In Lake Villa, Illinois, probate is the process in which a court validates or voids a will.
During probate, the court in Lake Villa, Illinois will determine the validity of the will, identify 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 often named in the will. If not, the probate court in Lake Villa, Illinois will name will appoint a person to serve as executor. This is normally the person who stands to inherit the most under the will.
Because the executor is responsible for really initiating probate proceedings and seeing them to completion, 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 Villa, Illinois
The executor has many duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be completed before the will is given effect.
Executors must also notify anyone with an interest in the will of the death of the decedent. Individuals 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).
Because people who stand to inherit from the testator may be scattered around the country, or even the world, contacting them is sometimes difficult. One of the responsibilities of the executor is to gather a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They further have to account for all the testator's debts and assets.
As the representative of the estate, the executor has to take charge of the probate process, filing the required court papers, and, if necessary, hiring an attorney for assistance. If the estate is large, and the executor stands to inherit a great deal of money once this process is fulfilled, they'll probably find it to be worth the time and expense.
How Can A Lake Villa, Illinois Lawyer Help?
Because of the intricacies inherent in the probate process, it is a good idea to hire an accomplished Lake Villa, Illinois probate lawyer, particularly for the executors of estates.