The following form is a Petition that adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another.
Illinois Petition of Creditor of an Estate of a Decedent for Distribution of the Remaining Assets of the Estate
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US-02438BG
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How to fill out Petition Of Creditor Of An Estate Of A Decedent For Distribution Of The Remaining Assets Of The Estate?
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FAQ
A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children. If you die without a will, those wishes may not be carried out.
After someone dies, someone (called the deceased person's 'executor' or 'administrator') must deal with their money and property (the deceased person's 'estate'). They need to pay the deceased person's taxes and debts, and distribute his or her money and property to the people entitled to it.
Statute of Limitations and Claims Deadlines Typically, these time limits range from 2 to 6 years for unsecured debts (such as credit cards), and sometimes even longer for contract debts.
Probate is the court supervised process of identifying and gathering a person's assets after their death, paying all of their debts, and distributing the balance to the rightful heirs or beneficiaries.
Probate is the process completed when a decedent leaves assets to distribute, such as bank accounts, real estate, and financial investments. Probate is the general administration of a deceased person's will or the estate of a deceased person without a will.
Secured debts will get paid first, as they are connected to the assets themselves. Unsecured debts, like credit cards or personal loans, are generally paid last. As executor, it is your legal obligation to put off payment of unsecured debts until funeral costs, estate expenses, taxes, and medical expenses are paid off.
If someone dies without a will, the bank account still passes to the named beneficiary for the account. If someone dies without a will and without naming a beneficiary, it gets more complicated. In general, the executor of the estate handles any assets the deceased owned, including money in bank accounts.
