Probate is one of those legal processes that are interesting to learn about; however, a Glen Ellyn probate attorney will invariably tell you that it is better to avoid. Perhaps you have heard about probate in relation to late celebrities such as Bob Marley and Aretha Franklin; however, one of the most intriguing cases in the history of this legal practice unfolded right here in Chicago.
Joseph Stancak, an electrician who graduated from Chicago Vocational School during World WII, passed away in 2016 at the age of 87. During his life, Mr. Stancak was a quiet man who did not have children; he was mostly known for his frugal approach to life and dedication to smart investing. He also left behind $11 million in a portfolio filled with stocks, bonds, shares of mutual funds, and cash in bank accounts accruing compound interest.
The few people who got to know Mr. Stancak were not aware he was a millionaire. They certainly knew him as a pennysaver, but they had no idea he would pass away without a will. The $11 million estate had no heirs and no claimants; in the world of probate law, this is known as intestacy, and it often involves a painful process of figuring out how much should be distributed once surviving relatives are tracked down according to Illinois law.
In cases that involve intestacy, probate attorneys can help clients who believe they may have a claim to an estate. In the Stancak case, a law firm was assigned to track his bloodline halfway round the world in Poland, but some cousins in Illinois retained their own probate lawyers to file claims to ensure they weren’t left out.
Find more information about inheritance, probate, and estate planning matters by visiting the website of SBK Law Group, a seasoned Glen Ellyn probate attorney providing services to clients across Chicagoland.
