Legal Question in Wills and Trusts in Illinois

Is there any reason to have my folks draw-up a trust? My Dad is 91 and in assisted living. He receives $2000 per month from Social Security. My Mom is 85 and in a nursing home on Medicaid where she will remain for the rest of her life. There is no longer any life insurance; there is about $3200 in the bank. My folks own a condo that has been on the market for 12 months. The condo is listed at $95,000 and is titled under Mom's & Dad's names. There is nothing else in their "estate"; no pensions or CDs, etc. Mom & Dad each have a will and they have established POA for finance and for health. I have POA for finances and for health. We all live in Illinois. If the condo does not sell before they die, will a trust make probate Thank you, Judy


Asked on 2/26/10, 5:39 am

1 Answer from Attorneys
Steve Raminiak Law Offices of Steve Raminiak, P.C.

You have certain options, but all of them are probably somewhat comparable in price. Did an attorney prepare the Wills and Powers of Attorney? If so, perhaps you should ask that attorney for guidance. Make sure that he knows what he's doing. You want to avoid retitling the house if such retitling will make it a non-exempt asset for SSI/Medicaid purposes. Feel free to give me a call to discuss your options. I won't charge for an introductory phone call.

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Answered on 3/03/10, 7:43 am


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