The major reasons include the costs, time and lack of privacy that comes along with probate. There are many expenses involved in Probate administration, including attorney's fees, court fees, executor's fees, accounting fees, etc. In Illinois, a probate estate has to be open for at least six months but may be open for one year or more. The probate estate court files are also matters of public record so there is a definite lack of privacy.
Most people avoid probate by drafting a living trust. If you are interested in an estate plan to avoid probate, call Attorney Bradford Miller for a free consultation.
Published by: Bradford Miller Law, P.C.
10 S. LaSalle, Suite 2920
Chicago, IL 60603
312-238-9298
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