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probate law in illinois

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J

johnathan

Guest
Hello,

I am writing behalf of a gentleman whose brother passed away about two years ago in Chicago. What he would like to know is how long must the brother's estate remain in probate before it can be distributed? Also any links to information about the relevant state probate law would be much appreciated.
Thanks

Johnathan
 


I

IllinoisEstates

Guest
Generally, the estate must remain open at least 6 months after the probate estate is formally opened. After that, if:
1) there are no unresolved claims;
2) the will has not been challenged;
3) there are no will construction issues; and
4) a Federal estate tax return will not be filed...then the estate is ready to be closed and assets distributed.
If an estate tax return was filed (in 1997, assets >$625,000), the executor must generally wait until the IRS issues its estate tax closing letter, which is generally w/i 18 months after death. There are some other considerations, if you need more info or think you may need to speak with an Illinois attorney, e-mail me at [email protected].
 

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