My husband (who is disabled with younger onset Alzheimers) inherited, by trust, 2 farms with his 3 siblings. We have copies of the Trustee' Deed - Illinois Statutory. If my husband dies, does his portion go to his siblings? Is there a way to get it put in his living trust, for his portion to go to me and our children?
You need an attorney to advise you on this. Since you live in Illinois, I’m going to suggest you contact Janna Dutton of Dutton Elder Law Associates at 312-899-0950. She is in Chicago, but can help you anywhere in Illinois. I’m sure that a lot depends on the terms of the trust, so when you contact her you should have a copy of the trust papers for the trust that owns the farm. You might also consider whether either of the three siblings (or all of them) could get together and buy out your brother’s interest — after getting a fair valuation, of course. That would probably be easiest. Then you could put the cash proceeds into an account held by your living trust.