In this area of law, we help our clients transfer an individual’s estate at his or her time of passing. You’ll want to work with our real estate lawyer near Minooka if you own real estate or you have family that owns a business. Without an estate plan in place, your share may be passed onto the incorrect individual, causing unnecessary stress for your family.
Regardless of your age, we will work with you to help establish a sound plan, taking the time to understand you and your family’s unique needs. Once we understand your family dynamic and financial status, we will draft an estate plan to help meet your needs.
In some cases, a simple will is all that is necessary but other cases require a more complex estate plan. Other helpful estate planning tools include a trust, health care directives and the financial power of attorney. Regardless of your needs, our team at Hanson & Fisher Law Offices is happy to guide you throughout the process.
Do Business Owners Need an Estate Plan?
Business owners also have a responsibility to not only the business, but any partners. In some cases, you may need to allow certain authorities to take over the operational facets of your business so it can continue to operate at your time of disability or passing.
What About Probate in Illinois?
Probate is a legal process that helps ensure that any assets from the deceased individual end up in the rightful hands. In the state of Illinois, probate is necessary for the following reasons:
- Validate the will
- Pay debts or taxes, including estate taxes
- Appoint an estate manager
- Distribute property that is outline in the will; if there is no will, the Illinois laws of intestate succession will kick in
FAQs About Probate in Illinois
Q: How can I avoid the hassle of the probate process?
A: Probate is often associated with a long, drawn-out process, and not to mention expensive. To get ahead of these frustrations, planning is essential. Educating yourself and completing the process as quickly as possible will benefit you in the long run, and our team at Hanson & Fisher is here to help.
Q: How can I start the probate process?
A: Typically, there is an appointed Executor in the will that initiates the probate process, however, the creditor or beneficiary can also start this process. Whoever initiates the probate process will file the will with the court.
Q: How long does probate take?
A: There are many moving parts that dictate exactly how long probate takes. Generally, it takes around one year to complete the probate process. However, if a case is more complicated, it can take 2+ years to complete the process.
If you have more questions about estate planning or probate, please don’t hesitate to reach out to our team at Hanson & Fisher Law Offices today.
