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.
|Called Probate||Called Administration|
|Executor Set by Will||Administrator Set by Statute|
|Distribution Decided in Will||Distribution Set by Statute|
|Can Specify No Bond|
Result: Major Cost Savings
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 Will||Administrator Statutory Powers|
|Fewer Appraisals Required||Appraisals More Likely|
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:
- Estate Planning FAQ – What to bring?
- Estate Planning FAQ – Gifting
- Estate Planning FAQ – Life Insurance
- Estate Planning FAQ – Protect minor children
- Estate Planning FAQ – What is an Estate?
- Estate Planning FAQ – Imminent Death
- Wills and Probate
- Estate Planning FAQ – Is Probate Required?
- Estate Planning FAQ – Preparing for Initial Meeting
- Estate Planning FAQ – Personal Mission Statement
- Estate Planning FAQ – Revising an Estate Plan
- Planning For Long Term Care
- The Power of Attorney for Property
- Some Things In Life Are a Shock
- Misconceptions Affecting Assets After Death
- Estate Planning in the Springtime of Your Life
- Estate Planning in the Summer of Your Life
- Estate Planning in the Autumn of Your Life
- Estate Planning In the Winter of Our Lives
For more information contact us at 847-253-8800 or email@example.com