Today we were in court at the Daley Center, Circuit Court of Cook County, in downtown Chicago, Illinois. Our client that we signed up today is facing multiple years of needing to account for the expenditures of estate funds over the past 10 years. The point of this brief article is the first lesson is to avoid the pain of probate court. Often times, your relatives get put into these positions of authority called "independent administrators" and they are either not up for the challenge or are simply the wrong person for the job. The second reason is if you are an independent administrator or trustee, you should keep good records.
You can avoid probate court by using a Revocable Living Trust or otherwise, known as a "Living Trust". A Living Trust is an estate planning strategy that avoids probate court by stating who shall inherit your wealth in case of your death or incapacity.
In conclusion, you should be careful about probate court. Probate court can be expensive, long, and drawn out. Sean Robertson is an estate planning and asset protection attorney that concentrates in estate planning, probate and business transfer planning. We can be reached at (312)-854-7102. Our website is www.RobertsonLawGroup.com.
Keywords: accountings probate court, probate Daley Center, Revocable Living Trust benefits, will vs. revocable living trust
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