Legal Question in Wills and Trusts in Illinois
property in will sold
My mother was named as an heir in my grandmother's will. My grandmother states in her will that my mother was to receive some property. After the will was executed, my grandmother sold the property 2 years later and deposited the money in accounts at a bank. These accounts have my mother and her adopted sister as beneficiaries and were in place prior to the selling of the property. The adopted sister is telling my mother that since the property that should have passed to her was sold then she is not entitled to the proceeds of the sale since my grandmother split the money up into various accounts. After my grandmother sold the property, she did not update the will. There was no apparent attempt for my mother to be disinherited. The adopted sister feels that grandmother left her what she wanted her to have and if the proceeds of the sale of property were deposited in accounts jointly and individually held, then that's not her problem. My mom just wants what was entitled to her, the proceeds of the sale. Someone help. It is now going to probate. What will happen?
2 Answers from Attorneys
Re: property in will sold
Since your mother and her adopted sister are named as benificiaries on the accounts they both get one half. This supercedes the will. If you need a lawyer to help you please call for a free consultation.
Re: property in will sold
A will can only leave property that was owned on the date of death, to the beneficiaries.
Therefore, if a specific asset is named in the will, but is not owned on the date of death, there is no asset to leave.
In your posting, you stated that the property was sold and the proceeds were deposited into a bank account.
The money that was in the bank account on the date of death would be left to the beneficiaries in accordance with the directions of the will (or to the named beneficiaries on the bank accounts themselves).
The property, in this case, since it was non-existent, is disregarded.
This answer is based solely on the information you have posted on this website. There may be additional information or documents that should be considered before determining your exact rights. Therefore, this answer should not be considered legal advice and you should consult an attorney who can thoroughly review the issues before advising you (especially since you say that this estate will likely go to probate court).
Good luck to you.
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