Legal Question in Wills and Trusts in Illinois
father's estate
my father died recently, his estate will proceed through probate, there was no will...my sister, who was raised by my father is overseeing all financial matters related because they lived in the same state. how do i find out what assets - insurance policies, etc- he had. does she have complete access to bank accouts etc? she needs my mom and dads marriage license, why?
2 Answers from Attorneys
Re: father's estate
Once she receives her appointment from the court as executor, she has access to your father's assets that are distributed to probate court. The court records are open to everyone. The assets, like insurance polices, more difficult to learn about because the transfer straight to the beneficiaries. Find out, first, through your sister. If you sense problems, hire an attorney.
Re: father's estate
There are certain assets that will become a part of the probate estate and others that will not.
Those that are part of the probate estate can be revealed by requesting that the estate be "supervised" rather than "independent" administration. Supervised administration requires the court to oversee everything that happens during the administration. It also requires an initial inventory of estate assets to be filed by the executor.
The problem of discovery will lie in assets that are not a part of the probate estate, such as life insurance (however, if the policy does not name a beneficiary then this also may be part of the estate's assets), joint bank accounts, beneficiary accounts, and other assets held in joint tenancy with someone else.
As a beneficiary of the estate, your sister is required to send you the probate documents when the estate is opened, but if the estate is independent administration, the papers won't tell you much about the assets.
I would advise that you consult with a probate lawyer (practicing in or near the county where your father resided) to take a look at the probate file and whatever other documents you may have. You should do this in order to ascertain your rights and to see whether you should have someone representing your interests before the court.
Good luck to you. If the estate is in Cook or Lake County, please let me know if I can assist.