The passage of time occurs more quickly than anticipated and unexpected events can arise anytime. Regardless of your level of wealth, you should start an estate plan and have these documents prepared. Power of attorney A durable power of attorney is one of these...
Chapter 7 bankruptcy is a liquidation bankruptcy process. There are different Chapter 7 bankruptcy exemptions that can protect some of the filing party’s property from the process of selling property to repay creditors. Those interested in Chapter 7 bankruptcy...
It is a wise and responsible decision for Illinois residents to have an estate plan. Even if it is a barebones will that details how the person’s property will be distributed at the time of death, it is a key document to have. This is true for people of any age. For...
There are many unexpected events that occur throughout people’s lives in Illinois. Some of these unexpected events can be pleasant surprises and benefit people. This is not always true though. Some of the unexpected events can create hardships for people. It could be...
Filing for bankruptcy can be overwhelming, particularly when an Illinois resident does not understand the process. They may hear terms related to bankruptcy and experience confusion when they attempt to understand what it all means. Readers should understand that the...
The old adage of the only things guaranteed in life are death and taxes continue to be as true today as it ever was before. And, the realities of death have never been more acute than they have been in recent memory. This is why we often get questions from business...
You may have executed what you believe is a comprehensive estate plan including a will, living trust, power of attorney, advance medical directive and other important documents. But just having an estate plan is not the end of the story. There are additional steps to...
The year 2020 was a tough economic time for many in Geneva, especially if they were furloughed or lost their jobs. This financial predicament was only escalated when they acquired a significant amount of medical debt that they have no means of paying back. They are...
Parents experience indescribable and immeasurable joy as their children grow. They shudder at the thought of life without their kids – or of their children’s life without them. No wonder, then, that only 36% of parents with minor children have written a last will and...
Trusts are a potentially valuable part of estate plan to consider and to understand. For that reason, estate planners should be familiar with the benefits of including a trust in their estate and what they do. Advantages of a trust There are a variety of different...
