Estate of Henry v. St. Peter's Evangelical Church

William Henry willed his 119-acre farm to St. Peter’s Evangelical Church (St. Peter’s), subject to a life estate. Henry died, and the administrator of his estate, Farmer’s National Bank of Prophetstown, filed a petition to sell St. Peter’s remainder interest in the property. The trial court found that the sale was necessary for the administration of the estate. The court ordered the sale at public auction, using a valuation method set out in section 15(b) of the Principal and Income Act (760 ILCS 15/15(b) (West 1992)) (Act) to determine its value. We affirm.

In his will, William Henry devised…