When most individuals think of “estate planning,” their mind immediately turns to documents addressing the death of a person. This belief, however, captures only part of estate planning’s purpose. One of the most significant aspects of estate planning is planning for the incapacitation of an individual. Everyone should have a legal document detailing their wishes …
For anyone who has a child or dependent with special needs, leaving that child unprotected and unprovided for is a nightmare that can result in many sleepless nights for parents. As parents, the ideal scenario is that we teach our children to be self-sufficient so they can take care of themselves – and maybe even …
How Do I Provide for a Special Needs Child in My Will? Read More »
An executor?s job is to carry out the will, meaning he or she?will execute the will and handle the estate of the deceased by carrying out their wishes. This can include paying debts and taxes and distributing the assets to the beneficiaries in accordance to the instructions of the will. It is the responsibility of …
What to Do When an Executor Fails to Carry Out the Will Read More »
So, you have decided to make the biggest financial decision of your whole life by buying an investment property. However, you have concerns about the legal issues that others have had in recent years. Maybe the property is underwater, or the rental income doesn?t cover all of the expenses associated with the property, or maybe …
How to Purchase Investment Property That Has Legal Issues Read More »
The answer to this question, simply put, is no. When it comes to owning property, a married couple has to abide by the same rules that two business partners would, which means you both have to get the other person?s permission to take any action involving your property. Basic Facts Under Illinois law, all property …
Can My Spouse Lease Out Our Rental Property Without My Consent During a Divorce? Read More »
What is Power of Attorney? There are basically two types of Power of Attorney or POA. The first is ?Immediate? and the second is ?Springing?. An “Immediate” power of attorney becomes effective as soon as the person you have designated as capable of managing your financial affairs signs the document in the event you become …
The probate process in Illinois is a legal procedure supervised by the court that is sometimes needed after the death of a loved one. It is used to make it absolutely clear who will inherit the property of the deceased and to make sure that all of their taxes and debts are paid. The executor …
If you have income or property, a Financial Power of Attorney can be an essential tool for you. It is especially important if you are ill and are worried that your illness may hinder you from handling your own financial affairs. Why Should I Sign a Financial Power of Attorney? Signing a Financial Power of …
Most people really don?t like to think about making a will. They don?t like talking about a DNR (do not resuscitate order). And they really don?t like to talk about planning a funeral. But it is advised that ALL people plan for these events, and when you live alone or become terminally ill, these items …
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