Understanding Estate Law: What You Need to Know!
Most people don’t think about estate law until it hits their own family. The professionals at Hampleman Law, LLC understand that estate planning can be a stressful and sensitive topic for some people, but it’s something that everyone should consider in advance before the time is too late.
This is an event that is extremely common and there are very important rules that Illinoisans need to make sure to follow.
Let’s say that a loved one has passed away, and you/another family member found a copy of their will? Now what?! This is an event that is extremely common and there are very important rules that Illinoisans need to make sure to follow. If the decedent had a will, it has to be filed with the clerk of court in the county where the decedent resided at the time of death within 30 days of the death.
In many cases, the will is found after the deadline. So long as this is a simple mistake, file it as soon as possible. But it should be noted that hiding or destroying a valid will is a crime. Therefore, in order to avoid any possible future conflict, as soon as a will is discovered, an attorney should be retained and the will should be filed with the clerk of the court.
This is a step that is overlooked but extremely important in some cases
The next step that should be taken is to notify all surviving beneficiaries of the decedent. For some families, this is easy to do, but not everyone has a good relationship with their relatives. In order to cover all bases, it is highly encouraged to notify all possible beneficiaries even if you haven’t seen them for an extended period of time. This is a step that is overlooked but extremely important in some cases, especially if the decedent’s will calls for a per stirpes distribution, a per stirpes distribution means that a beneficiary's share passes to their lineal descendants if the beneficiary dies before the inheritance vests.
Do you have questions about your estate plan? The professionals at Hampleman Law, LLC are well-versed in estate plans that contain wills, powers of attorney (both durable and healthcare), and even complex estate matters that require revocable and irrevocable trusts. Please contact us today for an initial, no-cost consultation. We offer most simple estate plans at a flat rate with transparent billing!