Posted on December 04, 2018 in Divorce

Enlisting children in extracurricular activities builds confidence and opens doors to different interests. Participating in music, sports, or clubs as a child can create lifelong skills and passions.

A break in the family, such as a divorce, can make life feel uncertain for your children, and create conflicts between parents. Perhaps one parent thinks the violin lessons are going nowhere, or horseback riding lessons are too expensive, while the other disagrees.

Here are some divorce tips on how to approach these activities:

Allocation of Parental Responsibilities in Illinois

Parental responsibility (formerly referred to as custody) is separated into different categories in Illinois, including education, extracurricular, medical, and religious. During the divorce, it is up to the parents to create an agreement that addresses the decision-making for these areas. Parents may decide to split up the duties, or work together on each to reach a joint consensus. If parents are unable to agree on how to proceed, it can be decided by court order.

Continue Reading ››

 Posted on November 29, 2018 in Estate Planning

If you have recently decided that it is time to create an estate plan, congratulations! You are one vital step closer to preserving the financial future of your family. However, it is important to understand that, when it comes to estate plans, one size does not always fit all. In fact, using so-called “boilerplate” forms or documents could lead to devastating oversights, as there are many different situations that could require special consideration.

Special Needs Children and Adult Dependents

Children who have special needs are often entitled to government benefits to help ensure that their medical and daily care needs are met. In many cases, these benefits continue well into adulthood. Unfortunately, when parents, siblings, or other family members leave behind an improperly planned inheritance, the benefits available to a special needs individual could be placed at risk. Then, rather than enhancing their lives, the inheritance ends up being spent on their daily needs.

Continue Reading ››

 Posted on November 27, 2018 in Estate Planning

One of the most important decisions in the estate planning process is who will be named as executor of the estate. The executor is the person who is responsible for overseeing and protecting the assets of the deceased person. He or she is responsible for ensuring that the wishes of the decedent are carried out, as well as maintaining any property of the estate until disbursement, settling the debts of the estate, and paying any taxes owed. It is critical for the person who is appointed executor to understand how to manage the estate. If they mismanage estate assets that add up to a loss to the beneficiaries of the estate, they can be held liable for those losses.

Short-Term Responsibilities

Unless arrangements have been made before the person’s death, it is typically the executor’s responsibility to handle the financial arrangements for the deceased’s funeral and burial expenses. The funeral parlor also provides copies of the death certificate to the executor. It is important to obtain several copies of the death certificate since a copy will be necessary in order to access financial accounts and canceling government benefit checks (i.e. Social Security). A copy is also required to be filed with the final federal tax return of the estate.

Continue Reading ››

 Posted on November 27, 2018 in Adoption

Choosing to adopt a child is a life-changing decision for both the child and parent. In terms of adoption, many imagine a couple adding an infant to their family dynamic; however, this is only one form of adoption. Other types of adoption include stepparent, family related, domestic partnership, and uncontested adoptions. Stepparent adoptions are fairly common, and these particular adoptions have their own unique legal process.

The Stepparent Adoption Process

The details of the adoption process are dependent upon each individual situation. Though it is a detail-oriented process that can take time, it often appears more difficult than it actually is. In a stepparent adoption, the following requirements must be met:

1. Illinois Residency: For those seeking to adopt within the state of Illinois, residency is a requirement. The stepparent must be an Illinois state resident for at least six months before filing for the adoption.

   Continue Reading ››

 Posted on November 27, 2018 in Divorce

Did you know married couples with teenage daughters are more likely to get divorced than those without? Still, it is much more than the occasional screams and door slams from a teenage girl that leads to a divorce.

Both male and female teens go through dramatic changes during those years, and divorce can turn things even more traumatic. This change may pile up on everything else they are feeling.

Here are signs to look for that your teenage daughter is struggling with your divorce:

Low Self-Esteem

Teenage girls in general have a reputation for having low self-esteem, but it may not stem from body image or bullying. During a divorce, they may put the blame on themselves for the split, which can add significant stress and pressure. This often transforms into behavior opposite of what one would think a person with low self-esteem would have, such as excessive bragging, doing or saying dramatic things, or bullying others. More obvious signs include avoiding common social situations, eye contact, and communication.

Continue Reading ››

 Posted on November 16, 2018 in Divorce

Thanksgiving starts the holiday season that recently divorced couples sometimes dread. When children are involved, holidays like Thanksgiving that are family based often get complicated. While your parenting plan likely covers holidays and other special dates, that does not mean it will be an easy time emotionally.

Cooking for a large group of people is intimidating enough. Here are some tips for surviving your first Thanksgiving after a divorce:

Always Put Children First

If you feel a little awkward this time of year because of your altered family situation, imagine what your kids feel. They may still be upset about the divorce. Ask them what they think, and try to reassure them about the holidays. Tell them their feelings are okay, do not speak poorly of the other parent, and try to put a positive spin on the situation. Divorced parents might mean two Thanksgivings for them, and twice the pie. No matter how they feel, let them know you are listening.

Continue Reading ››

 Posted on November 14, 2018 in Estate Planning

It is unbelievable that the winter holiday season is already upon us. By this time next week, you will probably be on your way to-or at least preparing for-Thanksgiving celebrations with your family members and loved ones. Just a few short weeks after that, families will be getting together for Christmas. If your family is spread out around the country, the holiday season might be the only time your whole family gets together throughout the entire year. With that in mind, it may be the only opportunity you have to discuss important topics like estate planning.

Being Prepared

There is no question about it: it can be tough to discuss your estate plans. Voluntarily confronting the idea of death can certainly be uncomfortable, but the conversation is important. Discussing your estate plan does not necessarily need to take hours, nor does it need to ruin the fun of the holidays. You have the power to control the conversation and to keep things positive by preparing in advance.

Continue Reading ››

 Posted on November 09, 2018 in Guardianships

When one thinks of being a guardian, the image of a parent taking care of a child often comes to mind. However, guardianships are not reserved solely for parents and their children. According to Illinois law, a guardian is a person, institution, or agency appointed by the Probate Court to manage the affairs of another, called the ward.

Because a person is considered an adult at the age of 18, they typically no longer have a legal guardian after their 18th birthday. However, like most laws, there are exceptions. There are four reasons why an adult would be assigned a legal guardian, all of which surround the adult’s health. The four qualifications for the need of a guardian are mental deterioration, physical incapacity, mental illness, and/or a developmental disability. Depending on the circumstances, there are several different types of guardianships allowed in Illinois.

Types of Guardianships

Continue Reading ››

 Posted on November 09, 2018 in Divorce

Illinois is an equal distribution state, which means when assets are split between two parties in a divorce, the judge determines what is a fair division. This does not mean assets are split 50/50, however, and numerous factors are considered, including:

• Length of the marriage.
• How much each spouse makes.
• Health and age.
• Standard of living.

If the home you and your spouse lived in was marital property, one person will typically be granted the family home. This is usually the spouse who has primary residential care of any children under the allocation of parental responsibilities (formerly called custody). For the other spouse, this means finding a new residence.

Here are some tips for moving from your family and home during a divorce:

Tell Your Children

Talking to your children about your divorce can be the most difficult part of the moving process. You and your spouse should give them enough time to process the idea of one parent leaving, but not so much that they see the unpleasant parts of your split. Reassure your children that although one parent is moving out of the house, they will be loved and supported no matter what.

Continue Reading ››

 Posted on November 06, 2018 in Wills and Trusts

A trust is a fiduciary relationship in which an individual or entity called a trustee controls certain assets for the creator of the trust, called a grantor. An incentive trust arrangement is different from other trusts in that the trustee must follow specific rules set by the grantor regarding when the trust’s beneficiaries can receive funds from the trust. This legally-binding arrangement functions as a conditional inheritance, allowing grantors to encourage their intended beneficiaries to meet certain goals before being awarded their inheritance.

How Can an Incentive Trust Benefit My Family and Me?

Many individuals struggle to manage their finances responsibly. This is often especially true of individuals who acquire a large sum of money quickly, which can become a concerning dilemma for those who wish to leave money and other assets to heirs. For example, a grandparent may wish to leave money to his grandchildren but worry that they will squander their education in favor of frivolous spending. An incentive trust would allow this grandparent to ensure that his grandchildren only receive their inheritance, for example, after completing a higher education program.

Continue Reading ››