2023 Illinois Compiled Statutes › Chapter 755 - ESTATES › 755 ILCS 5/ - Probate Act of 1975. › Article XXIV - Accounts

(755 ILCS 5/Art. XXIV heading)
ARTICLE XXIV
ACCOUNTS
(755 ILCS 5/24-1) (from Ch. 110 1/2, par. 24-1)
Sec. 24-1. 
		
		Duty to account.)  (a) Except as provided in subsection
(b), within 60 days after the expiration of
12 months after the issuance of letters or within such further
time as the court allows
and thereafter whenever required by the court until the administration
is completed, and if the letters are revoked, within such time as the court
directs, every representative of a decedent's estate shall prepare and present a
verified account of his administration to the court which issued
his letters.  The account shall state the receipts and
disbursements of the representative since his last accounting and all
real and personal estate which is on hand and shall be accompanied
by such evidence of the disbursements as the court may require.
(b) If written consents of all interested persons are filed in the
court, the court may excuse the preparation and presentation of an account,
subject to such conditions as the court deems appropriate.
(Source: P.A. 84-555; 84-690.)
(755 ILCS 5/24-2) (from Ch. 110 1/2, par. 24-2)
Sec. 24-2. 
		
		Notice of accounting - effect.)  Notice of the hearing
on any account of a representative of a decedent's estate shall be given
as the court directs to unpaid creditors and to all other interested
persons.  If the account is approved by the court upon the hearing, in the
absence of fraud, accident or mistake, the account as approved is binding
upon all persons to whom the notice was given.  No notice, however, shall
be required under this Section either (a) to any person
from whom a receipt in full is exhibited to the court or who waives
notice, or (b) whenever a trustee of a trust is an interested person, to any
beneficiary of the trust by reason of the beneficiary's interest in the
trust, but a trustee given notice of an account under this Section shall be
liable to the trust beneficiaries for any breach of fiduciary duty by the
trustee in connection with the account.
(Source: P.A. 85-994.)
(755 ILCS 5/24-3) (from Ch. 110 1/2, par. 24-3)
Sec. 24-3. 
		
		Order of distribution, abatement and contribution on settlement
of estate.)  (a)  The court may enforce the settlement of estates.  On every settlement
the court may order the representative of a decedent's estate to pay the
claims against the estate, as provided in Section 18-13.  If it appears
that there are sufficient assets to pay all claims against the
estate the court may order the representative to distribute the estate
to the persons entitled thereto.
(b) Unless otherwise provided by the will, if the estate of a
testator is insufficient to pay all legacies under his will,
specific legacies shall be satisfied pro rata before
general legacies, and general legacies shall be satisfied pro rata, without
any priority in either case as between real and personal estate.
(c) If real or personal estate which has been specifically bequeathed
is sold by the representative, the other legatees shall contribute to the legatee
whose legacy has been sold, so as to accomplish abatement and equalization
as provided in this Section.  The court shall determine the amount of the
respective contributions, the manner in which they shall be paid, and whether with
or without security.
(d) On final distribution of an estate, payments made from
principal or income shall be accounted for as provided in Sections 5 and
6 of the
Principal and Income Act.
(Source: P.A. 84-395.)
(755 ILCS 5/24-4) (from Ch. 110 1/2, par. 24-4)
Sec. 24-4. 
		
		Distribution before the expiration of the period when
claims are barred.)  (a)  If it appears that there are sufficient assets to pay
all claims against the estate of a decedent, the court may order the
representative to pay the distributive share to a distributee before
the expiration of the period when claims are barred under Section 18-12
if the distributee
gives bond payable to and for the indemnity of the representative in double
the value of the distributive share to be paid, with surety to be approved by the court,
conditioned to refund the due proportion of any claim entitled to be paid from the
estate distributed together with the expenses of recovery,
including reasonable attorneys' fees and additional expenses of administration.
(b) If at any time after payment of a distributive share
it becomes necessary for all or any part of the distributive share
to be refunded for the payment of any claim entitled to be paid from the estate
distributed, upon petition of any interested person the court shall order
the distributee to refund that portion of his distributive
share which is necessary to pay the claim.  If there is more
than one distributee, the court shall apportion among the distributees
the amount to be refunded according to the amount received by each of them,
but specific and general legacies need not be refunded unless the
residue is insufficient to satisfy the claims entitled to be
paid from the estate distributed.  If a distributee refuses to
refund within 60 days after being ordered by the court to do so and upon
demand, the refusal is deemed a breach of the bond and a civil action
may be maintained by the representative against the distributee and the surety or either
of them for the amount due together with the expenses of recovery, including
reasonable attorneys' fees. The order of the court is evidence of the amount due.
(Source: P.A. 84-395.)
(755 ILCS 5/24-5) (from Ch. 110 1/2, par. 24-5)
Sec. 24-5. 
		
		Distribution on presumption of death - deposit in court or
in depositaries.)
(a)  Before distribution is made to a distributee of the estate of a person
presumed to be dead, the distributee or someone for and on behalf of the
distributee must give bond payable to the people of the State of Illinois in double
the value of the distributive share to be paid, with surety to be approved
by the court, conditioned to refund to the person presumed to be dead, if alive, or to
any other person lawfully entitled thereto, the share received by the distributee.  The
bond may provide that it is binding on the surety for a period of not to exceed
10 years from the date thereof, but the release of the surety at the expiration
of the 10 years does not release the distributee from liability to
refund the distributive share received by him.
(b) In any case where funds have been deposited pursuant to the order of any court
in the office of the county treasury or any other depositary for the benefit
of any person
and have there remained for a period of 20 years or more without lawful claim being made
therefor, the funds are thereafter distributable to the heirs or legatees of
such person under the presumption of death testate or intestate, as
found by any court of competent jurisdiction, upon the entry
into bond by each distributee, without surety, conditioned to refund
on demand, to the presumed decedent, if alive, or to any other person lawfully
entitled thereto, all money and other property or assets received by the distributee
as heir or legatee; and in all cases of distribution there shall not thereafter
be any recourse
to, or liability on the part of the treasurer, depositary or any representative
or officer of court.
(Source: P.A. 79-328.)
(755 ILCS 5/24-6) (from Ch. 110 1/2, par. 24-6)
Sec. 24-6. 
		
		Filing of bond.)  After approval by the court, the bonds
provided for in Section 24-4 or 24-5 of this Act must be filed with the clerk of the
court.
(Source: P.A. 79-328.)
(755 ILCS 5/24-7) (from Ch. 110 1/2, par. 24-7)
Sec. 24-7. 
		
		When estate does not exceed surviving spouse's award.)
If it appears to the court that the value of the real and personal estate of
a decedent after payment of 1st class claims does not exceed the amount of the surviving
spouse's or child's award, or both, the court shall order the representative to deliver
the personal estate to the person entitled to the award and
discharge the representative.  The order operates to vest the person entitled to the
award with complete title to the personal estate.  The person entitled to the
award is liable only for unpaid 1st class claims against the
estate to the extent of the personal estate so delivered to that person.
(Source: P.A. 79-328.)
(755 ILCS 5/24-8) (from Ch. 110 1/2, par. 24-8)
Sec. 24-8. 
		
		Accounting to distributee.)  If a representative has taken
possession of all or a part of the estate of the decedent and refuses
or fails to pay the claims, to account or to pay the distributive share
to any distributee including a co-representative who is entitled
to a distributive share, after being ordered to do so by the court, the
distributee may maintain an action for an accounting and to recover the
proportion of the estate belonging to or due him.
(Source: P.A. 79-328.)
(755 ILCS 5/24-9) (from Ch. 110 1/2, par. 24-9)
Sec. 24-9. 
		
		Reopening estate.)  If a decedent's estate has been
closed and the representative discharged, it may be reopened to permit the
administration of a newly discovered asset or of an unsettled portion of the
estate on the petition of any interested person.  If the petition asks the
appointment of
the former representative or a successor designated by the will, the court may
order such notice of the hearing on the petition to be given to any
interested persons as it directs or the court may hear the petition without
notice.  If the
petition asks the appointment of a representative other than the one who was acting
when the prior administration was completed or a successor designated by the
will, notice of the hearing on the petition must be given as the court directs
to the former representative and to all persons entitled either to
administer or to nominate a person to administer equally with or
in preference to the petitioner.  No notice need be given
to any person who personally appears at the hearing or who
files his waiver of notice.  On the hearing, the court
may vacate the order of discharge or issue letters of office
as the case requires.  A new bond based on the value
of the newly discovered asset or the unsettled portion of
the estate and limited to the administration thereof must be
furnished as provided by this Act.
(Source: P.A. 79-328.)
(755 ILCS 5/24-10) (from Ch. 110 1/2, par. 24-10)
Sec. 24-10. 
		
		Interest on property withheld by representative of decedent's
estate.)  At the expiration of a period of 2 years after the issuance of letters
of office in a decedent's estate, the representative shall be charged
with interest at the rate of 10% per year on the fair
market value of all the personal estate which has come into
his possession or control and has not been properly paid out
or distributed, except for good cause shown.  The interest
shall run from 2 years after the issuance of letters or
if personal estate comes into his possession or control
subsequent to 2 years after the issuance of letters,
interest on the subsequently acquired personal estate runs from 6
months after such personal estate comes into his possession or control,
except for good cause shown.
(Source: P.A. 79-328.)
(755 ILCS 5/24-11) (from Ch. 110 1/2, par. 24-11)
Sec. 24-11. 
		
		Duty to account - ward's estate.)  (a) The representative
of a ward's estate shall present a verified account of his administration
to the court which issued his letters within 30 days
after the expiration of one year after the issuance of letters or within
such further time as the court allows; within 30 days after the
termination of his office or within such further time as the court
allows, and whenever required by the court until the office is
terminated; provided however, if no time is set by the court, the
representative shall present a verified account within 30 days after the
expiration of 3 years from the date of the preceding account or within such
further time as the court allows.  The account shall state the receipts
and disbursements of the
representative since his last accounting and all personal estate which
is on hand, and shall be accompanied by such evidence of the
disbursements as the court may require.  On every accounting the court
may require the representative to produce satisfactory evidence that he
has in his possession or control the personal estate shown by the
account to be on hand.
(b) If the estate of a ward is derived in whole or in part from
payments of compensation, adjusted compensation, pension, insurance or
other similar benefits made directly to the estate by the Veterans
Administration, notice of the hearing on any account filed in the ward's
estate and a copy of the account must be given to the Veterans'
Administration Regional Office at least 10 days before the hearing.  If
notice of the hearing on any
account except the final account of a representative is served at least
10 days before the hearing on the account and the court appoints a
guardian ad litem to represent the ward at the hearing, in the absence
of fraud, accident or mistake the account as approved is binding upon
the ward.  Notice of the hearing on any final account of a
representative must be given to the ward if he is living and to such
other persons and in such manner as the court directs.
(c) On final settlement of the estate of a ward or sooner if the
court directs, the representative shall pay and deliver the estate and
title papers of the ward in the hands of the representative or with
which he is chargeable to the person entitled thereto.
(Source: P.A. 84-494.)
(755 ILCS 5/24-12) (from Ch. 110 1/2, par. 24-12)
Sec. 24-12. 
		
		Termination of office of a representative of a ward.) The
office of a representative of a ward terminates when the ward if a minor
attains his majority, when the letters of a representative are revoked,
when the representative dies or, subject to Section 24-19, when the ward
dies.  The marriage of a minor ward terminates the right of the minor's
guardian to the ward's custody and education but not to the minor's estate.
(Source: P.A. 80-1364.)
(755 ILCS 5/24-13) (from Ch. 110 1/2, par. 24-13)
Sec. 24-13. 
		
		Accounting for a deceased
representative or a representative under legal disability.)  If a representative
dies or is adjudged to be under legal disability or
is adjudged a person subject to involuntary admission or meeting the standard
for judicial admission under the Mental
Health and Developmental Disabilities
Code before he is discharged, the surety on his bond or his
representative or any of his heirs or legatees may present an account in
his behalf.
(Source: P.A. 83-706.)
(755 ILCS 5/24-14) (from Ch. 110 1/2, par. 24-14)
Sec. 24-14. 
		
		Accounting by surety on bond of representative.)  If the
letters issued to a representative are revoked and he fails or refuses to
file an account within the time fixed by the court, the surety on his
bond may present an account in his behalf.
(Source: P.A. 79-328.)
(755 ILCS 5/24-15) (from Ch. 110 1/2, par. 24-15)
Sec. 24-15. 
		
		Stating an account.)  The court may state an account on behalf
of a representative who dies or is adjudged to be a person under legal
disability and on whose behalf
an account is not presented to the court within 60 days after the death or adjudication
or who fails or refuses to present an account as required by law.  When entered
of record the account is binding and conclusive against the representative and the
surety on his bond.
(Source: P.A. 83-706.)
(755 ILCS 5/24-16) (from Ch. 110 1/2, par. 24-16)
Sec. 24-16. 
		
		Citation - attachment.)  (a)  If the representative fails or refuses
to make settlement within 30 days after the expiration of the time provided by this
Act, the court may order a citation to issue directing the respondent to
appear on the return
day designated in the citation and to make settlement of the estate or to
show cause why settlement is not made.  The citation must be served not less than 10
days before the return day designated in the citation and be served and returned
in the manner provided for summons in civil cases.  If the respondent appears
in court on the return of the citation and fails or refuses
to make settlement within the time ordered by the court or to show cause
why settlement is not made, he may be dealt with as for contempt and may
be removed as representative.
(b) If after being served with the citation, the respondent fails to
appear before the court on the return day designated in the citation,
the court may order an attachment to issue requiring the sheriff to bring the body
of the respondent before the court forthwith.  If after having
been so attached, the respondent fails to make settlement
under the order of the court he may be dealt with as for
contempt and may be removed as representative.
(c) If a representative fails or refuses to pay any money or deliver
any property to a person entitled thereto in pursuance of the lawful order of the
court within 30 days after demand therefor is made upon the representative,
except for good cause shown, on the petition of any interested party or
on the court's own motion, the court may order an attachment
to issue requiring the sheriff to bring the body of the
respondent before the court forthwith and may commit him to jail
until he complies with the order of the court or until he is discharged by due
course of law and may remove him as representative.
(d) The costs of the citation and attachment shall be paid by the delinquent
respondent and the court may enter judgment therefor.
(Source: P.A. 79-328.)
(755 ILCS 5/24-17) (from Ch. 110 1/2, par. 24-17)
Sec. 24-17. 
		
		Devastavit.)  The failure or refusal of a representative
to pay any money or deliver any property to the person entitled thereto
in pursuance of the lawful order of the court within 30 days after
demand therefor amounts to a devastavit and an action upon the representative's bond
may be forthwith instituted and maintained.  The failure or refusal to pay or
deliver is sufficient breach of the condition of the bond to authorize a
recovery thereon against the representative and his surety, or either.
(Source: P.A. 79-328.)
(755 ILCS 5/24-18) (from Ch. 110 1/2, par. 24-18)
Sec. 24-18. 
		
		Liability for mismanagement.)  A representative
and the surety on his bond are liable to a successor representative,
to a co-representative or to any person aggrieved thereby for any
mismanagement of the estate committed to his care. The successor
representative, the co-representative or the person so aggrieved
may institute and maintain an action against the representative
and the surety on his bond for all money and property which have
come into his possession and are withheld or may have been wasted,
embezzled or misapplied and no satisfaction made therefor.
(Source: P.A. 79-328.)
(755 ILCS 5/24-19) (from Ch. 110 1/2, par. 24-19)
Sec. 24-19. 
		
		Administration of deceased ward's estate.)  (a) Without
order of appointment and until the issuance of letters testamentary or of
administration or until sooner discharged by the court, a representative of
the estate of a deceased ward has the powers and duties of an administrator
to collect.
(b) When 30 days or such further time as the court allows have elapsed
after the death of a ward, letters of administration may be issued to the
person who was guardian of the estate of the deceased ward upon his
petition therefor, unless a petition for letters has theretofore been
presented to the court of the proper county, in which case the court shall
first dispose of the pending petition before issuing letters to the
representative.  If letters of administration are issued to another on a
petition filed, letters may not be issued to the person who was guardian.
(Source: P.A. 85-692.)
(755 ILCS 5/24-20) (from Ch. 110 1/2, par. 24-20)
Sec. 24-20. Deposit of unclaimed money. Before July 1, 2024, when the receipt of a
ward, a distributee of an estate, or a claimant
cannot be obtained for money or any other asset of the estate, the
representative by leave of court may sell the asset and deposit the net
proceeds together with any other money of the estate belonging to the ward,
distributee,  or claimant with the county treasurer of the county in which the
estate is being administered.  The representative shall notify the county
treasurer in writing of the identity of the persons entitled
thereto and, if known, their last known post office address.  The
county treasurer shall give the representative a receipt
therefor which shall be filed in the court.  The person entitled to the
money so deposited may obtain it, plus interest at a rate equal to
the average interest rate on 3 month United States Treasury Bills issued during
the time the money was on deposit, upon application to the court and
satisfactory proof of his right thereto.
On or after July 1, 2024, when the receipt of a ward, a distributee of an estate, or a claimant cannot be found, the representative shall report and remit the share of the missing person to the State Treasurer for disposition under the Revised Uniform Unclaimed Property Act.
(Source: P.A. 103-148, eff. 6-30-23.)
(755 ILCS 5/24-21) (from Ch. 110 1/2, par. 24-21)
Sec. 24-21. Deposit or investment of money of a ward, subject to
court order.
(a)  If the estate of a ward consists only of money, on
the petition of the representative of the estate or of the
representative of an estate of which the ward is a legatee or heir, or
of any other interested person, or on its own motion, the court may, if
it appears practicable and to the best interests of the ward to do so,
order the money (1) deposited in a bank to the credit of the ward at
interest or otherwise but, unless otherwise authorized by the court, only
to an amount not exceeding the amount for which it
is insured by the Federal Deposit Insurance Corporation, or (2)
deposited in any state or federal savings and loan association but, unless
otherwise authorized by the court, only to an
amount not exceeding the amount for which it is insured by the Federal
Savings and Loan Insurance Corporation, or (3) invested in United States
obligations and deposited for safekeeping for the account of the ward in
a bank or trust company qualified to accept and execute trusts in this
State, or with the Secretary of the Treasury of the United States or in
a Federal Reserve Bank or in such other agency as may be designated by
the Secretary of the Treasury, or (4) invested in shares of any state
or federal credit union to the credit of the ward at interest or otherwise
to an amount not exceeding the amount for which said shares are insured
as required by The Illinois Credit Union Act or the Federal Credit Union
Act, as applicable, or (5) deposited in a qualified tuition program under Section 529 of the Internal Revenue Code.  The receipt of the bank or trust company
constitutes a voucher for accounting purposes.  Amounts deposited pursuant
to clauses (1), (2) and (4) herein, in excess of the amount
insured by the United States or any agency thereof shall be secured by a
surety bond taken from a surety authorized to transact business in this
State in such sum, under such conditions and with such security sufficient
to save the estate from loss.
(b) If a representative of the estate has been appointed for a ward,
the court may direct the representative to file a final account and
excuse him from further duty and release him and the sureties on his
bond, until further order of court.
(c) On the petition of the spouse, parent or person standing in loco
parentis to or having responsibility for the custody or support of the
ward, the court may order any money so deposited or invested to be
withdrawn and used for the comfort, support, education or other benefit
of the ward or his dependents.  The petitioner shall appear in open
court unless his appearance is excused by the court and shall furnish
such evidence of the necessity for the withdrawal as the court may
require.  The bank of deposit or agency for safekeeping shall be
released in making payment or delivery (1) in accordance with the order
of the court, (2) directly to the ward upon his attaining legal age or
restoration, as the case may be, or (3) directly to the representative
of the ward in case of his death, and in any such case it may not be
required to see to the application or disposition of the funds or
property.
(Source: P.A. 102-189, eff. 1-1-22.)
(755 ILCS 5/24-22) (from Ch. 110 1/2, par. 24-22)
Sec. 24-22. 
		
		Interest of administrator of veterans affairs.)  The interest
of the Administrator of Veterans Affairs in the estate of a ward shall be limited
to that part of the estate, invested or uninvested, which is derived from payments
made directly to the estate by the Veterans Administration.  When a part of the
estate of a ward is derived from sources other than the Veterans Administration, it is
presumed that authorized or approved expenditures made under Section 11-13
are made first out of receipts from the Veterans Administration unless it appears
otherwise from the order of court authorizing or approving the expenditures.
(Source: P.A. 79-328.)