What is the dollar amount in Illinois of an estate that would require it to be probated? Is joint tenacy real estate included in that figure?
Answer
The purpose of probate is to distribute property of the deceased to legal beneficiaries. If real estate is owned be a person still alive, probate is required. If both joint owners have died, probate will be necessary. Dollar amount re real property is not most important; it is whether a living person or a legal entity such as a trust or corporation owns the real property.
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