Suing An Estate Executor For Misrepresentation In Illinois
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Comparing Executor, Power of Attorney, and Trustee Roles in Illinois RolePurposePowers Executor Administer the estate Broad, from asset inventory to distribution Power of Attorney Manage financial or healthcare decisions Limited or broad, as defined Trustee Manage trust assets Defined by the trust agreement
If you've been named an executor, a couple basic rules of thumb are that you can't do anything that disregards the provisions in the will, and you can't act against the interests of any of the beneficiaries.
In Illinois, if the deceased left a valid will, then its executor must provide a full accounting of the estate, including how the assets are distributed.
Rates might vary from $10 an hour up to $50 an hour or more.
The state of Illinois does not set a specific time limit for settling an estate, but it does expect executors and probate courts to handle the process as efficiently and diligently as possible. Because of the variation in estates, the length of the process can vary from several months to several years.
In this article... In the state of Illinois, a strict statute of limitations governs the filing period for claims against an estate in probate court. Creditors have exactly two years from the date of death to file their claim.
When a person dies in Illinois, anyone who has a claim against a decedent's estate —whether it is a contract, tort, or statutory custodial claim—may file that claim with the estate representative or with the court.
