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Illinois Compiled Statutes

755 ILCS 5/24-10 (2026)

Interest on property withheld by representative of decedent's estate

✓ current as of May 2026
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(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.)

    
Notes of Decisions
Cited in 2 cases, 1999–2019 · leading case: In re Est. of Durbin, 2019 IL App (4th) 190199-U (Ill. App. Ct. 2019).
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In re Est. of Durbin, 2019 IL App (4th) 190199-U (Ill. App. Ct. 2019). · cites it 2× “Interest ¶ 39 Section 24-10 of the Probate Act states the following: “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…”
In Matter of Est. of Vail (Ill. App. Ct. 1999). “As relevant to this case, section 24-10 of the Probate Act of 1975 (Probate Act) authorizes charging the estate representative 10% interest per year on the fair market value of all the personal estate that has come into its possession or control and has not been properly paid…”
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