Everyone should do some basic estate planning—that is, planning to make sure that your wishes are followed after your death, that your family is spared unnecessary expense and delay, and that someone you trust will be in charge if you ever become unable to manage things on your own.
The estate planning documents that all Illinois adults need include:
If you live in Illinois, you may also want to consider planning to avoid probate. Probate is a court proceeding, conducted after someone’s death, which gives your executor authority to pay your bills and transfer your assets to the people who inherit them. But probate can be expensive and time-consuming, and many people prefer to avoid it altogether, saving their families money and hassle. Probate can be easily avoided with a living trust or other methods—as long as you act during your lifetime.
Illinois has an estate tax, but it is imposed on only wealthy families. Every person can leave behind $4 million of assets without paying estate taxes to the state.
The articles below discuss Illinois estate planning issues.
A will can help you protect your family and your property.
Make a Living Trust in Illinois
Learn how to make a living trust in Illinois.
Intestate Succession in Illinois
If you die without a will in Illinois, your assets will go to your closest relatives under state “intestate succession” laws.
Illinois Restrictions on Who Can Serve as Executor
Learn the rules about who can be your executor in Illinois.
If you leave behind more than $4 million, your estate might owe Illinois estate tax.
ABLE Accounts in Illinois: A Savings Plan for People With Disabilities
The Illinois ABLE program allows you to save money without jeopardizing your public benefits.
Illinois Power of Attorney Laws
A durable POA allows someone to to help you with your financial matters if you ever become incapacitated—here's how to make one in Illinois.
The Illinois probate process is a court-supervised legal procedure that is sometimes (but not always) required after someone dies.
Probate court proceedings can be long, costly, and confusing. Learn how Massachusetts families can save time, money, and hassle
Illinois offers some probate shortcuts for "small estates." These procedures make it easier for survivors to transfer property left by a person who has died.
Death With Dignity in Illinois
Illinois is not currently considering the adoption of a death with dignity law.
How to Become an Organ Donor in Illinois
To be part of the solution to the ongoing need for donated organs and tissues, take the following steps to become a donor after your death.
Burial & Cremation Laws in Illinois
Everything you need to know about burial and cremation in Illinois.
Learn the rules that govern home funerals in Illinois.