Legal Question in Real Estate Law in Illinois
Creating a Will
Spouse & I are making a will for 1st time(married 6yrs). Concerns are if husband & I pass at the same time.We have 1 home (in husbands name only) problem we have is, this is related living home where husbands mother 81 lives(not named on house). Husband has numerous siblings with no real interest in this property(at this time). Wife has 3 children which will evenually inherit everything. Need to have proper way to make well so everyone is protected, mostly 81 yr old mother who needs to stay in the house. And that wife's children will realize what they will be entitled to after mother is gone but not be taken over by husbands siblings.
3 Answers from Attorneys
Re: Creating a Will
You need estate planning AND a will. At first impression, I would think the creation of a Family Trust would be beneficial re: your situation. You could call me or another lawyer.
Re: Creating a Will
You need to set up a land trust with those provisions.
Re: Creating a Will
There are a variety of ways that you can accomplish what you are seeking.
A living trust is one way, a life estate in the property is another. You should contact an attorney to discuss your situation.
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