It is. Please read the following: each state is in charge of the method in which property located in that state is transferred. If you own property in another state (or country) then you need to consult with an attorney in that jurisdiction to determine how that property will be transferred to your beneficiaries once you die. Most state laws are similar to Illinois, namely, property held as Joint Tenants with Rights of Survivorship or a Life Estate Interest goes to your beneficiary without the need for probate. If you own property in another state in your name only, or as a Tenants in Common, or if you hold property jointly with your spouse in a community property state, then a probate procedure will need to be held in that state. If it is necessary for your heirs to have probate procedure in Illinois, then they will need an ancillary procedure in the state in which the property is located. This may have the effect of doubling the cost of probate to your estate. Another problem is the matter of taxes. Illinois Estate taxes are tied to the Federal Estate tax. If your estate is too small to pay Federal Estate taxes then you pay no Illinois Estate Tax. This may not be the case with other states, so in addition to paying extra for the second probate procedure, your heirs may be compelled to pay inheritance taxes in the state where the property is located. In such cases, you may wish to consult with an attorney for suggestions about how to set up your estate plan to avoid these problems.
