Illinois Sample Letter for Closure of Estate - Request for Petition Signature
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How to fill out Sample Letter For Closure Of Estate - Request For Petition Signature?
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FAQ
Closing of an Illinois Probate Estate Once assets have been gathered and inventoried, and any debts and taxes have been paid, the executor can begin closing the estate. The executor must file a final accounting with the court showing how estate assets were handled.
There is no specific timeline for probates in Illinois, and you cannot collect your share of the inheritance money until after probate ends, which can be anywhere between a few months to several years after the process begins. Depending on the complexity of your estate, you may enter a formal or informal probate case.
Depending on the size of the estate and how backed up the courts are, probate could take months or even years. If the deceased left a will and no one contests it, in approximately one year the estate may be closed and any remaining assets will be distributed to beneficiaries.
Deliberately altering or destroying a will, or failing to file it within 30 days after the death of the testator, is considered a Class 3 felony under Illinois law. All original wills which are admitted to probate shall remain in the custody of the clerk, unless otherwise ordered by the court.
What Happens if the Executor Does Not Probate the Will? If probate becomes a requirement, but the executor never goes through the process, this prevents beneficiaries from receiving assets or inheritance. Instead, the state will possess the assets, or they will remain frozen due to the lack of legal beneficiaries.
Seeking Legal Recourse If you believe that the executor is not living up to their duties, you have two legal options: petition the court or file a civil lawsuit.
In Illinois, executors who are tasked with administering an estate must begin the process by petitioning the probate court in the county where the decedent resided for a letter of testamentary, or a letter of administration.
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.
