Legal Question in Wills and Trusts in Illinois

inheritance

My father just passed away and left his business to two of his ten children. The business is valued at 4 million dollars. What questions should I ask at the estate meeting regarding how to divide the remaining estate equally. The other 8 children feel it is unfair that only two of his children inherit the business. Can we contest this? If so do we mention this at the estate meeting?


Asked on 5/31/07, 8:47 am

1 Answer from Attorneys

Re: inheritance

I'm sorry to hear of your loss, and the fact that it is being compounded by estate problems.

You will need to have an attorney review the will/trust in order to determine what yours and your sibling's rights are.

There are also other matters that should be considered such as whether your father was competent to make such decisions (was he impaired by medications or dementia, etc.), and whether there was any undue influence involved (someone pressuring your father to make these choices).

When there is a family business involved often times the parent leaves it to the child(ren) having the most direct involvment with it. However, there should be other "equalizers" that allow the other children to inherit other estate assets.

Given the size of the assets involved, I would advise you to consult with an attorney prior to the meeting in order to maintain your rights.

Let me know if I can assist you. Good luck to you.

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Answered on 5/31/07, 10:28 am


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