My Parents Passed Away. Do I Need to Probate Their Estate? If a parent of yours has recently passed away, you may have heard that you need to do probate. What is probate exactly? Probate is the Court process of collecting a person’s assets and distributing them according to a will, if any, otherwise by
Relocation in Child Custody Hypothetical Nick and Angela* Nick and Angela were married and rented an apartment in Lake County, Illinois. Angela gave birth to a baby girl named Jennifer. Nick fell totally in love with baby Jennifer, but his happiness was somewhat clouded by constant arguments at home with his wife. When Jennifer was
A Foreclosure Auction Has Been Scheduled For My Property. What Do I Do? It can be heart-wrenching to discover that your property is scheduled to be sold at a foreclosure auction. People often become aware of a foreclosure auction when they are actively participating in the foreclosure court case and are provided an official “Notice
Real Estate Transactions in Waukegan Waukegan is a large community in the northern suburbs of Chicago. It resides close to the border of Wisconsin, and is easily accessible from the expressway. Waukegan has many diverse communities within its borders, including ethnic diversity and income diversity. Waukegan is also home to many manufacturing plants and other
What is a Mortgage Loan Modification? If you have a home mortgage and are falling behind on payments, you may have heard of a mortgage loan modification/ home loan modification. A loan modification is an agreement with your mortgage loan servicer to alter the mortgage payments and bring the mortgage current so that you can
What Are the Capacity Requirements to Execute Estate Plan Documents? If you have a loved one suffering from Alzheimer’s, dementia, or cognitive issues related to a stroke, mental illness, or other disorders, it is important to determine whether that individual has the capacity to execute an estate plan. The documents associated with an estate plan
IRS Announces the 2019 Estate Tax and Gift Tax Exemptions The Internal Revenue Service (IRS) has announced the estate tax exemption and gift tax exemption amounts for 2019. The 2019 Federal estate tax exemption will be $11.4 million. The Federal gift tax exemption will remain $15,000 annually for the time being. If your estate is
What is Title Insurance in a Real Estate Transaction? If you are buying or selling real estate you have most likely heard of title insurance. Many people simply know title insurance to be that charge that appears on the closing statement. The title insurance charges are significant, and that is for good reason. There is
How Are Heirs Determined in Illinois? An heir is someone who is legally entitled to receive property upon a person’s death. Every state gets to decide who the natural heirs of a decedent are, and the states will publish their own laws of descent and distribution outlining heirship. The laws of descent and distribution are
The 5 Things to Do If You Are Named Trustee of a Trust If you have been named a trustee of a family member’s or friend’s trust there are many things to know. It is advisable to speak with an attorney to know the full extent of your obligations as trustee. Here are five things