Would you please explain the $1000 Illinois limitation on personal property? I ran across this term when I was finding out information about setting up a will and trust.
Answer
Are you sure you are not thinking about the $100,000 limit for a small estate?
Answer
You seem to be referring to Illinois' probate threshold of $100,000.
If, at death, a person possessed no real property and the gross value of his estate does not exceed $100,000, then a probate can probably be avoided by the use of a certain type of affidavit. This affidavit should be prepared by an attorney after an attorney reviews your particular situation.
Feel free to call me for a free consulation. I'd be happy to assist you with your will and trust.
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