Legal Question in Wills and Trusts in Illinois
I own houses with my wife in MO and IL. Do I need to make a will in both states. If NOT in what state should I make a will in?
2 Answers from Attorneys
It depends on what you hope to accomplish. If you simply want to pass the house to the surviving spouse, then properly titling the properties may be enough. If you'd like to provide for distribution beyond the surviving spouse, you may want to consider setting up Revocable Living Trusts (you would only need to do so in one state). RLTs would also allow you to maximize your estate tax exemptions.
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You should primarily use an attorney who practices in the State where you reside (e.g., referenced by your drivers' license, on tax returns, etc.). After that attorney prepares your estate plan, I recommend that you at least talk to an attorney in the other State. That attorney may want to review your estate plan and make suggestions as to that State's law. However, since you live so close to the border, you will likely find that many attorneys in your area practice in both States.