Clancy & Associates advises Executors and Trustees on their responsibilities, negotiate conflicts, administer probate, distribute assets, and organize asset sales and distribution with compassion and empathy. Have you been named as Executor or Trustee of a loved one's estate plan, and are not sure how to administer the estate? Give us a call or send us a message.
What is Probate?
Probate is the court supervised process of transferring your estate in a certain manner. Each state has a written set of laws governing this process. The attorneys at Clancy & Associates, Ltd. in Lisle, IL work with our clients to find the fastest and most cost effective way through the complex probate system. We are licensed to assist you with probate in Illinois and Wyoming. While probate is known for being a long, expensive process, we are committed to accomplishing your loved one’s goals and reducing costs and taxes wherever possible.
During this process, an executor (if there is a will) or a court appointed administrator (if there is not a will) will need to complete the following under supervision of the court:
There is a misconception that you can avoid probate by having a will. Your estate will be probated regardless if you have a will or not. If you do have a valid will, then your will establishes how your estate is transferred. Without a valid will, the laws of the state you reside in will determine how your estate is distributed.
For additional information on probate and trust administration, please contact the attorneys at Clancy & Associates.
During this process, an executor (if there is a will) or a court appointed administrator (if there is not a will) will need to complete the following under supervision of the court:
- Notify heirs, creditors, and the public of the deceased
- Collect and inventory assets
- Pay the deceased's final bills, estate taxes, and/or inheritance taxes (if any)
- Distribute remaining assets to the beneficiaries
There is a misconception that you can avoid probate by having a will. Your estate will be probated regardless if you have a will or not. If you do have a valid will, then your will establishes how your estate is transferred. Without a valid will, the laws of the state you reside in will determine how your estate is distributed.
For additional information on probate and trust administration, please contact the attorneys at Clancy & Associates.
