Distributions, Funding and Completion of Post-Death Administration

Whether it is disgruntled family members or lingering creditors, many unresolved challenges may interrupt the timely completion of probate or trust administration. The Illinois Probate Act and the new Illinois Trust Code provide tools that can assist in the ultimate resolution of conflicts, including judicial intervention, settlement agreements, removal of fiduciaries, and document modification among many others. Learn how to respond to and how to resolve disputes in probate and trust administrations.

Communication with clients not only helps to avoid malpractice complaints, but it is an essential element of estate administration. Few individuals are well versed in what it takes to administer an estate and therefore maintaining open lines of communication ensures the process goes smoothly and your clients better understand duties and critical timeframes.

Antiques, art, jewelry, and other family heirlooms are often the source of the most anxiety and carry the greatest potential for conflict following a death in the family. In many cases, the financial value of the “stuff” is modest relative to other assets that comprise a typical estate or trust. Mitigating the risks of fights over stuff also goes beyond the standard language that is often written into estate plan documents to dispose of tangible personal property at death. Examine a few of the ways in which planners can help their clients reduce the risk of destructive and costly fights over stuff long before their clients actually die.