If you own real estate in Illinois, understanding what happens to your property after death is essential for effective estate planning. The outcome largely depends on how your property is titled and whether you’ve taken steps to avoid probate.
Property Title Matters
Your home may be titled in one of several ways:
- Joint Tenancy
- Tenancy in Common
- Tenancy by the Entirety
- Held in a Trust
If you’re the sole owner and the property is not in a trust, it will likely go through Illinois probate court unless you’ve created an estate plan. In many cases, a Transfer on Death Instrument
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