Legal Question in Wills and Trusts in Illinois

My aunt passed away last month. Her only relatives were me and my sister. I was her POA, and am now the executor named in her will. Her estate was to be split 50-50. Her only assets were an IRA for $75,000 and bank checking accounts for $15,000, which already have our names on them. Is her estate considered probatable? Do I have to file a copy of her will with the court?


Asked on 7/06/15, 6:08 am

2 Answers from Attorneys

Virginia Prihoda Law Offices of Virginia Prihoda

Illinois statutes require filing of the original will with the clerk of the court of the county in which the decedent resided at the date of death, irrespective of whether the will is going to be probated. So yes, you need to file the will.

From the facts you have outlined, it appears no probate is needed. The IRA should be distributed according to the beneficiary designation, and the bank account balance by the terms of the account agreement. If the bank requires a small estate affidavit, that can easily be provided, in many instances the banks have their own forms they want filled out.

Be careful in withdrawing money from the IRA, IRA withdrawals are subject to income tax. The custodian of the IRA can retitle the account as an inherited IRA and the custodian can help you determine when you are required to take distributions, and the required amount of such distributions.

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Answered on 7/06/15, 9:30 am
Steve Raminiak Law Offices of Steve Raminiak, P.C.

Be sure to consult with an attorney. While it is possible that a probate can be avoided, there are other factors which should be considered. Most attorneys will provide you with a free consultation for this type of matter. Take advantage of that.

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Answered on 7/06/15, 10:42 am


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