Probate Attorney Arlington Heights, IL
Whether you are getting ready to plan your estate or have been named the beneficiary or executor of someone who has recently died, you might be questioning whether or not you should ask an Arlington Heights, IL probate attorney for legal assistance.
If you are looking for legal advice, or you have a probate-related matter and require an advocate on your side, call a probate attorney in Arlington Heights, IL such as one from Bott & Associates, Ltd. For years, we have been probating cases of all sizes and complexities. We are happy to explain some of the probate process and let you know what you might expect. Call us today.
Probate is a legal process that is required in every state when there is a last will and testament. Probate not only proves the validity of the will, but it also names an executor who will oversee its administration and management according to the terms that have been laid out therein. When the decedent (the person who drafted the will) created the will, they would have named an executor, also known as an administrator. This person is responsible for executing the terms, notifying creditors, paying off any debts or taxes, valuated and selling assets to pay the debt, and finally distributing assets to the named beneficiaries.
The circuit court nearest to the resident of the decedent will oversee the probate process. Depending on many factors and circumstances, the process could be relatively simple or very complicated. In general, when there are significant assets involved or there is some kind of dispute, the process will become difficult and typically requires an Arlington Heights, IL probate attorney.
Avoiding Probate is Possible
During the estate planning process, many people will wonder whether or not there is any way to avoid probate. In short, yes, it is, but to do so, this should be considered while you plan out your estate. If any of the following apply, avoiding probate may be possible.
- A living trust is in place
- The estate is worth less than $50,000 or $20,000 in some states
- Named beneficiaries have been included on an investment, or financial account
- The property is jointly owned
If an asset has been left out of a trust, or has no named beneficiaries, it might have to go through the probate process. What will be required in your situation will depend on many factors. An estate planning lawyer in Arlington Heights, IL can help you to understand this when you call Bott & Associates, Ltd.
Call Bott & Associates, Ltd. to Speak with an Experienced Probate Attorney in Arlington Heights, Illinois
No two probate cases are exactly alike. There can be numerous obstacles to overcome, or none at all. Some can be completed in 3 or 4 months while others might take one year or more. The cost of probating an estate tends to be an average of 10 – 15 percent of the estate; however, this could vary. If you would like to learn more about how to probate an estate, or are wondering whether a probate attorney in Arlington Heights, IL is needed, call Bott & Associates, Ltd.