It shouldn’t come as a surprise that divorce is never easy. The emotional, financial and legal ties can be difficult to untangle, especially if you have children. The decisions you make during your divorce process can have lasting consequences. Illinois has specific...
Disputes over an estate plan can fracture family relationships and even lead to costly litigation. Many such disputes arise when beneficiaries are surprised by final decisions. One way to reduce the risk of conflict is by proactively demonstrating testamentary...
Estate administration imposes many responsibilities on personal representatives or executors. They have an obligation to address the financial obligations of the decedent while settling the estate. Identifying certain creditors may be relatively easy. Incoming billing...
The future can be very unpredictable. Right now, you may certainly be able to make all of your own financial, legal and medical decisions. But what happens if you are incapacitated due to Alzheimer’s, dementia, a heart attack, a stroke or another such health...
Most people choose a person to be their child’s legal guardian in the unlikely event that both parents pass away or are otherwise unable to care for their child. This is often done soon after a child is born, and it’s codified in their will. In fact, the birth of a...
Finances rank among the top concerns for couples going through divorce. You worry about dividing assets, maintaining your lifestyle and securing your post-divorce financial stability. While many focus on splitting retirement accounts and property, credit scores often...
You may worry whether your beneficiaries will use what you leave them in your estate wisely -- or whether they might squander it rapidly. As we discussed in a recent post, you can use conditional trusts to exercise some control over this. For example, you might make...
The traditional way to pay spousal support or alimony is by doing it monthly. This makes it similar to child support. If someone is ordered to pay $2,000 per month in spousal support, they write a check to their ex every month. One alternative, though, is to take lump...
Divorce is often one of the most difficult transitions in life, and it can significantly impact how your estate plan is structured. While dividing your property, handling child custody, and negotiating support are usually the main focus, a lot of people forget that...
Handling the estate of a loved one can feel overwhelming. There are often many emotions involved, yet at the same time, you are responsible for important financial and legal tasks. Without good organization, the process can easily become a thorn in the flesh for you...
