What Is a Citation to Recover Assets Under the Illinois Probate Act?
Understanding How Illinois Estates Reclaim Missing Property Key Takeaways: A citation to recover assets is a court-ordered proceeding under 755 ILCS 5/16-1 that compels a person believed to be holding, concealing, or withholding estate property to appear in court, answer under oath, and account for what they possess. It serves dual purposes: recovering tangible property […]
Can a Beneficiary Freeze Estate Assets During an Illinois Citation Proceeding?
Protecting an Inheritance When Estate Assets Start to Disappear Key Takeaways: A beneficiary cannot unilaterally freeze estate assets in Illinois, but the Probate Act offers a court-supervised citation proceeding under 755 ILCS 5/16-1 that may be useful to restrain, recover, and secure misappropriated property. Illinois recognizes Citations to Discover to compel disclosure and Citations to […]
Put the Trust in Trustee – Trustee Responsibilities and Beneficiary Rights as Told Through Tony Bennett’s Estate
Whether you are a trust beneficiary or the trustee, you need to know what that means to avoid issues and potentially costly expenses. Trustees have duties—both in the law and outlined in the trust agreement. Beneficiaries have rights—also in the law and outlined in the agreement. These rights and responsibilities aren’t taught in school. So, […]