In Shorewood, Illinois, probate is the procedure in which a court validates or voids a will.
During probate, the court in Shorewood, 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.
Wills typically name the person who is to serve as executor of the estate. If no executor is named, the Shorewood, Illinois court will appoint an executor. This is typically the person who stands to gain the most if the will is found to be legitimate.
The executor is the person accountable for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest incentive to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Shorewood, Illinois
The executor has many duties regarding the will. First, they have to truly initiate the probate proceedings, which must be finalized before the will is effectuated.
They additionally are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
Executors are also obliged 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 proper 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 done, they'll probably find it to be worth the time and expense.
How Can A Shorewood, Illinois Lawyer Help?
Because of the difficulties inherent in the probate process, it is a good idea to hire an efficient Shorewood, Illinois probate lawyer, particularly for the executors of estates.