What Happens If I Do Not Have a Power of Attorney?

What Happens If I Do Not Have a Power of Attorney?  There are two types of powers of attorney in Illinois, a power of attorney for healthcare and a power of attorney for property. These are both legal documents that can and should be drafted in advance of needing them. They are easy documents to

Is There a Benefit to Doing a Short Sale?

Is There a Benefit to Doing a Short Sale?  Many people falling behind on their mortgages and facing foreclosure wonder whether there is a benefit to doing a short sale versus simply riding out the foreclosure and leaving the home upon eviction. Both options have their pros and cons, and so it is advisable to

What is the Governing Law of Foreclosure in Illinois?

What is the Governing Law of Foreclosure in Illinois? Illinois, like most states, has enacted specific legislation that controls the method of a bank’s foreclosure. The Illinois Mortgage Foreclosure Law of 1987 (IMFL), is Illinois’ version, cited as 735 ILCS 5/15-1101 et. seq. The IMFL is the primary source of law governing foreclosures, and includes

The Dangers of Using a Small Estate Affidavit in Illinois

The Dangers of Using a Small Estate Affidavit in Illinois If you’ve had a loved one pass away and the duty has fallen to you to collect assets and pay outstanding bills, you’ve no doubt heard of a small estate affidavit. Perhaps you went to the bank to access your parent’s bank account to pay