QUESTION

How do I do a transfer of deed if I have three sons?

Asked on Jun 27th, 2021 on Estate Planning - Illinois
More details to this question:
I have three sons and the last one has lived in this house all his life and I still want him to live here after I die as long as he wants to, but if he decides to sell then he needs to give each of the other boys a portion. How do I go about doing that?
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1 ANSWER

Wills Attorney serving Austin, TX
2 Awards
Ask a local probate attorney whether Illinois has a transfer on death deed and, if so, transfer the deed not to your son directly but to a trust which will allow him life time occupancy but, when he abandons the property, divide the proceeds ot any sale among him (or his estate) and your other two sons.  Note that (1) you must create a trust and have a trustee other than this son and (2) you may want to incorporate a special provision for any spouse or minor children who remain behind, whether because your son has died or because he has entered an assisted living or nursing facility.
Answered on Jun 28th, 2021 at 5:24 AM

This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.

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