Illinois Executor

I have a question about Illinois laws regarding estates. I have gotten two different answers from attorneys and don’t know which is right.

I am the executor of my mothers estate when the time comes. There are three daughters total. The estate is to split 3 ways – I have been limited to a 500.00 out of pocket expense for acting as the executor, which is fine. Over the years I have been given money by my mother – and I promised my sisters that we would settle this all at the time of my mothers death and it would all be taken into consideration when the proceeds get split. The gifts to me would be treated as advancements rather than gifts.

One attorney told me that for example if her actual cash value was for example 300,000.00 and her advancements to me were 10,000.00 then the total estate would be settled on a 310,000.00 basis – as if the advancements never happened – so that would mean that 310,000.00 would be the 3 way share – 103,333.33 for both of my other sisters and then since the actual cash available is only going to be 300,000.00 I would take away what was left after my two sisters part gets paid to them – which would be the 300,000.00 actual cash less 103,333.33 two times – which would end up leaving me with 93,333.34

ANOTHER attorney told me that we would split the estates actual cash value and then I would pay my sisters 5,000.00 each – which would essentially leave both of my sisters with 105,000.00 and me with 90,000.00

I am actually talking about a more substantial estate here but for simplicity sake I used the 300,000 figure.

I have already stated in emails to both of my sisters that these monies given to me as gifts are going to be treated as advancements. My mother knows nothing about this and I really wouldn’t have to do this if I didn’t want to be fair. There is nothing in the will that states anything about any gifts or advancements being taken into consideration but I want to fair to my sisters and just want to also be fair to myself.

Which way is more commonly done ?