What Is the Amendment to the Probate Act of 1975? | IL

HB 1268 amends the Probate Act of 1975, providing that a person who has been convicted of a felony is qualified to act as an executor of an estate if:

• The testator acknowledges he or she is aware the person has been convicted of a felony and
• The person is otherwise qualified to act as an executor.

The bill’s sponsor stated during Senate debates that individuals who have committed a felony and served their time should be allowed to help their families. A person chosen to serve as an executor following incarceration for a felony must be at least 18 years of age and must not be unsound in mind or body.

Another Senator argued against the measure, citing precautions to ensure that those involved in estate planning activities were not taken advantage of. The final version of the measure excludes felons who have been convicted of a financial crime, a crime against an elderly person, or an individual with disabilities. It also excludes those who have been convicted of one of these crimes in a separate state or federal court.

If you have questions regarding estate planning or how to choose the best executor, it can be beneficial to speak to an experienced Naperville, IL estate planning lawyer from the Gierach Law Firm. Attorney Denice Gierach is ready to help you plan for all eventualities through an estate plan that fully reflects your situation and your goals.  

What Does an Executor Do?

The executor of an estate manages your assets at the time of your death, following the instructions in your will or trust. Your executor will act in your best interests while paying your debts and taxes and distributing your assets. If you do not choose an executor, the court will choose one for you, and the person chosen by the court might not be the person you would choose. 

Your executor will coordinate dealing with the court, beneficiaries, representatives, and debtors. It is not uncommon for an estate to be open for as long as two years, so this is a serious designation that requires considerable thought. Your executor will:

• File your will and other paperwork with the probate court.
• Identify all your assets and liabilities and conduct an inventory of the estate assets.
• Manage all assets and liabilities during the entire process.
• Have certain assets valued.
• Keep accurate records of the entire process.
• Fully comply with all probate laws, regulations, and court orders.
• Handle and resolve any disputes among beneficiaries.
• Distribute all assets to named beneficiaries.
• Finalize all transactions and close the estate.

Considerations When Choosing an Executor

When you are choosing an executor for your estate plan, there are several things to keep in mind:

• Consider the financial experience of any person you are thinking of appointing as executor of your estate.
• Think about whether the person shows significant attention to detail and is, overall, a responsible adult.
• While the unexpected can and does occur in our lives, choose an executor that you can at least expect to outlive you.
• Geographic location is important; when you choose an executor who lives in another state, there will automatically be logistical details for that person.
• Consider naming an executor and a successor executor if the original executor cannot serve.

Contact a Naperville, IL Estate Planning Lawyer

Choosing a Naperville, IL estate planning attorney from Gierach Law Firm is a positive step forward as you have your estate plan prepared. Attorney Denice Gierach is a lawyer who is also a certified public accountant and has a master’s degree in management. Her experience as a lawyer and a business owner gives her a unique perspective on all estate planning issues. At Gierach Law Firm, we offer a variety of estate planning packages to ensure your unique needs are met. Call 630-228-9431 today to schedule a visit with a skilled estate planning attorney.