What is probate? Probate is the distribution of a deceased individual’s assets. Distributing an estate can be straightforward in many scenarios, but in others it can prove to be a long and complicated process.
When going through probate, there are a number of steps involved. Outstanding debts need to be paid, an inventory of assets needs to be completed, and beneficiaries have to be contacted. When you combine these steps with turbulent emotions and financial considerations, probate can certainly become chaotic.
Regardless of circumstances, it’s important to collaborate with a probate lawyer in Belvidere, IL, after a loved one’s passing. This helps guarantee a seamless handling of the entire probate process.
Why Work With Our Team
When going through probate, working with a qualified attorney isn’t always necessary. However, it will make the process much easier to navigate.
In most cases, the allocation of assets is determined by the decedent’s last will and testament. If there is no valid will, the distribution of assets is governed by the state.
Hiring an experienced probate lawyer can reduce stress for you and your family during this difficult time. Often, people go through unnecessary frustration and uncertainty during probate. There are a lot of steps involved in this legal process. Without a lawyer by your side, it’s easy to overlook financial obligations, essential documents, or details of probate law.
That’s why our attorneys in Belvidere, IL, at Crosby Law Firm are here to assist. Regardless of the size of the estate, we’ll walk you through each stage in the probate process while also taking time to fully understand your unique situation. We’re highly experienced in Illinois probate law, as well as estate planning, wills and trusts, and real estate matters.
How Our Attorneys Can Help
Our probate attorneys at Crosby Law Firm help handle the intricate legal processes involved in managing probate. When you work with us, we provide:
- Consistent Communication – We ensure our clients are well-informed by providing regular updates to offer transparency and understanding.
- Representation in Court – We support clients during all probate-related court proceedings and skillfully resolve any disputes that arise.
- Financial Management of the Estate – Our responsibilities include the management of all financial aspects of the estate. This can include organizing and paying debts with estate funds, ordering property appraisals, handling estate taxes, etc.
- Handling Paperwork – We take great care in preparing and handling all necessary paperwork for personal representatives and executors. This helps guarantee the precise and timely completion and submission of forms.
- Financial Accounting – We diligently evaluate and document all assets attributed to the estate of the deceased.
At Crosby Law Firm, our primary focus is making the probate process as smooth and stress-free as possible. We ensure every client receives the legal guidance they need after a loved one’s passing.
If you’re looking for an efficient way to manage probate in Belvidere, IL, contact us to schedule a free initial consultation. Our legal team is here to support you.
What are the Steps of Probate?
The probate process in Illinois consists of multiple stages. These include:
- An individual is designated as the administrator of the estate. In the absence of a will, the probate court will designate an administrator.
- To proceed with probate, the court must establish the validity of the will.
- The next step involves conducting an inventory of the decedent’s belongings. Individual assets can’t be sold or distributed until after taxes and debts are paid.
- Property appraisals must be completed and any outstanding debts or taxes must be settled.
- Finally, remaining assets are distributed according to the will. In the absence of a will, the distribution of assets will be determined by state laws.
What Assets are Exempt From Probate?
There are assets that can be exempt from probate. Some of these typically include:
- Assets such as bank accounts that are “payable upon death” to beneficiaries or owned jointly.
- Life insurance policy proceeds.
- Retirement plans, such as IRAs or pensions.
- Assets included in a trust. By placing assets into a trust, inheritance can be distributed more quickly and privately.
Contact Our Probate Lawyers in Belvidere, IL
If you need help with the probate process following a loved one’s death, you’re not alone. Our team at Crosby Law Firm is here to guide you. We understand the legal and financial intricacies of probate in Illinois. We help clients carefully navigate every step with compassion and transparency.
To schedule a free initial consultation with one of our dedicated probate attorneys, contact our law office today.
