Recent Blog Posts
Mediation vs. Collaborative Divorce: Is There a Difference?
If you are getting divorced but the thought of spending hours in court negotiating with your spouse makes you queasy, there are other options. In fact, only a small percentage of Illinois divorces are actually litigated in court because the alternatives to litigation have so many advantages.
This article looks at the two primary alternatives to divorce litigation: mediation and collaborative divorce. Although they are similar, mediation and collaborative divorce are not the same, and it is important to understand their differences, so you know whether one of these options is right for you.
What is Mediation?
In an Illinois divorce, mediation is a negotiation process involving two spouses and an impartial third-party mediator. Mediators are trained professionals who can guide spouses through negotiations about important issues such as the division of marital property, parenting time, and spousal support. Mediators are skilled in conflict resolution and can help spouses keep hostility to a minimum. Although each spouse usually still has an attorney, the attorneys are not a part of the mediation process.
Estate Planning With High-Value or Complex Assets
While estate planning is important for everyone, it is especially so for high-net-worth individuals. If you own high-value or complex assets, a number of estate planning tools are available to ensure that your wealth is distributed according to your wishes while minimizing your Illinois Estate and Generation-Skipping Transfer Tax liability. The greater the value of your estate, the greater the potential liabilities. An experienced attorney can craft an estate plan designed to preserve your wealth.
Minimizing Taxes During Estate Distribution
Generally, trusts are favored over wills. Trusts serve one very important purpose-- avoiding probate. Probate can be costly and complicated, and it significantly diminishes your estate’s value. There are two types of trusts: revocable and irrevocable. Often, both are used to hold different assets and to serve different purposes.
A revocable trust allows you to continue making modifications to it throughout your life. You can move assets in and out of a revocable trust. Any wealth contained in a revocable trust will not be subject to probate.
Parenting Tips for a Successful School Year After Divorce
Getting used to parenting with your kids in two separate households is a difficult but necessary task for many families adjusting to life after divorce. The start of a new school year puts additional responsibilities on parents as they try to arrange schedules, buy supplies, and manage expenses.
Thinking ahead is crucial for creating an adequate parenting plan. Having a plan in place can help a family transition into the academic year much more smoothly. Whether you have been divorced for years or are still going through a divorce, here are some things to consider addressing in your parenting plan as your children start school.
Share Unexpected Expenses
Child support is generally expected to cover a child’s cost of living at one home, but school can add extra unanticipated expenses. Extracurricular activities, books, and fees for tests and college-level courses can add up quickly.
Addressing how unexpected educational expenses will be handled is an important part of any parenting plan. Parents might split them 50/50, each parent may agree to pay for certain expenses, or one parent may be able and willing to pay for everything. Parents may also want to consider having their older children help pay for things like involvement in sports teams or school dances.
Are There Different Types of Powers of Attorney?
A power of attorney is a legal document that gives another person, called the “agent,” the power to make decisions on your behalf. Powers of attorney can be as limited in scope as allowing your agent to handle one specific transaction for you, or as broad as giving your agent general and permanent power to manage all of your finances and medical decision-making. It is very important to consult with a qualified attorney before you execute any power of attorney. These legal documents can be quite complicated, and an experienced attorney will be able to guide you through the process and ensure that your wishes will be carried out correctly.
What is the Difference Between Durable and Springing Powers of Attorney?
The main difference between a durable power of attorney and a springing power of attorney is that a durable power of attorney takes effect immediately and gives your agent the ability to start making decisions for you, managing your finances, or any other included powers right away. It is effective for the rest of your life unless you revoke it. A durable power of attorney is not affected if you become incapacitated. One advantage of a durable power of attorney is that since it is already in effect, the transition after you become incapacitated can be seamless.
Choosing the Right Illinois Divorce Attorney For You
If you have decided to get a divorce, the next step is to choose an Illinois divorce attorney. But what makes a good attorney? Out of the myriad of options, how do you know what to look for, or even where to look?
Choosing a divorce attorney is an important part of the divorce process. The right attorney can make the divorce process smoother, less stressful, and will avoid unnecessary delays and mistakes that can cost you valuable time and money. This article discusses the process of choosing a divorce attorney, as well as some of the things you should look for.
Where Should I Search for a Divorce Attorney?
First, begin by speaking with trusted friends and family. If you know anyone who has recently been through a divorce, ask them how they felt about their attorney. You may be surprised to find that some people will even recommend their ex-spouse’s attorney rather than their own, simply because the attorney did such a great job of advocating for their client.
What to Consider When Choosing an Executor for Your Illinois Will
One of the most important parts of creating a successful estate plan is deciding who will be responsible for carrying out the wishes of your will. This person is known as an “executor.” Even if you think your estate is small, choosing a trustworthy executor is important for ensuring your last wishes are in good hands.
What Does an Executor Do?
Even for a smaller estate, an executor has many responsibilities. It takes about a year to completely settle an average estate, and sometimes it can take much longer. Your executor will file your will with a court to pay off any debt you may have, close all your accounts, hire any necessary experts, and ensure your assets are distributed appropriately.
What Makes Someone a Good Executor?
Because an executor is entrusted with sensitive personal and financial information, not just anyone should be named as an executor. Ideally, an executor should be:
What is a Living Trust in an Estate Plan?
There are several options for people in Illinois who want to ensure their assets are protected and their wishes are fulfilled after their death. Among these is something called a “living trust,” and it is one of the most valuable asset protection instruments someone can have. Living trusts are versatile estate planning tools that offer flexibility when transferring assets to loved ones. Better yet, they save your estate from having to go through a time-consuming and expensive probate process.
What is the Purpose of a Living Trust?
A trust is a legal arrangement in which one person - the trustee - holds assets on behalf of another person, known as the beneficiary. A living trust has the advantage of remaining under the control of the trustee for as long as they live, giving the trustee great flexibility over how the assets in the trust are handled. A trustee of a living trust can sell, mortgage, or give away assets held in the trust at any time. Once the trustee passes away, a successor trustee appointed by the original trustee distributes the assets to the trust’s beneficiaries.
What is the Difference Between Custody, Parental Responsibilities, and Parenting Time in Illinois?
In 2016, a new law came into effect changing the way that Illinois’ courts handle child custody issues during and after divorce. Rather than calling a parent’s time and decision-making authority “custody,” the new law divides the parental relationship with a child into “parenting time” and “allocation of parental responsibilities.”
Parents going through a divorce may find these phrases confusing, especially since parenting time and parental responsibilities are often still colloquially lumped into the word “custody.” However, there are important differences. This blog post will define and discuss these terms.
Why Did Illinois Stop Using the Term “Custody”?
Finding the old terms “custody” and “visitation” to be too vague and old-fashioned, Illinois law replaced them with phrases that are more specific and reflect modern reality. “Custody” and “joint custody” are no longer legally recognized at all, and “visitation” is only used in the context of third parties, such as grandparents’ visitation rights. Although the words “custody” and “visitation” are no longer meaningful in the legal sense, the concepts they described are still very much relevant.
Can I Use an Online Legal Service to Get an Illinois Divorce?
Technology has enabled us to do amazing things. We can now talk face-to-face with each other, anywhere in the world, at any time. Medical advances are moving forward in leaps and bounds, and if Jeff Bezos can go into space in his own brand new spacecraft, surely you can get divorced online, right?
Are There Any Advantages to Online Divorce?
“Do-it-yourself” divorce, or online divorce, can seem like a good option for a number of reasons. They advertise low costs, and they seem faster and less complicated than a normal divorce – no trial lawyers, no discovery, no fighting. If you do not have children or own property together, DIY online divorce can seem like a great alternative to the traditional courtroom divorce process. Just fill out the online forms, print them out, and send them to the family court in the county you live in. But is it really that simple?
What Are the Disadvantages of Online Divorce?
Unfortunately, the appeal of online divorce quickly fades as the real complications of divorce come to light. Using an online service to end your marriage opens the possibilities to mistakes and errors. Legal paperwork is technical and must be done correctly; even if a mistake was completely unintentional, if the paperwork is not done right, it cannot be filed.
Things to Consider When Writing Your First Will
The circumstances necessitating estate planning can be unpleasant to think about and people often avoid putting off writing their will. However, writing your will and establishing your priorities after your death is one of the best ways you can show love to the people you care about most. You may think you are too young to write a will, but the truth is that the sooner you write a will, the safer your loved ones will be.
If you have never written a will before, you may wonder what you should include. In this post, we will discuss some of the things you should consider when you are writing your will.
What Is a Will?
If you are writing your first will, you may be unsure about what a will is or what it does. Essentially, a will is a binding legal document that details what will happen to your property after you die. If relevant, a will can also address who will be appointed as a guardian for your minor children. A will also appoints someone who ensures the will is implemented correctly. This person is called an executor.
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