FAQ

Yes, the Last Will and Testament must be filed with the court. The Last Will and Testament dictates
how the decedent’s estate is to be ultimately distributed, but a probate court must still appoint an
executor who then has authority to carry out the direction in the will (this is called administering
the estate).

When someone does not have legal capacity to make decisions on their own, either because they
are under the age of 18 or because they have a disability, guardianship is the legal term describing
the process in which the court appoints a representative (a guardian) with authority to make
decisions on behalf of that individual. For adults, the court can determine if an individual is partially
or totally incapable of making personal and/or financial decisions for themselves.

A Guardian of the Person has the authority to make personal decisions for the disabled person,
including healthcare decisions. A Guardian of the Estate has the authority to make financial
decisions for the disabled person. Guardians must make decisions in accordance with Illinois law
and the specific direction (orders) of the court.

Parents automatically have custody of their children and are therefore authorized to make personal
decisions on their behalf (healthcare, education, living arrangements, etc.). However, if a minor
child inherits or otherwise receives a large sum of money, the law requires that a guardian of the
estate be appointed in order to make financial decisions for the minor until he or she turns eighteen
(18). Depending on the amount of money in question, a financial institution or a parent can be
appointed guardian of the estate of a minor. A minor may need a Guardian of the Person if
someone other than the minor’s biological parents needs to make personal decisions for the minor
until he or she turns eighteen (18).

A comprehensive estate plan is a set of documents that safeguards your assets, designates decision-
makers to act on your behalf in the event you are incapable of making your own decisions, and
dictates how your estate is to be distributed upon your death.

Typically, a basic estate plan includes a Revocable Living Trust, Last Will and Testament, Power of
Attorney for Healthcare and Power of Attorney for Property. Additional documents may be
necessary to retitle real estate and other assets.

A surety bond is a form of insurance.  This insurance is not protection for the guardian (or
executor/administrator), but it protection for the person who needs a guardian.  By issuing a bond
the bonding agency agrees to repay the child or disabled adult, or decendent's estate, any money that might be lost
because of the guardian’s/representative's actions or mistakes or mismanagement. Illinois law requires ALL court-
appointed guardians/representatives to carry a bond equal to 1.5 times the amount of assets in the
estate (for example, if the estate is valued at $100,000 – the guardian must present a bond to the
court in the amount of $150,000). Bond premiums cost approximately 1% to 2% of the value of the
estate and premiums can be paid from estate assets.