755 ILCS 5/19-11
2021 Illinois Compiled Statutes|Chapter 755 - ESTATES|755 ILCS 5/ - Probate Act of 1975.|Article XIX - Administration of Personal Estate

 (from Ch. 110 1/2, par. 19-11)Sec. 19-11.         Desperate personal estate of decedent.) (a) Upon  suggestion made in the final account or report or on petition of a  representative stating that any personal estate of the  decedent other than goods and chattels is of desperate  value and giving the reasons therefor, the court may order  the evidence of the desperate personal estate to be deposited  with the clerk of the court for the benefit of such of the  heirs, legatees or creditors of the decedent as may be entitled  thereto, except that if it appears to the court that the  desperate personal estate or any part thereof is totally  worthless the court may direct the representative to destroy  or otherwise dispose of the evidence thereof and file an  affidavit of destruction or disposition with the clerk.  Notice of the hearing on a petition under this Section  shall be given, as the court directs, to unpaid creditors  and to every person entitled to a share of the estate who  has not received that share in full, but no notice need be  given to any person who waives notice.  After the deposit  is made or the affidavit is filed the representative has no  further responsibility with respect to or liability for the  desperate personal estate.(b) By leave of court any heir, legatee or creditor having  an interest in any deposited personal estate may take action  necessary to realize its value, in the name of the representative  or in his own name.  Upon realizing the value of the desperate  personal estate or any part thereof, the heir, legatee or creditor  shall report to the court and be chargeable therewith and, after  deducting his claim or distributive share and reasonable  compensation for realizing the value, shall distribute the  overplus as directed by the court.  The representative is not  liable for costs or other expenses incurred in any proceeding  or action under this Section.(c) At any time after 21 years following the deposit of any  desperate personal estate, by leave of the court, the clerk  may destroy or otherwise dispose of the evidence without notice  or upon such notice to interested persons as the court directs  and shall place a certificate of destruction or of disposition  in the estate file.Any sums realized from the disposition of said personal property shall  be transferred by the clerk pursuant to an order of court to the county  treasurer of the county in which the estate was administered for deposit  into the general fund of the county.Any person having a right thereto may file a claim with the court which  ordered the disposition of the property for the sum realized from such  disposition. Upon proof of the claimant's right thereto the court may enter  an order upon the county treasurer to pay the claimant the amount to which  the claimant is entitled without interest.Unless a claim is filed within one year from the date of the order  transferring the sums realized to the county treasurer said sums shall  escheat to and become the property of the county.    (Source: P.A. 84-555; 84-690.)