Legal Question in Wills and Trusts in Illinois
My Mom has left her house to her four children in her will. Now someone has told her that if she doesn't create a trust for it, it will go into probate. Is that true?
2 Answers from Attorneys
Unless her entire estate is worth less than $100,000, if she has simply willed her home to her four children, her home will go into probate unless she puts it in some sort of trust.
Her home will probably go into probate unless she uses a Trust, regardless of the amount of her Estate. In certain circumstances, a title company may provide a method to transfer the property without probate, but they would charge a premium of at least 1-2% of the purchase price to do so (which would probably be more expensive than simply arranging for a Trust). Feel free to call me and we'll discuss some options.