Losing a spouse is incredibly difficult, and the legal matters that follow can feel confusing and overwhelming.
In Illinois, you’re protected by laws ensuring you inherit at least one-third to one-half of your spouse’s estate, even if a will disinherits you.
Additionally, you’re entitled to a spousal award for living expenses, starting at $20,000, plus more for dependent children. If the will doesn’t provide enough, you can claim an elective share of the estate instead.
These protections are crucial, especially when managing financial concerns or Medicaid planning.
At Woods & Bates, P.C., we’re here to help you understand and exercise your rights. Whether virtually or in person, our firm supports you in safeguarding your future during this challenging time.
Surviving Spouse’s Inheritance Rights in Illinois
When a loved one passes, their assets are distributed according to their estate plan or, if there is no will, through Illinois intestacy laws. Here’s how your inheritance rights work:
Intestate Succession
If your spouse did not have a will, Illinois law determines how their estate is distributed.
- With descendants (children or grandchildren): You’re entitled to inherit half of your spouse’s estate, while the other half is divided among their descendants.
- Without descendants: You inherit the entire estate.
It’s important to note that prior marriages, dependent relatives, or certain legal agreements, such as prenuptial contracts, may affect your inheritance.
Right of Renunciation (Elective Share)
If your spouse left a will that you feel inadequately provides for you, you have the right to claim an elective share of the estate instead. This allows you to choose between what the will offers and a statutory portion of the estate, which is often one-third of the assets.
To exercise this right, you must:
- File a written renunciation with the probate court within nine months of the will being admitted.
- Follow the legal process to claim the elective share.
This option is especially significant for seniors who may need to protect their financial resources for medical expenses or future care.
Per Stirpes Distribution
If one of your spouse’s children passed away before them, their share of the inheritance typically goes to their own children (your grandchildren). This is called “per stirpes distribution” and ensures the inheritance follows family lines.
Surviving Spouse’s Property Rights in Illinois
In addition to inheritance rights, Illinois law provides protections for property ownership, particularly for spouses.
Joint Tenancy with Right of Survivorship
If you and your spouse owned property jointly with the right of survivorship, you automatically became the sole owner upon their passing. This simplifies the transfer process and keeps the property out of probate.
Tenancy by the Entirety
This form of joint ownership is specifically for married couples and provides additional protection against creditors. If your spouse’s debts existed before their passing, this arrangement shields the property from being sold to satisfy those obligations.
Homestead Exemption
Illinois law also allows you to claim a homestead exemption for the family home, protecting it from creditors in certain situations. This exemption can help ensure you have a secure place to live while managing other legal and financial obligations.
Benefits and Social Security
When your spouse passes, it’s crucial to evaluate other sources of financial support available to you.
- Spousal Benefits: You may qualify for Social Security survivor benefits based on your spouse’s earnings record. These benefits can be especially valuable if your own work history doesn’t provide significant retirement income.
- Life Insurance Proceeds: If you are the named beneficiary on your spouse’s policy, these funds typically pass directly to you without going through probate.
- Pension and Retirement Accounts: Many retirement plans allow surviving spouses to receive ongoing benefits or a lump-sum payout. It’s important to understand the terms of each plan and how they align with Medicaid planning goals.
Spousal Award
Illinois provides an additional safeguard to ensure surviving spouses can maintain their standard of living during the estate administration process. This is known as a spousal award.
- The minimum award is $20,000, with an additional $10,000 for each dependent child living in the household.
- Courts consider factors like the size of the estate, your financial needs, and your late spouse’s standard of living when determining the award amount.
This temporary financial support can help cover essential living expenses while other estate matters are resolved.
Protect Your Rights in Illinois: Contact Woods & Bates, P.C.
If your spouse has passed away, you don’t have to face these challenges alone. At Woods & Bates, P.C., we are committed to helping you understand your rights, evaluate your options, and make decisions that safeguard your future.
Whether you prefer a virtual consultation or an in-person meeting, our firm is here to provide compassionate, personalized support. Contact us today at (217) 735-1234 to schedule a consultation.
Together, we can help you secure your financial future and guide you through this difficult time with confidence.