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...
Estate planning is essential to protect your assets and ensure your wishes are honored after your passing. Many people wonder whether they need a will, a trust, or both. In Illinois, having both a will and a trust can provide comprehensive protection for your estate....
When a family member or loved one passes away, their estate is overseen by an executor. As the person responsible for managing the distribution of assets to heirs and several other duties, the executor owes a fiduciary duty to the estate beneficiaries. This means...
As a divorced parent, the well-being of your child means everything to you. The law, on the other hand, provides for both parents a chance to maintain a relationship with their child. However, this may not be tenable in all cases, and sometimes, you might feel the...
When we reach our elder years, we may find that our health is declining and our ability to care for ourselves is fading. A nursing home or long-term care is needed by many in their later years, making it a possible future to prepare for. As such, addressing this in...
Now that you have decided to move forward with the estate planning process, you should familiarize yourself with the basics. Creating a will is an essential document in your estate plan; however, it is important to note that a will alone may not be enough. There are...
