In this video, we discuss businesses in probate and explain how to handle businesses in an Illinois estate. Probate is a court case during which the court oversees the management and distribution of a deceased individual’s estate. Probate is required in Illinois when a deceased individual owned any real estate outside of a trust and without a deed indicating joint survivorship, or at least $100,000.00 in assets outside of a trust or outside of payable-on-death accounts. For more, check out: When is Probate Required in Illinois?
Read more in the article at:
https://www.oflaherty-law.com/learn-about-law/businesses-in-probate-how-to-handle-businesses-in-an-illinois-estate
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