Your standard of living is going to change after a divorce. Lifestyle changes often accompany this. Money doesn’t seem to go as far, for many people. It could be because you are used to living on two incomes, but now you are just living on one. Gender is important...
Estate planning is essential for everyone, but for same-sex couples in Illinois, it involves unique considerations that require careful attention. Although same-sex marriage was legalized in Illinois in 2014, these couples might face specific challenges that are not...
If your spouse files for divorce, you should be served a divorce petition. There are a few ways that they can do this, such as serving you through publication, hiring someone to serve you or simply serving you the papers themselves. After they do so, the paperwork...
As you consider your estate planning options, you might find that certain types of trusts don’t have the flexibility that you want for your beneficiaries. Another type, known as a discretionary trust, could give you the ability to modify asset distribution over time,...
Payable-on-death accounts, such as annuities, life insurance and federal FERS accounts, are designed to transfer assets directly to a named beneficiary upon the account holder’s death, bypassing probate. They are essential to many people’s estate plans because they...
Planning in advance for divorce can be beneficial. You can gather financial information so that your spouse can’t hide assets. You can make plans for the future, such as considering your budget or where you’re going to live. It helps to have paperwork and legal...
It’s taken you decades to build your wealth. Now you’re in the position where you get to decide how you want those assets to be passed down to your loved ones. But if you’re like a lot of people, then you’re worried about how inheritances will be spent. After all,...
If you’re not careful, your divorce can leave you without the financial resources you need to live the life you want. While that includes cutting you short on funds in the immediate aftermath of your marriage dissolution, a bad divorce can also leave you on rocky...
If you’re going to file for divorce, it’s important to know that your state does have residency requirements. Not just anyone can file for divorce in Illinois. They need to have lived in the state for long enough to qualify. These requirements were laid out by the...
A will is a crucial legal document that dictates how your assets are distributed after your death. However, an estate plan is a more comprehensive strategy that includes a will and additional legal instruments to manage your affairs both during your lifetime and after...
