This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Illinois Assignment of All of Expected Interest in Estate in Order to Pay Indebtedness
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§ 2-7. Disclaimer. (a) Right to Disclaim Interest in Property. A person to whom any property or interest therein passes, by whatever means, may disclaim the property or interest in whole or in part by delivering or filing a written disclaimer as hereinafter provided.
A disclaimer of interest is, essentially, a written statement to the probate court where someone who stands to inherit property or assets states that they do not wish to exercise that inheritance. They ?disclaim? any right to receive the interest that they otherwise would.
What Is An Illinois Disclaimer of Interest? A beneficiary of property in Illinois can disclaim all or part of their interest in that property ing to 755 ILCS 5/2-7(a). This document must: be received no later than 9 months after the transfer is made or the date of death.
28-11. Closing the estate. (a) An independent representative is accountable to all interested persons for his administration and distribution of the estate but need not present an account to the court unless an interested person requests court accounting as in supervised administration.
24-21. Deposit or investment of money of a ward, subject to court order. The receipt of the bank or trust company constitutes a voucher for accounting purposes.
Deadline to close the estate: 14 months from the date the will is admitted to probate. If the estate remains open after 14 months, the court will expect the representative to account or report to the court to explain why the estate needs to remain open.
Delegation of performance; assignment of rights. (1) A party may perform his duty through a delegate unless otherwise agreed or unless the other party has a substantial interest in having his original promisor perform or control the acts required by the contract.
28-11. Closing the estate. (a) An independent representative is accountable to all interested persons for his administration and distribution of the estate but need not present an account to the court unless an interested person requests court accounting as in supervised administration.