Legal Question in Wills and Trusts in Illinois

Re: no will

Money should be put in some kind of trust account, not a joint account.

Money would only be available to you upon his death if there were any left and he stated an intention (in the trust, by way of beneficiary designation) that it go to you.

In a joint account situation you would get nothing on his death.

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Re: no will

Sorry to hear about your Dad. It's great that your aunt cares about him, but you want to be careful that she doesn't take total control of his affairs, and leave you out in the cold.

Generally, when an account is set up jointly, it means it is in joint tenancy with right of survivorship. So if he dies, she gets the entire account. This is true regardless of whether he has a will leaving all his property to you. You should, assuming your dad is able to, and healthy enough to understand the document, consider the possibility of doing a power of attorney for you, or for you and your aunt.

Please feel free to send me an e-mail, if I can be of any help in the future.

Sincerely,

Gerald P. Nordgren

Re: no will

You should be very careful here. Any person with assets needs a will. Furthermore, if the property is sold and put into a joint account with your aunt then it depends on the type of account. Without knowing all the facts, it doesn't sound to good to me.