Legal Question in Wills and Trusts in Illinois

Re: Trusts or Wills which is best

You should have a will, or if you expect to have an estate of a significan value at your death, say at least several thousand dollars, both a will and a trust. The will passes all the assets you own directly at your death through the court probate procedure. Property you transfer to the trust before you die passes without the necessity of probate. While probate has been described as time consuming and expensive, it usually is not as long as there are no disputes in the family. Also, probate has value in that it establishes deadline for various claims, in my opinion. For a full discussion of the differences, and what is reccommended in your particual situation, you should see your own lawyer to discuss the circumstances in complete detail. Call me if you wish, Larry Stein (630) 221-1755.