• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Final Inventory - Illinois

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

S

spotopa

Guest
How much detail, if any, must there be in the final inventory when the estate is settled? What are the guidelines? What rights if any do the legatees have to object?
 


dmode101

Member
That depends first of all on whether it is supervised or independent administration. If it is indepedent, it does not need to be filed with the court, only send to the beneficiaries.

In any case, it should detail each asset, any income and all expenses along with a proposed distribution. Different counties have different guidelines or forms they request attorneys to follow, but this is rough. I'm talking about the final accounting along with the inventory.

A beneficiary certainly has a right to challenge or question items in the inventor or accounting and have a hearing on the matter. Good luck.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top