Legal Question in Wills and Trusts in Illinois
Question about inheritances
My father is 79 and has 40 acres of land, which he is leaving to myself and my brother and sister. When he passes, and we inherit the land, should any of us divorce, is the spouse due any part of the land? Also, should my father put it in a trust so as it should stay in the family, is this a permanent status forever, never to be liquidated through the generations? My sister and I are not emotionally tied to the land and would like to sell it, while my brother wants to keep it together. However, if we sold it to him, it is worth far less than if we parcelled it out for sale. thanks
2 Answers from Attorneys
Re: Question about inheritances
1. Your dad might need the land to provide for his old age.
2. Its your dad's land he should parcel it out as he sees it.
3. If you end up inheriting the land, you can do anything you want to with the land
Re: Question about inheritances
The spouse will get nothing.
No non charitable trust can remain in perpetuity.
You can always go to a court to force a sale if it would bring the maximum amount in to the owners.
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