Amy F. asked

⚖️  Law

My elderly father (80 years old) battled lung cancer 3 years ago and has COPD (emphysema). He is concerned about his property rights and wants to ensure that after his death, the house and his belongings remain family-owned. His current mortgage is $60,000 on a home worth approximately $150-200,000 in the current market. Should one of us (his 9 children) buy the house now, or would it be wiser to set up a trust? The location is Cook County / Streamwood, IL.

September 5th, 2024

Thomas M. answered

For an estate of this size, setting up a trust can be costly, averaging around $3000 for a small tru...

September 5th, 2024

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