Legal Question in Wills and Trusts in Illinois

I'm married, but I had my property before we married. If I die before him I want to leave my property to my 26yr. old daughter. I listed that wish in my will. Does this protect her or should I get a living trust. With a living trust would I be able to refinance?


Asked on 11/17/10, 3:43 pm

2 Answers from Attorneys

Steve Raminiak Law Offices of Steve Raminiak, P.C.

It depends. In Illinois, your spouse can choose to renounce the Will and take 1/3 of the assets that pass through your Will. For example, if you have all of your assets in joint tenancy except for that property, your spouse can "elect" to receive 1/3 of it (if the property passes through your Will).

However, if that property passes through a Trust, your spouse cannot make the same election.

A living trust would likely have no impact on your ability to refinance.

Feel free to call me if you'd like to discuss this further.

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Answered on 11/22/10, 4:12 pm
Gregory Turza Law Offices of Gregory P Turza

There are many ways that the surviving spouse can take assets contrary to your clearly stated instructions. I highly recommend a consultation. www.legacylaws.com.

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Answered on 11/22/10, 5:00 pm


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