When a non-lawyer ventures into the world of probate or guardianship, one item that usually causes confusion is the requirement for the representative to post a bond. Under Illinois law, a court-appointed representative is required to post a bond which covers 150% of the value of the personal estate. This…
On February 9, 2017, Representative Bill Mitchell of Decatur, introduced HB3089 to the Illinois House of Representatives. The proposed legislation would amend the Probate Act of 1975, by adding an additional subsection to 755 ILCS 5/18-3, which provides the notice requirements for probate estates. This bill has not yet cleared…
Probate is the process by which a court will supervise the administration of an estate when someone passes away. Many clients prefer to avoid probate because the process can be time-consuming and costly. This article will examine the various ways probate can be avoided. Joint Tenants with Rights of Survivorship.…
When a guardian is appointed for a person with a disability (the “ward”), the guardian is required to follow certain guidelines. There are two types of guardianships in Illinois, and they each have different rules to follow. The first is “guardianship of the person.” The guardian of the person is…