Legal Question in Real Estate Law in Illinois
Life estate in farm ground questioned.
1/3 share in an undivided 80 acres passes, by Will, to the deceased's four children. The Will provides that if any of the four children is deceased, then that child’s remainder interest passes to his or her children. One of the deceased children, in a divorce settlement, signed over his remainder interest to his now ex-wife, as a life estate only. Now, some 15 years later, the original 1/3 share holder died. Does the divorce settlement trump the Will and does the ex-wife have an interest in the property?
1 Answer from Attorneys
Re: Life estate in farm ground questioned.
You should talk to an estate planning or probate attorney, not a real estate attorney. But most likely, nothing passed to the ex-wife because to be an heir really means nothing since it's only a potential inheritance. It's only after the person with the will dies that anything passes since the decedent could've legally disinherited the heir at any time. So passing along a potential that disappeared upon the "passer's" death probably means nothing. But talk to a probate or estate planning attorney to be sure.
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