3 Illinois Estate Scenarios

October 16th, 2010 News

H, an Illinois resident, dies WITHOUT a valid Will. After all appropriate claims against H’s estate are settled, H has $50,000 remaining in his estate.

How much will H’s heirs receive if, at the time of H’s death, H is married to W with 2 children, C1 and C2?

In Illinois, if the decedent has a surviving spouse and descendants, then the surviving spouse receives 1/2 of the decedent’s probate estate and the decedent’s lineal descendants receive the other 1/2 of the decedent’s probate estate, per stirpes. Therefore:

W inherits $25,000
C1 inherits $12,500
C2 inherits $12,500

How much will H’s heirs receive if, at the time of H’s death, H is married to W with no children?

In Illinois, if the decedent has a surviving spouse and no descendants, then the surviving spouse receives the decedent’s entire probate estate. Therefore:

W inherits $50,000

How much will H’s heirs receive if, at the time of H’s death, H is unmarried with 2 children, C1 and C2?

In Illinois, if the decedent has no surviving spouse but the decedent has descendants, the decedent’s lineal descendants receive the decedent’s entire probate estate, per stirpes. Therefore:

C1 inherits $25,000
C2 inherits $25,000

The above examples are basic and they show what happens to an estate when a person dies without a Will in ILLINOIS. YOU are unique, so the “ILLINOIS Statutory Estate Plan” may not be right for you. If YOU want an estate plan that fits your needs and situation, call David E. Trice, Attorney at Law at (773) 233-3303 to structure YOUR estate plan YOUR way.