Posted on February 04, 2021 in Estate Planning

Estate planning can be a complex matter, with state and federal laws to consider, but the initial steps do not have to be complicated. In fact, almost anyone can complete an effective estate plan with the right mindset and good advice from an experienced estate planning attorney. While some estates are more complicated than others, there are basic concepts that apply to virtually every situation.

Know Your Assets

From your real estate property, to the remainder of your retirement plan, to your beloved baseball card collection, it is crucial that you know what you own before you start the estate planning process. Start by gathering detailed documents for all of your financial accounts, including bank accounts, savings bonds, and retirement accounts, as well as your real estate, vehicles, and other large assets. Then make a list of family heirlooms and property that may have value. If necessary, have items appraised so that you know how much you are leaving to each of your heirs.

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 Posted on February 04, 2021 in Divorce

When it comes to health complications, divorcees have the odds stacked against them. In fact, studies have linked divorce to everything from weight gain and depression to an increased risk of experiencing a heart attack. Granted, an increased risk does not mean you will experience a stroke, nor does it mean you should avoid divorce if it truly feels like the right path for your life. However, it does suggest that divorcees should know how to protect their health and mitigate against the risks.

Examining the Possible Link

Nearly anyone who has endured divorce can tell you it is an emotionally, mentally, and sometimes even physically trying experience. Thankfully, the stress usually diminishes over time, but the damage could already be done by the time things calm down. In fact, experts now believe that stress may be the driving factor behind all links to potential heart conditions. It certainly makes sense when you consider what stress does to the body.

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 Posted on January 28, 2021 in Estate Planning

When an Illinois resident dies, his or her estate will often need to go through the process of probate. In Illinois, probate is required to validate and administer the decedent’s will, or to determine that the decedent did not have a valid will in place. Depending on the circumstances, probate can be a long and daunting process, and it may be a source of stress when there are arguments about the estate, but understanding the process can go a long way in helping you through it.

The Role of the Executor or Estate Administrator

During the probate process, an estate executor or administrator manages the assets and debts of the deceased. If there is a valid will, it will usually name the person who will serve as executor. In the absence of a will, the court will appoint an administrator, which will often be the closest surviving family member. Named executors can decline their duties if they are unwilling or unable to fulfill them.

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 Posted on January 22, 2021 in Estate Planning

Estate planning can be simple, but most often, it is a bit more complex than most people realize. Regardless of your situation, the best way to ensure your wishes are known and followed after your death is to have the proper documents in place by creating a will and appropriate trusts with the help of a skilled estate planning attorney. It also helps to know some of the most common mistakes made by those creating estate plans, including:

Failing to Plan at All

The statistics are alarming: more than half of all Americans do not have an existing will. Unfortunately, if you die without an estate plan, your assets will be divided according to the intestate succession laws of Illinois. Not only is it highly unlikely that this will happen according to your wishes, but the process of probate can end up chipping away at-and potentially decimating-the assets you have left behind.

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 Posted on January 21, 2021 in Child Custody

Many of the most important issues that must be resolved during the divorce process are related to the couple’s children, including parenting time, parental responsibilities, and child support. Often, divorcing parents place their children’s best interests as a high priority, and they may even be willing to work together to agree on a parenting plan without the court’s intervention. However, sometimes child-related issues in a divorce can be much more contentious, and the court may enlist the services of a guardian ad litem (GAL) to ensure that all decisions made are in the best interests of the children. If the court has assigned a guardian ad litem in your divorce, it is important for you to know what to expect.

What Does a Guardian ad Litem Do in Illinois?

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 Posted on January 14, 2021 in Child Custody

After your Illinois divorce, you will most likely be spending less time with your children than you are used to, even if you have been granted the larger share of parenting time. Parents whose time is limited to weekends and the occasional weeknight or special occasion may find the aftermath of a divorce to be especially hard. With these limitations on time with your children, it is even more important to make the most of the time that you do have.

Tips for Quality Parenting Time

As you work to make sure that your parenting time is meaningful and to protect your relationship with your children, here are some suggestions that can help:

• Think carefully about your parenting time schedule. One of the best ways to make the most of your parenting time is to ensure that during the time you have, you are able to focus on your children. This starts with considering your schedule and that of your children and working toward a parenting plan in which you are mostly free from work and other obligations during your scheduled parenting time. You may be able to negotiate the schedule with your spouse or make your case in court for a schedule that preserves your relationship with your children.

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 Posted on January 14, 2021 in Divorce

If you are a parent who is considering divorce or you are unmarried and about to become a parent, you probably have questions about child custody. In Illinois, child custody has been replaced by the more modern terms “parental responsibilities” and “parenting time.” Parental responsibilities refer to a parent’s authority to make major decisions about the child’s life such as where the child will attend school. Parenting time, formerly “visitation,” is the actual time that a parent spends caring for his or her child. Parents are asked to outline the allocation of parental responsibilities and parenting time in their “parenting plan.” Parents who cannot agree on parenting plan issues have several options.

Working Out an Agreement with Help from a Family Law Attorney

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 Posted on January 14, 2021 in Wills and Trusts

Many people associate estate planning with death, and as a result, they often miss out on a truly valuable instrument of asset protection and financial management during their lifetime. A great place to begin learning about and utilizing estate planning is what is known as a "living trust." This estate planning resource can allow you greater control over the transfer of your assets to your loved ones when the time is right through a mechanism that bypasses the time and expense of probate. To begin benefitting from estate planning, whether through a living trust, a will, or other tools, work with an experienced Illinois estate planning attorney.

Functions of a Living Trust

Unlike a will or a testamentary trust, which become effective only upon your death, a living trust can become effective while you are living. For many, a primary reason to create a living trust is to protect assets from the probate process. This form of lawful asset protection is accomplished when legal ownership of the assets is transferred from you-the "grantor"-to the trust under the control of a "trustee." The trustee holds the assets in trust for those you who have selected to benefit from them-the "beneficiaries".

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 Posted on January 08, 2021 in Divorce

Drug and alcohol addiction is a huge concern throughout the United States, including in Illinois. Substance abuse problems such as alcoholism and opiate addiction have destroyed thousands of families. Other addictions such as gambling or shopping addictions can also have a devastating effect on a marriage or family. If you are thinking about legally ending your marriage, and your spouse suffers from an addiction, you may be worried about how your spouse’s addiction may affect your Illinois divorce.

Put Your Health and Well-Being First

If you are like many people who are married to a drug addict, alcoholic, or another type of addict, you have probably spent a great deal of time trying to help your spouse. You may have talked to your spouse about getting rehabilitative treatment, attending support groups, or going to counseling for his or her addiction. You likely spent months or years trying to help your spouse beat the addiction. Once you decide to end the marriage, you may need to learn to put yourself first. Divorcing someone with an addiction will likely be an emotionally exhausting experience involving a fair number of legal complications. That is why it is very important to make your mental health and well-being a priority during this difficult time.

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 Posted on January 07, 2021 in Divorce

Finding a new romantic partner and planning a future together is an important step for many people after the stresses of a divorce, and it has the potential to enrich your life in many ways. However, a remarriage is usually not as simple as a first marriage, and there are important matters that you will need to consider before making the decision to move forward. Your remarriage will not only affect your life, but also the lives of your children and even your ex-spouse.

Important Considerations for a Remarriage

The choice to remarry after divorce is personal, and you and your new partner will certainly have your own considerations that factor into your decision. That said, the following three issues are likely to arise in many remarriages, so it is wise to keep them in mind.

1. The effects on spousal maintenance. In Illinois, spousal maintenance payments terminate if the receiving party gets remarried or starts living with a new partner. If you have been receiving spousal support, you should prepare for the effects on your finances when those payments are no longer available. If you are the paying party, however, you should be aware that you may still be expected to pay spousal support even after remarrying.

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