In Waterloo, Illinois, probate is the process in which a court validates or voids a will.
During probate, the court in Waterloo, 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.
Wills usually name the person who is to serve as executor of the estate. If no executor is named, the Waterloo, Illinois court will appoint an executor. This is usually the person who stands to gain the most if the will is found to be valid.
The main duty of the executor is to serve as the living incarnation of the estate. Their job is to initiate probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will usually 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 Waterloo, 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 completed before the will is given effect.
Additionally, the executor has to make sure that the decedent's relatives and other people named in the will have notice of the testator's death, usually through the filing of a copy of the official death certificate.
If the decedent was even moderately well-off financially, it's likely that they'll have significant amounts of both debts and assets. The executor is tasked with creating an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
Finally, executors have to actually put forth the effort to prove that a will is valid. As the sole legal representative of the estate, this is their job, and is required for them to inherit, giving them an incentive.
How Can A Waterloo, Illinois Lawyer Help?
Because this can be (though isn't always) a fairly complex process, it's a good idea to get a good probate lawyer in Waterloo, Illinois, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.