About Illinois Business Formation part 3

How Does the Probate Process with a Will Differ from the Intestate Probate Process? If a decedent dies intestate (without a will), the property will be distributed to the beneficiaries according to state law. If there are no relatives, the property will go to the state. If minor children are impacted by the decedent’s death, a guardian ad litem will be appointed to determine guardianship issues. Additionally, intestate probate proceedings are public proceedings, with all information publicly … [Read more...]

About Illinois Business Formation part 2

What Are the Advantages of the Illinois Probate Process?  Although the probate process can take time, there are several advantages to estate administration in probate court. For instance, when an estate goes to probate, any claims against the estate must be filed within six months of the notification of death. If the estate is not in probate (i.e., if all property is distributed through a trust), creditors have up to two years to file a claim against the estate. Another advantage of the … [Read more...]

About Illinois Business Formation part 1

Frequently Asked Questions about the Illinois Probate Process In most instance, after a person dies in Illinois, the decedent’s estate goes into probate. When Does Probate Apply?  In most cases, a decedent’s estate will go into probate after he or she dies. Generally, the formal probate process is necessary in Illinois if: The estate consists of assets that the decedent owned individually (not jointly); and The value of all estate assets, together, exceeds more than $100,000. Certain … [Read more...]

A Guide to Selling a Home in Illinois part 3

Steps Involved in Selling a Home Selling your home can be a daunting process, and sellers often feel an emotional attachment to their home, making the process all the more fraught with complexities. A lawyer can help you manage each step of the home sale process so that you can move through the process as easily as possible. While each home sale is different and progresses on its own timetable, the following is a general step-by-step guide to the process of selling a home. • First, you … [Read more...]

A Guide to Selling a Home in Illinois part 2

Why It Is Important to Hire a Lawyer When Selling Your Home Sellers of residential real estate are often tempted to proceed without the assistance of an attorney, but a real estate lawyer can be critical in facilitating a smooth transaction. Not only does a real estate lawyer advocate on your behalf when negotiating the terms of the purchase/sale contract, but he or she can also do the following: • Review your listing agreement with a potential real estate broker to ensure that you are … [Read more...]

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