How Much Does an Estate Have to be Worth to go to Probate in IL?

Probate is the legal process through which a deceased person’s estate is administered and distributed according to their will or the laws of the state if there is no will. In Illinois, the probate process can seem overwhelming for families and loved ones left behind. One common question that often arises is: How much does an estate have to be worth to go to probate in Illinois? 

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The Role of Probate in Illinois

Before diving into the specific value thresholds, it is important to understand what probate involves. When someone passes away, their assets must be distributed to their heirs or beneficiaries. Probate serves as the legal procedure to validate the deceased person’s will (if one exists), pay any outstanding debts or taxes, and ultimately distribute the remaining assets to the rightful heirs.

If a person dies without a will, Illinois law dictates how their assets will be divided, which may require the estate to go through the probate process as well.

The Illinois Estate Value Threshold for Probate

In Illinois, there is no specific minimum estate value required to go to probate. However, certain asset thresholds determine whether or not probate is necessary for the estate. These thresholds are primarily based on the value of the estate’s assets that are not exempt from probate.

  1. Probate Threshold for Real Estate
    If the decedent owned real estate in their name alone, probate is almost always required, regardless of the property’s value. In Illinois, real property generally cannot be transferred to heirs without going through probate, even if it is worth only a few thousand dollars.
  2. Personal Property and the Small Estate Affidavit
    When the estate is composed primarily of personal property (bank accounts, vehicles, investments, etc.) and the total value is relatively low, Illinois offers an expedited probate process called a small estate affidavit. For an estate to qualify for this simplified process, the total value of the personal property must be under $100,000. This threshold excludes real estate, which requires a formal probate procedure, even if it is worth less than $100,000.

  3. If the estate is below the $100,000 threshold for personal property, the heirs may use the small estate affidavit to claim the deceased’s assets without going through a lengthy and costly probate process. This process can be a practical solution for families with limited assets.
  4. Estates Over $100,000
    If the estate is valued at more than $100,000, the probate process is typically necessary. This may involve more time, paperwork, and the potential need for professional assistance from an estate planning attorney. Larger estates are generally subject to a more thorough probate process, where a personal representative or executor is appointed to handle the estate’s affairs.

Exceptions 

While the estate value plays a critical role in determining whether probate is required, there are certain assets that may avoid probate. For example:

  • Jointly Owned Property: If assets are jointly owned with right of survivorship, such as joint bank accounts or real estate, those assets may pass directly to the surviving owner without the need for probate.
  • Payable on Death (POD) or Transfer on Death (TOD) Accounts: Certain financial accounts or investment accounts may allow the named beneficiaries to inherit the asset directly, bypassing probate entirely.
  • Living Trusts: If the decedent created a living trust before passing, assets placed in the trust will not have to go through probate, regardless of the estate’s value.

Contact with an Estate Planning Attorney Today

In Illinois, an estate may not necessarily have to be worth a specific amount to go to probate, but the process is typically triggered by the value of the assets, particularly personal property. Estates worth less than $100,000 in personal property may qualify for the small estate affidavit, simplifying the process. For larger estates or those with real property, formal probate is generally required.If you have questions about probate or need assistance with estate planning in Illinois, it is always a good idea to consult with an experienced attorney. Bielski Chapman, LTD. is here to guide you through the complexities of probate and help ensure that your assets are handled efficiently and according to your wishes. Contact us today for a free consultation.