How Can I Name a Guardian For My Minor Children?

How Can I Name a Guardian for my Minor Children?  A major concern most people have when estate planning is what may happen to their minor children if they were to pass away. Who will take care of them, both mentally and financially? It is rightfully a concern and should be planned for in advance... Read more »

Do I Need a Real Estate Lawyer for a Real Estate Transaction in Illinois?

Do I Need a Real Estate Lawyer for a Real Estate Transaction in Illinois?  Illinois is considered a lawyer transaction state for real estate, meaning that lawyers are usually the ones conducting a closing in conjunction with a title company. Some states use other intermediaries to complete a real estate transaction, but not Illinois. Here... Read more »

Illinois Appellate Court Turns the Mortgage Rescue Fraud Act into a Powerful Foreclosure Defense Tool

Illinois Appellate Court Turns the Mortgage Rescue Fraud Act into a Powerful Foreclosure Defense Tool On June 30, 2016, the Illinois Appellate Court, Second District, handed down a decision in the case ALSJ Inc. v. Kurtz, 2016 IL App (2d) 150492. The Defendant, Laura Kurtz, had fallen delinquent on her real estate taxes and sought to... Read more »

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... Read more »

Wells Fargo in Hot Water …Again.

Wells Fargo in Hot Water…Again. You may have seen it. Watching a sporting event, maybe just aimlessly surfing channels to kill some time. Wells Fargo’s new commercial, it does something, it just pulls at your heartstrings. Maybe it’s the appeal to history, maybe it’s the horses, or maybe it’s the idea of a comeback story.... Read more »

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... Read more »

My Parent’s Death Was the Result of an Accident. Do I Need Probate?

My Parent’s Death Was the Result of an Accident. Do I Need Probate? If your parent or spouse lived in Illinois and died due to an accident, a probate matter should be opened if your family intends to pursue the party that caused the accident for a wrongful death claim. Any type of wrongful death... Read more »

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... Read more »

What is a Special Needs Trust?

What is a Special Needs Trust? If you have a loved one who has special needs, then you may have heard about Special Needs Trusts (SNTs). Special Needs Trusts permit you to gift or bequest money to a loved one (via the Trust) without jeopardizing the person’s government benefits. The government benefit that is most... Read more »

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... Read more »