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The Basics of Estate Planning and a Secure Future

Estate planning is an important milestone and a critical part of our adult life. It is the process of structuring and distributing your assets and responsibilities to your family members for a prosperous and secure future. The process can be complex and difficult to keep track of the documents you may need to complete your estate plan. Knowing the basics can help you navigate through the process and ensure you have made a comprehensive plan to secure the future of your family. As you start to plan ahead for your beneficiaries, you should consul... Read more

Negotiating the Best Spousal Maintenance Terms

Spousal maintenance or alimony is usually negotiated during the divorce settlement and approved by a judge before it comes into effect. The amount is sought to support an ex-spouse who might use it to cover their medical bills, education, rent, or other monetary commitments after a separation. The calculations and conditions for a spousal maintained amount applied as per the Illinois Marriage and Dissolution of Marriage Act (IMDMA) that govern the ground for both the modification, termination and approval of any agreements. Negotiating and gett... Read more

Ways to Avoid a Foreclosure

Due to financial difficulties and hardships, there may be times when we are unable to pay our mortgage payments on time. Submitting payment past due dates on a regular basis or skipping payments not only leads to additional fees – it can also lead to potential foreclosure. When a foreclosure process starts by a real estate developer or bank, the homeowner will have to forfeit all their property rights. All outstanding debts are paid by a foreclosure auction. If you are facing financial difficulties and wish to understand ways to avoid a p... Read more

Dynamics of Post Decree Divorce Modifications

A divorce decree is considered final because it contains both present and future provisions in relation to a variety of matters. However, due to a substantial change in circumstances, there may be a request from one party to revisit the ruling, resulting in a post-decree modification. The provisions defining a divorce and subsequent allocation of assets and parental responsibility are guided by the Illinois Marriage and Dissolution of Marriage Act. Considering the complications behind post-decree modifications after a divorce decree is signed, ... Read more

How Long After Bankruptcy Can I Buy A Home?

If you currently own a home in America, you have fulfilled the American dream. Buying a home is one of the fastest and most effective paths to raise wealth in any country – particularly in the U.S. Buying a house is known as a way to store wealth and a way to provide a home for your family. It is also known as a symbol of being independent and is a secure investment for future growth and stability. House Ownership and Bankruptcy With home ownership comes many problems, such as a large amount of debt. Buying a house becomes particularly c... Read more

Differences Between Guardianship and Power of Attorney

What is a Power Of Attorney? A power of attorney is a legal document that allows an individual or an agent to sign important paperwork in an event where you are unable to do so yourself. In this scenario, you will be legally known as ‘the principal’ and the individual representing you is known as ‘the agent.’ An agent has the authority to sign any documents – medical or financial, on behalf of the principal in case he/she is incapacitated. In Illinois, under The Power of Attorney Act, there are primarily three types of power of at... Read more

Child Support Obligations for an Incarcerated Parent

What is Child Support? A child support is a court order that designates a parent to provide childcare and other related expenses. The court will issue an Order of Support, which makes it obligatory for the other parent to pay the child support expenses as owed. In a scenario where the parent, who has a registered case with IV-D Services, can contact them for assistance in enforcing the child support payment order. Child Support for an Incarcerated Parent The responsibility of a parent to pay child support as ordered by the court will not change... Read more

Can I Do My Own Estate Plan? If So, Do I Want To?

Do-it-Yourself or DIY is well-known to apply to any task or project you start and finish all by yourself. When we say DIY, the first image that pops up in your mind might be of someone visiting a local hardware shop with a few bruises on their fingers buying equipment and supplies to finish their project. Think Before Planning You could easily fix a dripping faucet, change the flooring, repair drywall or wash your own car, but the question is, can you do your own estate planning? Well, yes, but not without concerns. While you can do your own es... Read more

How to Qualify For A Reverse Mortgage On Your Property

Reverse Mortgage:A Chance to Cash in Your Home’s Equity Reverse Mortgage is a loan arrangement in Illinois, where homeowners 62 years of age or older have a chance to get a monthly payment, or a single lump sum payment, if they agree to turn their home equity into cash. A reverse mortgage is a way for seniors to receive earnings in a situation where they have no other income sources. With a reverse mortgage, seniors can keep their homes and finance their monthly expenses when they find it difficult to make ends meet. How to Qualify For a Reve... Read more

Understanding the Merits of an Uncontested Divorce

You decided to marry because you were in love and wished to start a new life together. No couple thinks it will end in divorce. Unfortunately, some couples have to face reality when their marriage is falling apart. If you and your spouse have discussed divorce, either of you may have been served a petition under the Illinois Marriage and Dissolution of Marriage Act. Merits of an Uncontested Divorce If you believe divorce is the only way out of your marriage, then it’s essential to consider an uncontested divorce for the following merits: Save... Read more