Disclaimer: This article is for educational purposes only and does not constitute legal advice.
Detailed Answer
When someone dies in Illinois, the personal representative (executor or administrator) must follow specific steps to administer the estate. Below is an overview of each key stage, with statutory references.
- File a Petition and Appoint a Personal Representative. The personal representative opens probate by filing a petition in the circuit court of the county where the decedent resided. Once approved, the court issues Letters of Office. See 755 ILCS 5/21-18.
- Notify Creditors. Publish a notice to creditors in a local newspaper and mail notice to known creditors within three months of appointment. Creditors then have six months to file claims against the estate.
- Locate and Secure Estate Assets. Identify all assets—real estate, bank and brokerage accounts, pensions, vehicles, personal property, and digital assets. Secure valuable items and consider changing locks on real property.
- Inventory and Appraise Assets. Within six months of appointment, file an Inventory and Appraisement listing each asset and its fair market value. Failing to file timely may expose the representative to liability. See 755 ILCS 5/21-3.
- Pay Debts and Expenses. The representative must pay funeral expenses, administration costs, taxes, and valid creditor claims in the order set by Illinois law: 1) funeral and burial expenses; 2) estate administration costs; 3) medical expenses; 4) all other claims. See 755 ILCS 5/24-1.
- Prepare Final Accounting. After settling debts, prepare a detailed accounting of all estate transactions. File the accounting with the court and serve it on beneficiaries and heirs.
- Distribute Remaining Assets. Once the court approves the final accounting, distribute assets according to the decedent’s will or, if there is no will, under Illinois’ intestate succession rules. See 755 ILCS 5/2-1.
- Close the Estate. File a petition for discharge of the personal representative, surrender the Letters of Office, and obtain a court order formally closing the estate.
Helpful Hints
- Maintain a centralized folder or digital file with receipts, appraisals, and court filings.
- Communicate regularly with beneficiaries to manage expectations and reduce disputes.
- Engage qualified appraisers for real estate and unique personal property.
- Consult a tax professional to address estate tax returns and income tax issues.
- Consider hiring a probate attorney for complex estates or contested matters.