Legal Question in Real Estate Law in Illinois
Life estate in farm ground questioned.
1/3 share in an undivided 80 acres passes, by Will, to the deceased's four children. The Will provides that if any of the four children is deceased, then that child�s remainder interest passes to his or her children. One of the deceased children, in a divorce settlement, signed over his remainder interest to his now ex-wife, as a life estate only. Now, some 15 years later, the original 1/3 share holder died. Does the divorce settlement trump the Will and does the ex-wife have an interest in the property?
1 Answer from Attorneys
Re: Life estate in farm ground questioned.
You should talk to an estate planning or probate attorney, not a real estate attorney. But most likely, nothing passed to the ex-wife because to be an heir really means nothing since it's only a potential inheritance. It's only after the person with the will dies that anything passes since the decedent could've legally disinherited the heir at any time. So passing along a potential that disappeared upon the "passer's" death probably means nothing. But talk to a probate or estate planning attorney to be sure.
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