What is the deadline for filing an estate inventory in Illinois probate?
Sixty days after letters of office are issued (755 ILCS 5/14-1), with a supplemental inventory due within 60 days of discovering additional property. The inventory must list all personal estate with no dollar floor, so vehicles, jewelry, art, equipment, and household contents all belong on it, and values reported there become part of the court record.
Does Illinois probate require a professional appraiser for personal property?
Not automatically. Under 755 ILCS 5/14-2 the representative may value goods and chattels personally or employ one or more competent, disinterested appraisers. Courts order formal appraisals mainly in supervised or contested administrations, and estates facing federal estate tax need qualified appraisals for the return, which is where our reports are most often used.
What happens when an Illinois court orders an appraisal?
The court appoints one to three disinterested appraisers who take an oath and report a written valuation to the court (755 ILCS 5/20-8). If such an appraisal is made, a sale of the property generally cannot close for less than two-thirds of the appraised value, a protection specific to Illinois that makes the appraised figure directly consequential.
Can a small Illinois estate skip probate and formal appraisals?
Yes, if it qualifies: Illinois's small estate affidavit covers personal estates of $150,000 or less, excluding motor vehicles registered with the Secretary of State. Qualifying estates document values in the affidavit itself rather than through a court-filed inventory, though beneficiaries often still want defensible valuations for tax basis and fair division.