Legal Question in Real Estate Law in Illinois

Eastate Law

Both parents have past in the will the kids are to split the remainds of their retirment funds, is this an inharadence? What is the difference between and inharadence and a benificiary


Asked on 12/02/08, 1:00 pm

1 Answer from Attorneys
Motty Stone Law Offices of Motty Stone

Re: Eastate Law

Heirs take money from a deceased's bank accounts or other assets. The money passes through a will or court order and goes through a process called probate.

Beneficiaries take money from a trust or other account that does not pass through probate. Two common examples are if the parents had a living trust or if their was a life insurance policy.

If you need help sorting out the estate, please feel free to give us a call.

Read more
Answered on 12/03/08, 12:04 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois