Frequently Asked Question:
Does Having a Will Affect Probate

 

Assuming that the decedent left assets subject to probate, a dramatic difference can occur if the person died testate (with a will) or intestate (without a will).

Although the same court system is used with and without a will, major differences occur if there is no will.

WillNo Will
Called ProbateCalled Administration
Executor Set by WillAdministrator Set by Statute
Distribution Decided in WillDistribution Set by Statute
Can Specify No Bond
Result: Major Cost Savings
Bond Required
Result: Large Cost of Estate
Can Specify Independent Status
Fewer Court Dates/ Lower Fees
Can Request Independent Status
If Supervised Results in More Court Dates
and Higher Fees
Executor Broad Powers By WillAdministrator Statutory Powers
Fewer Appraisals RequiredAppraisals More Likely

Planning Point:

 

If you do nothing else, write a Will to save on time, money and to achieve the results you want, not the results Illinois’ legislature and court system finds reasonable.

For more information on estate planning, see:

For more information contact us at 847-253-8800 or info@wpdlegal.com