Kane County Probate Lawyers

Probate Attorneys for Clients Located in South Elgin and Huntley IL

When someone dies, the assets and property that make up their estate generally proceed through probate to transfer the decedent's estate to their heirs. Estates with a value of less than $100,000 may not need to go through probate, and may use a small estate affidavit if applicable, to simplify the process. Those who pass away and have an established will, which indicates their wishes, are said to be "testate." When no will exists, the deceased is said to have died "intestate." A personal representative of the estate is one who facilitates the probate process. When named in the will, this party is known as the executor, or if the court appoints someone, they are referred to as the administrator.

In Kane County, probate matters are administered by the Civil Division of the Sixteenth County Circuit Court. The skilled attorneys at Ariano Hardy Ritt Nyuli Richmond Lytle & Goettel, P.C. (AHR) are experienced in estate planning and probate proceedings and has been assisting clients throughout the Fox River Valley area for over three decades.

Wills and Probate in Kane County

A will is a written document indicating how someone wants to have their estate distributed upon his or her death. Wills name an executor as well as the detailed instructions containing final wishes. Created while a person is living, a will can be changed by the person until the individual passes away. Wills are to be presented to probate within 30 days after death. Failure to do so may require the court to disqualify the executor and assign an administrator to conduct the process.

Wills have some general legal criteria for validity. They must have been created by the individual when they were at least 18 years old and while of sound and competent mind. Further, a will must be signed by the decedent as well as by witnesses that are present. Wills may be contested by other parties in probate, meaning that the validity is questioned, and in rare cases, they be left for a jury to decide. Named executors have a duty to defend the validity of the document.

Duties of Executors

Once the probate process has declared that a will is valid, the executor may begin the following actions:

• Serve in an overall manner geared toward asset preservation
• Notification of all heirs and make claim publications such as legal notice announcements in the local newspaper to notify creditors
• Create an inventory listing of all assets within the estate
• Have assets appraised when necessary and sell property as needed
• Transfer and convert accounts such as stocks or bonds
• Collect any life insurance benefits
• Maintain accounting of assets with receipts etc.
• Defend and resolve any claims from creditors to the estate
• File final tax returns
• Manage the asset distribution and disbursement

Income and Estate Taxes

Estates may be impacted by estate taxes and income taxes in varying degrees. The executor can file the final income tax returns of the deceased with consideration of income activities conducted amid the estate administration. Both federal and state authorities have established thresholds where estate taxes may apply. In 2017, the federal estate taxes apply to those totaling approximately $5.49 million or higher. At the state level, Illinois has a $4.0 state estate exemption

Contact Kane County Probate Attorneys

It is highly recommended that you seek assistance from an attorney who will address the future of your estate as part of a comprehensive plan. For over six decades, AHR has effectively assisted clients with wills, trusts, tax planning, and probate matters. We encourage you to contact our office at 847-695-2400 for a free consultation.