Chicago Executor Trustee Guidance Probate Administration and Litigation Lawyers
Illinois Attorneys Providing Executor and Trustee Guidance in Estate and Probate Matters
Understanding of the probate process, knowing what is expected in each role, and having an experienced probate lawyer are all important keys to an efficient probate administration process. At the Law Offices of Anthony R. Scifo, we believe that prompt communication and client education goes a long way. Our compassionate, trustworthy service makes us a solid choice among Chicago probate litigation attorneys. We pride ourselves on guiding extremely efficient, well-organized probate proceedings. We help executors, trustees, and beneficiaries build a solid knowledge of the probate process.
Explaining the Estate Administration and Litigation Process
Probate is a court-guided process that occurs when a person passes away. During the probate process creditors are notified, debts are paid, and assets are distributed to qualified heirs, beneficiaries, and legatees. When a party challenges how the estate is administered, such as contesting a will or trust, their claims must be examined and either honored or dismissed based on the evidence.
How to Understand the Elements in an Executed Will or Trust
An executor is charged with managing every aspect of the estate. It is an extremely important and time-consuming role. Our probate litigation practice provides guidance to executors on the following:
- How to properly read, understand and execute a will or trust;
- Asset management and allocation;
- Debt and expense management;
- Proper funding of distributions; and
- The estate closure process.
Detailed, regular communication with beneficiaries on all important developments throughout the probate process is crucial to minimizing confusion and complaints. Keeping thorough records will help the process to run more smoothly. Remember, even unintentional mismanagement of an estate is a serious matter. Be sure to align with a reputable firm experienced in probate and probate litigation.
Explaining Duties and Responsibilities to Trustees
A designated trustee manages the assets inside of a Trust. Trustees are responsible for handling all legal and tax-related issues in a trust and making sure that the trust is administered and distributed in accordance with an estate plan. Some common trustee duties and responsibilities include, but are not limited to:
- Proper asset administration according to the terms set forth in the Trust;
- Ensuring that assets are not put at risk;
- Taking responsibility for timely tax filings;
- Creating and maintaining all necessary Trust documentation; and
- Communicating with beneficiaries as needed.
Our firm works closely with executors and trustees to communicate the responsibilities of each role and provide sound guidance on the probate process. We are happy to answer any questions you may have and share knowledge about probate in Illinois.
Work with an Experienced Probate Litigation Firm Now
If you are an executor, trustee, or beneficiary of an estate and need help navigating the probate process, please contact our firm today. Call 847-628-8311 to set up an initial consultation. We help clients throughout Chicago including Elgin, Rolling Meadows, Barrington, Carpentersville, South Elgin, Lake In the Hills, Crystal Lake, Geneva, St. Charles, Kane County, Cook County, and surrounding counties. We look forward to speaking with you.