While engaging in the estate planning process, you’re probably focused on what you can do to position your loved ones for success. That’s a good thing, as it constitutes a major part of your estate plan. But as you create your estate planning strategy you can’t...
Discussing estate planning with aging parents can be difficult due to emotional challenges, their fear of losing control and family dynamics. However, having this conversation can prevent misunderstandings and promote respect for their wishes. Here are ways to...
Drafting an estate plan is crucial for all adults. However, some changes in the circumstances of one's life increase the criticalness of estate planning. And one of those changes is having a child. As a new parent, you should draft an estate plan that protects your...
Divorce can be a financial challenge, especially when one spouse has racked up debt in the other's name. This situation often leaves the innocent party feeling betrayed and worried about their financial future. While Illinois law treats marital debt as a shared...
People in different circumstances require different types of support. Estate planning can be as much about comfort during retirement as it is about ensuring that an individual leaves behind a meaningful legacy. Proper estate planning can include Medicaid planning....
When planning your estate in Illinois, you might think you have complete control over who inherits your assets. However, the state's elective share law can significantly impact your plans, especially if you consider disinheriting your spouse. This law aims to protect...
There are numerous hurdles to negotiate when co-parenting and Christmas can throw up several. One relates to gift-giving. You may have more to spend on your children this Christmas than their other parent does. Is it OK to just go ahead and buy whatever you please? Or...
When estate planning, you might focus solely on what happens to your assets after you pass away. However, consider adding a living will to your estate planning toolkit. This vital document could provide guidance and peace of mind during challenging times. What Is a...
There has been an increase in the number of couples over the age of 50 divorcing. Also referred to as "gray divorce," this can significantly affect individuals in later stages of life. Why does gray divorce happen? It is important to understand the various causes that...
When making decisions about child custody, Illinois courts will always prioritize the best interests of the child. When determining parental responsibilities and parental time, it is necessary to consider the following: Decision-making: Deciding whether both parents...