficiary upon…

  • probate-costs

    Probate: What is the Cost?

    After a person dies, a probate estate may need to be opened to transfer property. To learn more about the probate process, please see our article “What Is Probate?” This article will focus on the costs associated with opening a probate estate, transferring property, and closing a probate estate. All of the costs identified in…

  • filing-will-illinois

    Do I need to file a will in Illinois?

    Filing a Will in Illinois When a loved one dies, the family and friends who are left behind are often confused about their next steps. Amidst their grief, survivors must navigate unknown territory. At Hays Firm, many of our clients are working through an emotional grieving process and handling an Estate or Trust for the…

  • responsibilities-executor-will

    What are the responsibilities of an executor of a will?

    The Responsibilities of an Executor of a Will In a will, an individual identifies an executor to represent his or her estate. The executor is either a person or corporate entity (such as a bank or trust company) that ensures that all the deceased’s assets are collected, debts are paid, and the remainder of the…

  • small business attorney chicago

    What does “probate” mean in Illinois?

    What does “probate” mean in Illinois? The probate process in Illinois is the process in which a person’s assets are distributed after they die. The probate process in Illinois may also be related to a person who has become permanently disabled and needs a guardian. The probate court will monitor the disabled person’s health and…

  • fraudulent-transfer-illinois

    When is a transfer presumed to be fraudulent?

    Illinois Fraudulent Transfer Act – When the Law Presumes Fraud The Illinois Fraudulent Transfer Act refers to transfers of money or property in order to avoid paying a creditor or a potential creditor. The Fraudulent Transfer Act is also called the “Voidable Transfer Act” because the transaction may be “voided” or reversed by a court….

  • probate-claims-illinois

    What is a claim against an Illinois probate estate?

    Claims against a Probate Estate in Illinois After a loved one dies, their surviving friends and family are left to manage any debt that the deceased individual left behind. Once a probate estate is opened, it is the job of the representative of the estate to resolve any claims seeking a payment from the estate….

  • file-claim-against-probate-estate-illinois

    How do I file a claim against a probate estate in Illinois?

    How do I file a claim against a probate estate in Illinois? In any probate estate, the representative of the estate (either the administrator of the executor depending on whether there is a will) is charged with the task of collecting all of the assets of the estate, paying all of the debts of the…

  • no contest provision enforceable

    Is a “no contest” provision in a will enforceable?

    Is a “no contest” provision in a will enforceable in Illinois? A no contest, or in terrorem clause, is a provision in a will or trust which is designed to threaten anyone from challenging the validity of the document. These types of provisions generally provide that in the event that someone challenges the validity will…

  • durable-power-attorney

    Is a trustee required to give an accounting to the trust beneficiaries

    Is a trustee required to give an accounting to the trust beneficiaries? When someone dies and leaves their assets in a trust, it is the responsibility of the successor trustee to follow the terms of the trust. The law imposes many restrictions and requirements upon the trustee. The result is that the trustee owes a…