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When circumstances change in your life, you should update your will. These include the birth/adoption of a new child/grandchild, divorce/marriage, new laws, purchase/sale of assets, a change of mind about a beneficiary and death in the family. This guide discusses how...
When going through a divorce with children in Illinois, you will file a petition for allocation of parental responsibilities. So, is this a new process for divorcing parents? No, this is what was formerly referred to as custody. This guide discusses it in depth: What...
Change is just part of life in Illinois, but people generally make decisions based on their current circumstances as it is very hard to predict the future. This is true for people’s estate plans. They may create an estate plan when they are relatively young, but when...
When people are creating a will in Illinois, there are many decisions they need to make. The main decision people need to make when creating a will is who will receive their property when they pass away. However, if people have young children, they will also need to...
There are a lot of options when creating an estate plan. While that means that you have the flexibility to create the estate plan that’s right for you, your estate, and your heirs and beneficiaries, some people find the menu of options overwhelming. As a result, some...
When you are planning your estate, you will likely choose someone to serve as agent in your power of attorney. The natural choice may seem to be your spouse. But there are some reasons why you may want to choose someone other than your spouse to serve as your agent...
People in Illinois have different types of property and have money in various types of accounts. They can use their property and money how they wish while they are living, but they cannot take it with them when they pass away. If people want to be able to control who...
There is a persistent myth that bankruptcy filers have to sell everything they own. As such, once a person reaches the conclusion that they will likely need to file bankruptcy, they think it is time to start gifting their stuff away. This is because of the mistaken...
For those who are not familiar with the subject, estate planning can feel overwhelming. It can be difficult to understand trusts, in particular, as these tools come in so many forms. You may not know what type of trust you want, and so you don't know where to begin....
When you go through a divorce, it’s understandable that estate planning won’t be your top priority. But when the time comes, it’s important to turn your attention to your will, because the divorce can have an impact on what you have previously executed Revocation upon...