What Is Probate?
Probate is the process of proving the validity of a will or trust after a person dies. The purpose is to make it clear who inherits the deceased’s assets and to make sure that all taxes and debts have been paid before the assets are distributed according to the will and/or trust.
The executor of the estate must:
- prove in court that the deceased person’s will is valid
- identify and inventory the deceased person’s assets
- have the assets appraised
- pay any outstanding debts and taxes, and
- distribute the remaining property as the will/state law
If you have questions about estate planning to avoid probate once you pass, consult with an experienced Probate Litigation Lawyer. The attorneys at Leon J. Teichner & Associates, P.C. will guide you through the steps to protect your assets. If you are located in the area of Chicago, IL, call (312) 900-9818 for a consultation.
Is Probate Always Necessary?
Going through probate court is not always necessary. Whether an estate must go through probate depends on the assets of the deceased person and how they were titled. Usually probate court proceedings are necessary if there are assets that the deceased was the sole owner of and those assets are worth more than $100,000. An experienced Probate Lawyer will be able to guide you in these matters.
Assets that are not subject to probate are: assets in a trust, assets owned in joint tenancy, assets for which a beneficiary has been named, and real estate that is subject to an Illinois transfer-on-death deed.
If you hope to create your estate to avoid probate court upon your death, you should work closely with a Probate Litigation Law Firm that is experienced in Probate Law. The attorneys at Leon J. Teichner & Associates, P.C. will help you secure your assets and keep as much as possible within your family. If you are located in the area of Chicago, IL, call (312) 900-9818 for a consultation.
How Can A Probate Litigator Help Me?
Even with the best estate plans in place, it is possible that disputes might arise regarding the money and property once the person passes away. This can be an emotional and damaging time period for family members if they do not agree with the estate plan or how the executor distributes the assets. Additionally, trustees might also be held liable for how funds and property are distributed.
Because this is such a stressful and traumatic time in the lives of family members and loved ones, a Probate Dispute Attorney can help mitigate stress and deal with the disputes efficiently, if it comes to Probate Litigation in court. A Probate Litigator can take out the guess-work and take the stress of doing it yourself out of the equation. This will allow for all parties involved to step back and take an objective look at the case before them
If you are in need of a Probate Litigator, the attorneys at Leon J. Teichner & Associates, P.C. will guide you through the confusing court process. If you are located in the area of Chicago, IL, call (312) 900-9818 for a consultation.