Legal Question in Wills and Trusts in Illinois

will vs trust fund

I'm single, never married and no kids. I want to leave most of my estate to my nieces and nephews, but I also want to leave my house to a friend. I do not want anything to go to probate and I would like funds to be available ASAP. Is it better to set up a trust fund or is a will sufficient?


Asked on 4/12/07, 5:17 pm

2 Answers from Attorneys
Joseph Michelotti Michelotti & Associates, Ltd.

Re: will vs trust fund

you want the personal property in an inter vivos trust (living trust) and the real estate in an illinois land trust.

A will guarantees probate.

email me if you hae any other questions

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Answered on 4/12/07, 5:33 pm
Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

Re: will vs trust fund

If you don't want the estate to go through probate then a will is not sufficient. Creating a revocable living trust and funding it would be the way to go.

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Answered on 4/12/07, 5:51 pm


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