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Estate Planning Tools That Are Often Overlooked
Only about four out of ten adults have any type of estate plan in place. Misunderstandings about the purpose of estate planning and fears about confronting one’s own mortality are two of the main reasons that people neglect this important responsibility. People also put off estate planning because they are overwhelmed and do not know where to begin.
If you are ready to get started on your estate plans, consult with an experienced estate planning lawyer. A lawyer will help you determine what types of estate planning tools will best accomplish your goals. He or she can also ensure that your estate plans do not contain mistakes that could invalidate the decisions you have made.
Planning for Future Disability or Incapacitation
Of the people who do create estate plans, many draft a will and little else. A will is a crucial estate planning tool that allows you to direct how your assets are passed down to heirs upon your death, but it is not the only estate planning tool worth utilizing. You must also consider what will happen if you become seriously ill or injured and are unable to speak for yourself. A medical power of attorney allows you to choose a representative to speak on your behalf about medical decisions if you are incapacitated and cannot express these medical wishes. A financial power of attorney allows you to appoint a representative to manage your finances if you cannot do so yourself. A living will allows you to choose in advance what types of end-of-life care you would and would not want if you could not express it. You can choose whether or not doctors should use mechanical ventilation, tube feeding, CPR, and other medical procedures to delay your death.
What Are the Basics of an LGBTQ Divorce in Illinois?
Since November 2013, same-sex couples have had equal access to marriage and divorce rights under federal law. In Illinois, a lesbian, gay, bisexual, transgender, questioning (LGBTQ) marriage is similar to opposite-sex marriage. Not only do same-sex couples have the right to get married, but they can also share property and assets, file joint tax returns, receive retirement and veterans’ benefits, and many other rights and responsibilities that opposite-sex couples receive following marriage. Since same-sex marriage is still relatively new, couples may not fully understand how the law applies to them when it comes to divorce. Therefore, if you are considering a divorce, it is critical that an experienced attorney guides you through the process.
Illinois Divorce Laws
Illinois is a no-fault divorce state, meaning you do not need to give the court a reason why you and your spouse wish to end your marriage. According to the Illinois Marriage and Dissolution of Marriage Act, in order to be granted a divorce, a couple must only prove:
How Can I Reduce the Chances of My Will Being Challenged After My Death?
Deciding how your property should be distributed upon your death is not the most pleasant topic to consider. However, proper estate planning is a crucial step that every individual should take regardless of age or wealth. If you have decided to create a last will and testament, you may be concerned about your will being challenged or contested. When a person contests a will, they challenge the validity of the will in court. If the will contest is successful, the directions contained in the will may be set aside and instead the deceased person’s property is distributed according to intestate laws. There is no way to guarantee that your estate plans will not be contested, but there are actions you can take that will significantly reduce the chances of a will contest.
Do Not Put Off Estate Planning Until Old Age or Poor Health
Many people are under the false assumption that they do not need to worry about their will or other estate planning tool until they are much older or have a major health concern. However, waiting too long to start estate planning could result in your will being contested due to lack of testamentary capacity. The best way to avoid this is to create your will before you have any type of major mental or physical health issues. Once you have drafted your will, talk to your family about what to expect when you pass away. When beneficiaries know the contents of your will in advance, they may be less likely to contest the will out of shock.
What Can Child Support Payments Be Used for in a Divorce?
Child support refers to the money paid by one parent to the other parent to help financially support their child after the parents get a divorce. However, these types of payments may also be appropriate for couples who never married but had a child together. Typically, child support is paid to the parent who was allocated the majority of the parenting time with the couple's child. In Illinois, child support is based on both parents' net incomes, and an “income shares model” is used to calculate the amount of the payments. Child support arrangements must be approved by the court. Payments are typically made on a monthly basis, and a parent can face penalties if the support payments are late or if support is unpaid.
Child Support Uses
Overall, child support is intended to maintain the child’s well-being and guarantee all of his or her basic needs are met. The basic child support obligation determined using the income shares method is meant to cover the following types of expenses:
What if My Child Refuses Parenting Time with My Ex-Spouse?
If you are a parent who is divorced or legally separated, you are likely familiar with the court-approved parental responsibilities you and your ex may have spent hours trying to resolve. A parenting plan is a legal document that outlines child-related issues such as with whom your child will live, who has decision-making authority regarding issues such as children's education and medical care, and more. Unfortunately, your child may not be too happy about the decisions made during your divorce, and they may state that they do not wish to spend parenting time (visitation) with your ex-spouse. However, even if your child is reluctant to spend time with his or her other parent, you will be required to follow the parenting time schedule set down in the parenting plan, and you may face penalties for failing to fulfill the court's orders.
The Reasons Behind the Refusal
Addressing Disputed Estate Documents Following a Loved One’s Death
Processing a loved one’s death is hard enough on its own. There is no measure for the hurt and overwhelming range of emotions that comes with saying goodbye to someone near and dear to your heart and family. When it comes time to handling wills and other estate documents following the death, the very last thing anyone wants to deal with is an estate dispute.
Whether you discover an inaccuracy or you are simply having a hard time believing the information found in the document to be fair, examining a loved one’s wishes and estate arrangements after they are gone can be overwhelming, to say the least. Deciding to mount a legal challenge can be even more difficult.
Factors to Consider
If you or member of your family have come to the conclusion that it is necessary to dispute a certain estate document, you will need to think about:
- The nature of the document and how it was created - If your loved one created a certain document on their own with no legal help, there is a chance that the document will not stand in a court of law. Sadly, when estate documents are created in a do-it-yourself manner, they are less likely to carry any weight when presented in court as official, enforceable orders;
5 Tips for How to Have a Strong Relationship with Your Stepchild
The United States is a nation in which a majority of families are divorced. However, many people find love again and choose to remarry. According to the U.S. Census Bureau, approximately 1,300 new stepfamilies are formed every day. Becoming a stepparent can be stressful and intimidating. However, with realistic expectations and a certain approach to building a relationship, a sustaining bond can be created. In some cases, a stepparent may even wish to legally adopt his or her stepchild. It is important to have an experienced family law attorney assist you throughout the legal process.
Blended Families
A remarriage often involves more than just a couple. One or both parents may have children from their previous marriages or relationships. If you are getting remarried after a divorce, and you will have a stepchild, keep these tips in mind for a smoother transition for everyone involved:
Now May Be the Right Time to Consider Appointing a Medical Power of Attorney
Coronavirus concerns has many people putting estate plans at a much higher priority than normally. Although the chances of becoming seriously ill or dying from the virus are low for most Americans, it may still be a good idea to start implementing an estate plan. One important aspect of a comprehensive estate plan is a medical power of attorney or power of attorney for healthcare. By appointing a medical power of attorney for healthcare, you ensure that your medical decisions will be made by someone you trust if you cannot make these decisions on your own.
Power of Attorney for Healthcare Basics
Many people assume that estate planning is only necessary if they are sick or elderly, however, it is best to create an estate plan while you are healthy and able to make clear decisions. An unexpected accident or illness can happen to anyone at any time. If you were seriously hurt or sick and could not tell doctors what your medical wishes were, you would probably want a trusted loved one who knows your preferences to make these decisions on your behalf. A healthcare power of attorney allows you to choose an agent who will be responsible for making your healthcare decisions if you cannot do so yourself. The term “power of attorney for healthcare” is often used to refer to the legal document as well as the person acting as your agent.
How Can Coronavirus Affect Parental Responsibilities in Illinois?
The coronavirus pandemic is not just impacting grocery stores and group gatherings. It may also be affecting parental responsibilities (child custody) among divorced parents. On March 16, 2020, Illinois Governor J.B. Pritzker declared a state-of-emergency decree in response to COVID-19. As a result of the declaration, all schools in Illinois are closed until further notice, leaving parents unsure of what they need to do to provide care for their children. Most divorce orders outline when children will stay with each parent if schools are not in session. However, those orders are based on pre-arranged off-days and holiday schedules, not unplanned notices based on a national health crisis. To ensure that your parental rights are protected while addressing your children's health and safety, you should consult with a family law attorney to determine how to proceed.
What Is the Role of an Executor in Estate Planning?
One of the most important decisions in the estate planning process is selecting who will be named as executor of the estate. The executor is the person who is responsible for overseeing and protecting the assets of the deceased person. He or she is responsible for ensuring that the wishes of the decedent are carried out, as well as maintaining any property of the estate until disbursement, paying the debts of the estate, and any taxes owed. It is critical for the person who is appointed executor to understand how to manage the estate. If they mismanage estate assets that add up to a loss to the beneficiaries of the estate, they can be held liable for those losses.
Important Duties
Unless arrangements have been made before the person’s death, it is typically the executor’s responsibility to handle the financial arrangements for the deceased’s funeral and burial expenses. The funeral parlor also provides copies of the death certificate to the executor. It is important to obtain several copies of the death certificate since a copy will be necessary in order to access financial accounts and canceling government benefit checks (i.e. Social Security). A copy is also required to be filed with the final federal tax return of the estate.
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