What Type of Ownership is Best For My Home? If you are purchasing a home in Illinois this season, you may have been asked how you want the home to be titled. There are many different types of real estate ownership. The major ones are as follows: 1. Sole Ownership. If you are purchasing a
How to Fund a Trust If you have had a trust drawn up for estate planning, it is important that you verify that your trust is properly funded. Ensuring that assets are either in the trust or transfer to the trust upon your passing will help prevent an unnecessary probate and potential tax liability issues.
How To Transfer Car Title After Someone Passes Away For many people, cars can be significant assets of their estate. Upon passing, the family will have to determine how to transfer ownership of the car to a family member or how to sell it as an estate asset. But the process for transferring ownership of
Real Estate Attorneys Beware: Do Not Revoke Prior Powers of Attorney In a real estate transaction in Illinois, it is common practice now for buyers and sellers of residential real estate to name their attorney as power of attorney for property, to execute the real estate transaction on their behalf. This allows for the buyers
Guardianship Arising From Personal Injury Matters Despite vehicles becoming safer, car accidents resulting in death or serious injury are still all too common in Illinois. In 2016, there were over one thousand (1000) deaths from vehicle accidents in Illinois alone. But what is not reported in the statistics are the number of people who are
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