Legal Question in Wills and Trusts in Illinois
Wills vs. heir names on titles
My husband is an only child, and my elderly in-laws are both in very poor health. My husband claims he is listed as an owner on their assets - house, car, and bank accounts, and thus there is no need for any ''power of attorney'' paperwork when they pass on. I am sure my in-laws have filed wills but I have never seen them. Their total estate is probably less than $300K. My questions are 1) does having the heir's name on bank accounts and property mean that there will be no probate? 2) Wouldn't power of attorney still be advisable, in case my in-laws become totally incapacitated? 4) would we be liable for medical or other expenses they incur while still living, as my husband is co-owner of their property?
5) since we live in a different state, how can I find a local attorney who is licensed in Illinois? I am very insecure about this situation.
1 Answer from Attorneys
Re: Wills vs. heir names on titles
Your husband's tactic may allow his family to avoid probate; but my experience has been that there often is some inconvenient asset that is overlooked, and probate is still required in spite of the best laid plans. The item that will control what happens in probate is the will, assuming they have wills; and it's time that your son obtained copies of the wills and reviewed them.
Powers of attorney are only valid while the person who has given the power is still alive. So these work best when someone is sick or disabled. Your husband's parents could sign some and then keep them and not give them to your husband until they are needed, if that would make them more comfortable with the idea.
It's hard for us to admit that we are getting on in years and becoming more vulnerable - but it is a loving thing to attend to these issues even if the topic is sensitive.
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