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Special Estate Planning Considerations for Blended Families
The number of remarriages has been gradually increasing over the past few decades. As a result, blended families have become more prevalent than ever before. Blended families face unique challenges when it comes to estate planning. If you are a part of a blended family or are remarried, read on to learn how estate planning can put you in control of your and your family’s future.
When a Relative Dies Without a Will
Although it can be a hard topic to discuss, it is crucial that blended families talk about estate planning together. Family arguments and other issues can arise when parents pass away without a will or trust to dictate how their property should be divided between children of different marriages. When someone dies without any estate plans, surviving family members are left to figure out inheritance dilemmas in probate court. This can be an incredible burden for a family to shoulder. Creating inheritance and estate plans now can give you peace of mind and a sense of control knowing that your family will not be forced to sort out your final affairs during an already challenging time.
Child Support in Illinois: Determining Payment Amounts
Child support payments are among the most important elements that must be determined for most couples as they begin the divorce process. While many people associate child support with divorce, parents who share a child but are not legally married may seek or be required to pay child support.
Although child support payments are typically determined through the court, some families decide to settle their payments through a mutual agreement. According to 2016 data released by the U.S. Census Bureau, 89.9 percent of custodial single parents have formal agreements through the court, which means only a small percentage of parents maintain an informal agreement.
Here is a look at the types of arrangements families can have and the aspects that figure into the determination process.
Types of Child Support Arrangements
Most parents have joint custody of their children after divorce since judges typically believe this is in the best interests of the child. For those who share custody, calculating payments can be complicated. There are two factors that go into the determination process: a parent’s income and the amount of time spent with the child. Often, the parent who has the highest income will contribute the most money. However, if the highest earning parent also spends the most time caring for the child, their required check will most likely be reduced in an attempt to equate the costs between both parents. For those who have never been married, determining payment sizes can depend on a variety of factors. These include who the child lives with, the resources available to the custodial parent, and each parent’s income.
Be Wary of Estate Planning Scams
Whether you have never written a will or you are decades into maintaining a comprehensive estate plan, everyone should be on the lookout for a new type of scam artist: the estate planning scammer. The complex nature of estate planning has given unscrupulous individuals an opportunity to scam money out of innocent victims.
Facing your own mortality when planning for your family’s future can be overwhelming and emotional. Sadly, it is this emotional vulnerability which scammers use to trick people into ineffective and unnecessarily expensive estate plan “assistance”. If you are planning to draft a will or other estate planning document, make sure to avoid taking legal advice from unqualified or untrustworthy individuals. A licensed estate planning attorney can help ensure that your estate plans are sound and legally binding.
Understand What You Need and What You Do Not Need
Everyone should have an estate plan of some kind. Many people make the mistake of thinking that only the wealthy or those with children need a will or other estate plan. Most people own items of value (whether financial or personal value) that they wish to pass on to loved ones after they die. Estate planning allows you to guarantee that your property ends up where you want it to be after you pass away. Estate plans can also include decisions about final arrangements. Making decisions like these in advance saves your surviving family and friends the burden of guessing what you would have wanted. If you have minor children, creating an estate plan allows you to choose a guardian to care for your children if you pass away before they reach adulthood. Individuals with greater or more complex assets will require more complex estate plans that those without much property.
What Types of Adoption Are There?
Adoption is a popular option for many couples and individuals who wish to start a family. More than 135,000 children are adopted in the United States each year. Although it is often said parents who adopt are saving the child’s life, adoption significantly benefits the lives of parents as well. Adoptions vary, including the processes involved. Here is a look at the different types of adoptions so you can determine which is best for you. Whichever method you choose, adoption is a legal process, and you want a skilled adoption lawyer to help you throughout.
Domestic Adoption
These adoptions are those completed entirely within the U.S. There are two ways in which a domestic adoption can be completed: through an agency or private adoption. Agencies facilitate the adoption process and connect prospective parents with potential adoptees. Independent adoptions are often the choice of couples who already know the birth mother or family.
How to Help Your Aging Parents with Their Estate Plans
If you have aging parents, you have probably already noticed a certain amount of role reversal. As children grow to adults and parents get older, it sometimes becomes the child’s job to help his or her parents manage life’s challenges. If you have worried that your parents do not have adequate estate plans in place but are unsure of how to broach the subject, experts have some tips to help.
The Risk of Dying Without a Will
Although they are arguably one of the most important documents a person could write, many people pass away without ever having written a will. When the world famous singer Aretha Franklin died last year at age 76, she had no will or trust to direct how her assets should be handled. Her lawyer explains that he encouraged her to draft a will or trust for years, but she never did. Her four children must now endure a public probate process which could take years. Passing away without a will leaves private decisions up to strangers and impersonal state laws. It can also have a negative financial impact on the decedent’s estate and his or her surviving family.
Military Pension Law Affects Military Personnel and Former Spouses
The annual military divorce rate is not as high as many people believe. The divorce rate has remained at 3 percent over the last four years. Numerically speaking, 21,290 of 689,060 married troops divorced in 2017.
The legal issues surrounding military marriage and divorce can be difficult to understand, as military law is different than civilian law. Over the past few years, many changes have been made regarding military pension and its division with divorcees.
The Frozen Benefit Rule
This law is meant to benefit military members of all branches. This includes the Army, Navy, Air Force, Marines, Coast Guard, National Oceanic and Atmospheric Administration, and Public Health Service’s Commissioned Corps. The law comes into effect for military personnel going through a divorce. Under this law, a member’s rank and pay are frozen at the time of their divorce. This means the pension received by the individual’s former spouse will match the rank and pay that the member was receiving at the time of the divorce. Therefore, if the military member receives a higher rank, the former spouse will not receive additional compensation.
The Most Compelling Reasons to Write a Will
There are many misunderstandings about wills and estate planning in general. People incorrectly assume that they do not need to worry about estate planning until they have retired or that only the rich need a last will and testament. The reality is that having a will is beneficial to people of all ages and lifestyles. Passing away without a will means that strangers will decide how your property and wealth is managed and distributed to heirs instead of you. Although it can be difficult to make decisions about what will happen after you die, creating an estate plan put you in control of the assets you worked so hard to earn. The following are the most compelling reasons to stop procrastinating and get started on your will today.
Choosing a Guardian for Children if You Pass Away
If you are a parent of minor children, have you ever considered what would happen to your children if you passed away suddenly? Even a family with two parents can be struck by an unexpected tragedy which leaves the children parentless. A will allows you to name a legal guardian or guardians for your children if the worst happens. Parents who pass away and did not name a legal guardian for their children leave that decision up the court.
What is Emotional Abuse and How Do You Escape an Abusive Relationship?
Abuse comes in various forms, and unfortunately, many people experience some form of abuse in a romantic relationship. The three most common forms of abuse are physical, sexual, and emotional abuse. While the definitions of physical and sexual abuse are fairly clear, emotional abuse can be difficult to detect.
Emotional abuse is classified as using a person’s emotions against them as a weapon of control. According to the National Coalition Against Domestic Violence, nearly half of women and men have experienced psychologically aggressive behavior by an intimate partner. Emotional abuse may not be easy to recognize, but it is one of the most common forms of abuse that occurs between partners and often leads to divorce.
Recognizing Signs of Emotional Abuse
Emotional abuse often breeds from the insecurity of one partner. The abuser often does not realize their words and actions are abusive. This is because emotional abuse usually starts small and continues to escalate as time goes on. The following are common signs of emotional abuse:
How to Choose Your Power of Attorney
When creating your estate plan, it is vital to choose the right person to be your power of attorney, or agent. Powers of attorney have a tremendous amount of responsibility when it comes to estate planning, so choosing a representative who is accountable and trustworthy is imperative. A power of attorney document allows you to authorize someone to act on your behalf if you cannot do so due to illness or other incapacitation. The authority given to a power of attorney is largely dependent upon the document’s language. For help drafting a power of attorney document or for other estate planning assistance, contact a qualified estate planning attorney.
Types of Powers of Attorney
A non-durable power of attorney is designed to provide only a temporary solution. This document can be custom-made to authorize your agent to complete specific transaction. For example, you could give authorization to another person to sign a document that requires your signature if you are unable to do so yourself for some reason. A non-durable power of attorney terminates when you lose the mental capacity. Alternatively, a durable power of attorney is a more permanent solution which stays in effect even if you become incapacitated and cannot manage your own financial affairs. Both types of power of attorney can be designed to give your agent the level of authority you feel comfortable with.
Presumed Parentage and Establishing Paternity in Illinois
Getting pregnant and having a child does not always go as planned. Families come in many different forms, especially those created outside of marriage. Being married and having children do not always go hand in hand, but it often makes paternity much easier to establish. Here we will discuss Illinois parentage laws and proving paternity.
Presumed Parentage
Like many other states, Illinois has a presumed parentage law. The term presumed parent means an individual who is recognized as the parent of a child until that status is rebutted or confirmed in a judicial or administrative proceeding. The presumed parentage law makes it much easier for married couples to legally name a child as their own. This law was recently updated to apply to both opposite-sex and same-sex couples.
Though the presumed parentage law makes things easier on married couples, it can complicate parentage outside of marriage because life is sometimes more complicated than simply saying, “I do.” Just because an individual is married does not necessarily mean their husband is the father of their child. Infidelity sometimes plays a role in pregnancy. This law can help make things easier on married couples, but it can also make it easier for a mother to avoid having a paternity test.
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