Alternatives to Probate in Illinois

Article written by Illinois Attorney Kevin O’Flaherty

In this article, we explain alternatives to probate in Illinois. We explain Illinois Small Estate Affidavits, summary administration of Illinois estates, and using a Bond in Lieu of Probate to administer an estate. We also answer the questions: “what is probate?”, “when is probate required in Illinois?”

What is Probate?

Probate is a court case that is sometimes necessary to give the administrator of a deceased person’s (known as the “decedent”) estate the power to handle the decedent’s assets, pay the decedent’s debts and distribute the balance of the estate to the decedent’s heirs and beneficiaries. For more, check out our article: The Illinois Probate Process Explained.

In a probate case, the court oversees the executor or administrator (known as the “personal representative”) of the estate in the distribution of assets. The personal representative is required to provide certain notices and reports to creditors and beneficiaries of the estate.

When is Probate Required in Illinois?

Probate is generally required in Illinois when the decedent owned at least $100,000.00 in assets or any real estate assets (regardless of value) outside of a trust, joint ownership with right of survivorship, or an account that is automatically payable to a direct beneficiary upon death. For more on this, check out: When is Probate Required in Illinois?
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