Probate Procedures

Lake County Probate Administration Lawyers

Summary release from Administration.

This procedure generally applies where the assets of the estate are less than $2,000 or the amount of the funeral and burial expenses.

Release of administration

This procedure generally applies where the assets of the estate are $35,000 or less and the Probate Court finds that creditors will not be prejudiced; or if the assets of the estate are valued at $100,000 or less and either: (a) the decedent’s Will leaves all of the assets to the surviving spouse; or (b) there is no Will and the surviving spouse is entitled to receive all of the assets of the estate.

Full administration

This procedure may be followed whether there is a Will or not. The person in charge (fiduciary/administrator/executor) has numerous obligations and procedures which must be followed.

Examples are as follows:

  • Admit Will to Probate Court
  • Have executor/administrator appointed
  • Obtain and file bond, if necessary
  • Obtain taxpayer identification number (TIN)
  • Open an Estate bank account
  • File inventory within three months of appointment of fiduciary
  • Collect assets & appoint appraisers, if necessary
  • Convert the assets into money, as needed
  • Invest the estate’s assets
  • Pay creditors and succession taxes
  • File State and Federal Estate tax returns, if necessary
  • Distribute to legatees or distributes
  • File accounts, including final account
  • File income tax return, if necessary
  • Settle the estate.

Contact Our Attorneys

Our attorneys can be reached by e-mail or by telephone at 440-942-6267. Speak to one of our attorneys before you sign a settlement agreement.

Free initial consultation in person or over the phone.

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