Many people in Will County and Kankakee County want to leave their fortunes to their loved ones despite their faults. Realistically, though, they may be worried that a loved one may receive an inheritance only to have it taken by their creditors. In other cases, the...
FRANKFORT LAW BLOG
How long does the automatic stay remain in effect?
One of the benefits of filing for bankruptcy in Illinois is the automatic stay, which will be automatically ordered after the bankruptcy petition is filed. It is an injunction against the person's creditors ordering them to cease all collection activities and stop...
Bankruptcy might help with recently amassed medical debt
In Will County, throughout Illinois and across the United States, people have been forced to adapt to a radically changed set of circumstances personally and professionally. For many, that has meant job loss, reduced income, an altered family dynamic and recovering...
What factors are important to alimony in Illinois?
Ending a marriage can be hard for many reasons, but concerns about financial stability can be a serious inhibitor to seeking divorce for those who are dependent on their spouses for income. When preparing to divorce, a party may wish to seek alimony, also known as...
Illinois dog bite claims
Many people welcome a dog into their home and gladly take on the responsibility of walking, feeding and other general care of their pet. In Illinois, animal owners are also responsible if their dog bites a person. Animal owner is defined as anyone who owns, keeps or...
Fighting back when creditors violate your rights
Bankruptcy offers a much-needed solution for many Illinois consumers who need to get a fresh start. Debtors who attempt to file alone may find creditors try to take advantage of them by attempting to collect. An experienced bankruptcy attorney can help by utilizing...
Planning for estate planning tax exemption limits
While planning your estate in Illinois, knowing about federal estate and gift taxes can help you maximize your annual exclusion limits. Donating to charity, using the annual exclusion and starting a grantor-retained annuity trust offer a few potential solutions....
Modifying child custody agreements in Illinois
What a couple with children breaks up, one of the first issues they must address is the issue of child custody. A child custody agreement will generally address all aspects relating to the care of the child, specifying living arrangements, parenting time and...
What to know about Illinois bankruptcy exemptions
Bankruptcy gives debtors in Will County, Illinois, a fresh start, but some consumers hesitate filing because they fear losing everything. In some cases, they are required to relinquish property, but that depends on the type of bankruptcy. Illinois bankruptcy codes...
Understanding the Illinois estate tax
The federal estate tax is widely misunderstood. That goes double for the Illinois estate tax. In this post, we will give a brief introduction to both taxes. First, let's define our terms. After a person's death, all their assets and debts become known as their estate....