Detailed Answer
When a loved one passes away, gathering the right documents simplifies estate administration. Under the Illinois Probate Act (755 ILCS 5), the personal representative must file certain records with the circuit court and creditors. Collecting these records early prevents delays and potential disputes.
1. Death Certificate
Obtain multiple certified copies of the death certificate from the local health department or funeral home. You will need these for banks, insurers and government agencies.
2. Original Will and Codicils
Locate the decedent’s last will and any codicils. The personal representative files the will with the circuit court pursuant to 755 ILCS 5/21-2 (link).
3. Letters Testamentary or Letters of Office
Once the court admits the will, it issues letters testamentary (or letters of office if there is no will). These letters authorize you to act on behalf of the estate.
4. Inventory of Assets and Liabilities
Prepare an itemized list of real property, bank accounts, investment portfolios, retirement plans, life insurance policies, vehicles and personal property. Include deeds, account statements, titles and insurance policies.
5. Financial Records and Tax Returns
Gather the decedent’s federal and Illinois income tax returns for the last three years. This helps identify unreported assets and prepares any final and estate tax filings.
6. Beneficiary Designations and Trust Documents
Review beneficiary forms for IRAs, 401(k)s and life insurance. Collect any revocable or irrevocable trust agreements. Assets passing by designation or trust avoid probate but still require documentation.
Statutory Reference
For full estate administration requirements, see the Illinois Probate Act: 755 ILCS 5 – Probate Act of 1975.
Disclaimer: This article is for general education only and does not constitute legal advice. Consult a licensed attorney for guidance tailored to your situation.
Helpful Hints
- Order at least 10 certified death certificates for various institutions.
- Store both electronic and hard copies of each document in a secure folder.
- Check safe deposit boxes for missing deeds, policies and securities.
- Contact financial institutions early to learn their required forms and fees.
- Note deadlines: file for probate within 30 days of appointment under 755 ILCS 5/21-3 (link).