Favata v. Favata

I concur with the majority’s finding that the July 18, 1975, amendment to the land trust agreement was valid. Under its terms, plaintiff Theresa Marie Favata received a remainder interest in the beneficial interest of the land trust. Remainder interests are present interests and do not violate the statute of wills. (Conley v. Petersen (1962), 25 Ill. 2d 271, 184 N.E.2d 888; Kenoe, Land Trusts §§3.8, 4.6, 4.7 (Ill. Inst. Cont. Leg. Ed. 1978).) Thus, the amendment was not a testamentary disposition. However, I respectfully dissent from the majority’s finding that the August 10, 1976, amendment…