In Lake Bluff, Illinois, probate is the procedure in which a court validates or voids a will.
During probate, the court in Lake Bluff, Illinois will decide the validity of the will, establish and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
The executor of the estate is commonly named in the will. If not, the probate court in Lake Bluff, Illinois will name will appoint a person to serve as executor. This is usually the person who stands to inherit the most under the will.
Because the executor is responsible for actually initiating probate proceedings and seeing them to finalization, the person chosen for this role is often the one who stands to inherit the most from the will - giving them an incentive to put in the necessary time and effort.
Duties of the Executor in Lake Bluff, Illinois
The executor has several duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be finalized before the will is given effect.
Executors must also inform anyone with an interest in the will of the death of the decedent. People with an interest in the outcome of probate are those who are named in the will, or anyone who would likely inherit if the will is invalidated (close relatives, for the most part).
Executors are also required to make accessible an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everybody who is named in the will, or otherwise stands to inherit.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
How Can A Lake Bluff, Illinois Lawyer Help?
Because this can be (though isn't always) a fairly perplexing process, it's a good idea to get a reputable probate lawyer in Lake Bluff, Illinois, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.