When you use your will to leave someone an inheritance, you don’t have any say in how they use it or what it accomplishes. You’re simply leaving them a specific asset. It becomes their possession after you pass away, and the estate goes through probate. But if you...
Many things change when you go through a divorce. Most people focus on things like how they will have to adjust their finances to live on one income or what changes their children will have to deal with. One thing that you may not consider is how vacations with the...
Many people are not aware of estate planning laws. As a result, a lot of misinformation about estate planning is spread around. It can help to explore common estate planning myths and why these myths are wrong. Here are a few: Myth 1: Estate planning is only for the...
A power of attorney (POA) is a document that lets someone else make decisions on your behalf. In Illinois, there are a few types of POAs, each with a different purpose. Choosing the right one can help protect your health, finances and peace of mind. Below are some...
Creating an estate plan is a critical task for adults. Doing so involves making certain decisions that will make it easier for your loved ones to take care of your affairs when you pass away. Many assets can be handed down to your loved ones through your will and...
Starting over after divorce is difficult. You must adjust to a new way of living and learn to be independent again. Divorce often involves mental and emotional turmoil, but it is important to not neglect practical matters during this time. Often, this means...
Typically, when someone receives an inheritance from their parents or another extended relative, such as a grandparent, it initially counts as a separate asset. It is something that they own individually because that relative distinctly meant to give it directly to...
Choosing an agent for a power of attorney (POA) is a critical decision that requires careful consideration. A POA allows someone to act on another person's behalf in financial, medical or other legal matters if they become incapacitated. Thus, the decision on...
Creating an estate plan is a challenging undertaking because there’s so much to think about. For most people, ensuring that they get their loved ones the best inheritance possible is a priority. Passing assets to loved ones is a priority of most estate plans. This...
Pet owners across Illinois often view their animals as true family members, not just property. You might wonder what would happen to your pets if you couldn't care for them anymore. Illinois law provides several options to ensure your pets receive proper care after...
