Legal Question in Wills and Trusts in Illinois

Promissory Notes in IL: First a little background: 4 siblings. One sibling, John, precedes father in death. Johns children, now heirs to the estate, are sueing the estate for promissory notes dating back to 1990. Apparently each of the four siblings borrowed money at one time or another prior to 1990, including John. His children insist he paid it back, but can not provide proof. They want principle & compound interest on each note. What is the statue of limitations in IL? Of note, there are witnesses(none related) to the effect that the owner of the estate stated he did not want any re-payment of the notes. This was in 2008. What do you think might happen in court?


Asked on 11/25/12, 10:17 am

2 Answers from Attorneys

Sue Roberts-Kurpis, Esq. Law Office of Sue Roberts-Kurpis

I assume there is also no Will. The notes are more than 20 years old and likely were never recorded. Your facts are somewhat confusing as I can't tell whether John borrowed money which his children claim he has repaid or if money was borrowed by the Estate from John for which his children are now claiming repayment. In the first instance, I don't understand why the children would be suing the Estate and in the second, I don't know why they would need proof that John paid anything back to the Estate. Basically, my feeling is that the court will decline to enforce the promissory notes given their age and the apparent lack of a demand for repayment during the life of the decedent indicating, even without witnesses, that the decendent had little or no interest in collecting on the debt. Best outcome would be for each heir to forgive all debts owed to the estate and split whatever is left over equally.

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Answered on 11/25/12, 10:33 am
Virginia Prihoda Law Offices of Virginia Prihoda

If you have not already consulted an attorney, now would be a good time to have a qualified legal professional evaluate your facts and circumstances. Or else, wait for one of the parties to initiate a suit or attempt to enforce a claim. Doesn't sound like anybody has a clear right to anything, but there's probably more factual information not yet revealed.

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Answered on 11/26/12, 1:51 pm


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