In Urbana, Illinois, probate is the process in which a court validates or voids a will.
During probate, the court in Urbana, Illinois will determine the validity of the will, distinguish 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 Urbana, Illinois court will appoint an executor. This is typically the person who stands to gain the most if the will is found to be valid.
The basic duty of the executor is to serve as the living incarnation of the estate. Their job is to begin probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will typically be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Urbana, Illinois
The executor has various duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be finished before the will is given effect.
Additionally, it's the executor's job to notify all involved parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
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 collect a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They additionally 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 proper court papers, and, if necessary, hiring an attorney for help. 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 Urbana, Illinois Lawyer Help?
Because of the difficulties inherent in the probate process, it is a good idea to hire an efficient Urbana, Illinois probate lawyer, particularly for the executors of estates.