Legal Question in Wills and Trusts in Illinois
estate planning
Want to make a will. Want son to get house but to share proceeds with daughter when he sells. Would like to bypass probate. I am sole owner now. Best way to do this?
2 Answers from Attorneys
Re: estate planning
It sounds like you need a trust. You will have to contact an attorney who specializes in estate planning to structure the trust properly. If you would like to discuss this, please feel free to call me.
Re: estate planning
Just for the house issue, a will saying whatever you want done...to daughter/son 50/50 or house to be sold and proceeds divided would accomplish what you mentioned. And just for the house issue probate isn't a factor. Probate comes into play if you have more than $100,000 in other personal property and/or financial assets. E-mail or call if there are further specifics you'd like to discuss.
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