Legal Question in Wills and Trusts in Illinois
Which is the most appropriate document in the State of Illinois (living trust or others) to ensure that if both my wife and I die, our only married son will not have to give up at least half of our property (real estate, 401K, etc.) to his wife should they get divorced?
2 Answers from Attorneys
A properly drafted living trust can achieve such objectives. The retirement plan requires special treatment. Please visit the following link on my website http://www.legacylaws.com/ep_mature_families.html and scroll down to "Protecting your children's inheritance from their divorces, lawsuits, bankruptcy."
If you would like a free consultation please feel free to call the phone number indicated on our website.
A living Trust would be helpful. However, you may have to balance (1) your concern with protecting your son from a divorce from (2) certain tax consequences involved in your 401K. Feel free to give me a call to discuss this further. I won't charge for the phone call.
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