Posted on April 11, 2018 in Estate Planning

According to a CNBC.com survey, over one-third of high-net-worth families have failed to take even basic steps to provide for their loved ones when they die and to ensure that their final wishes are granted. More specifically, 38 percent of people with over $1 million or more in assets have not created an estate plan.

Many people do not realize the ways a comprehensive estate plan can help them and their loved ones, while others mistakenly believe that they do not make enough money to qualify for an estate plan. Another reason many otherwise financially-savvy people do not have an estate plan is because it can be exhausting and overwhelming to try to plan everything on your own. Studies show that some individuals suffer from what is called “estate planning fatigue” which makes them less likely to have up-to-date, enforceable estate plans.

Constant Changes to the Federal Estate Tax Laws Have Been Confusing

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 Posted on April 10, 2018 in Divorce

The roles of women and men have changed dramatically throughout the last 100 years. Women have gone from being treated as second-class citizens to earning the same rights as men. Even the last few decades have seen a dramatic increase in women in positions of power and authority. Many more women are choosing to make their career a top priority than in the past, and this has resulted in more families with a female breadwinner. If you are the primary earner in your marriage and you are considering divorce, you probably have many questions and concerns. Every divorce is different, but there are a few things you should keep in mind.

Know What Your Rights and Responsibilities Are

When we think of divorce, many consider the higher-earning spouse as more of a liability than an asset. After all, the spouse who brings more property and resources to the table has more to “lose.” The law treats marriage as a partnership, and most assets and debts accumulated during the marriage are considered to be marital property. However, many spouses struggle not to feel like certain things, such as retirement accounts or savings, are solely theirs. After all, they earned the money, so they believe they should get to keep it, regardless of the divorce.

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 Posted on April 05, 2018 in Guardianships

Do you know someone who is struggling to manage their life due to advanced age, illness or disability? Most of us know a person like this in our own families. In many cases, it is possible to help a person manage their affairs by sitting down with them and assisting them with paying bills, making health care decisions, and other aspects of everyday life. While this type of assistance is fine in some situations, others may require more drastic measures. One such option may be for you to seek guardianship of the person in question, but doing so can be complicated.

Identifying the Need for a Guardian

According to Illinois law, guardianship for an adult can only be granted by the court, but before the court can appoint a guardian, it must first determine that the adult is in need of one. Specifically, the court must find that the person in question is disabled due to deteriorating mental faculties, physical incapacitation, mental illness, or developmental disability. The court may also find a guardian to necessary for a person dealing with severe gambling, drinking, or drug problems.

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 Posted on April 05, 2018 in Divorce

Children deserve to have a good relationship with both their parents, but this can sometimes be difficult after parents decide to divorce. Children often struggle to understand the reason for the end of their parents’ marriage, and they can have difficulty adjusting to dividing their time between two homes. Unfortunately, the emotional distress they experience is sometimes made even worse when one parent attempts to negatively influence their children’s relationship with their other parent. This is known as parental alienation, and it is important for divorcing parents to recognize when it is occurring and understand their legal options.

Forms of Parental Alienation

Parental alienation occurs whenever a parent attempts to influence their children’s feelings about the other parent, and it can take a variety of forms, including:

• Criticizing the other parent, including making disparaging comments, blaming them for the breakup of the marriage, claiming that they are the cause of financial difficulties, or questioning or overriding their decisions about discipline.

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 Posted on April 03, 2018 in Divorce

Most of us know at least one married couple who are living separately. In some situations, spouses may experiment with a “trial separation” while in others, they are living on their own as they prepare for a divorce. Living separately is a common precursor to divorce, but there are some things you should know about separating before you or your spouse moves out.

What the Law Says

Prior to 2016, the law in Illinois required a couple to live separate and apart for a minimum of six months before they could pursue a divorce on the grounds of irreconcilable differences. The standard requirement, in fact, was two years, but if the spouses agreed, the separation period could be reduced to six months. Today, a couple can only seek a divorce on the grounds of irreconcilable differences in Illinois, but the separation requirement has been eliminated altogether. The law was changed in 2016 to allow couples to pursue a happier post-divorce future without having to simply watch the calendar for months. If the spouses do not agree on the divorce, however, a six-month separation period is considered by the court to be irrebuttable proof that the marriage has broken down beyond repair.

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 Posted on March 28, 2018 in Estate Planning

According to surveys, only about 40% of Americans have a last will and testament and much fewer have a comprehensive estate plan. There are many reasons why people neglect to plan for their future in this way. Some people are simply unaware of the ways an estate plan can help protect their wishes and decrease the burden on their family. Others assume that they do not have enough assets or make enough money to qualify for estate planning. The reality is that everyone can benefit from planning for the future using estate planning tools.

They Think They Do Not Need a Will If They Are Young and in Good Health

In movies, wills are only written by characters who have just learned that they have a terminal illness or are otherwise planning to die. This is very misleading. One of the worst times to write a will is when you are in bad health. A person should write a last will and testament while they are still cognitively competent to do so. A will written by a person of questionable mental capacity due to old age, dementia, or another illness is very vulnerable to being contested, or formally disputed in court. Furthermore, there is no need to wait until an advanced age to write a will or create a trust which determines how your assets are distributed after your death. The best idea is to create a will while you are young and to simply update it as your life circumstances change.

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 Posted on March 28, 2018 in Divorce

When parents decide to divorce, both they and their children may have difficulty adjusting to the major changes they will be experiencing in their lives. Some growing pains are inevitable as children become accustomed to dividing their time between two separate homes. However, parents can work to provide a good environment for their children by avoiding the following mistakes:

• Involving children in conflict - Even though parents will likely not get along very well during divorce, it is important to avoid arguing in front of children or exposing them to disagreements. This can be very damaging to children, so parents should work to resolve their disputes when children are not present.
• Inconsistency - Parents should work to maintain consistent rules and schedules at both their houses, which will provide children with a sense of security and help them avoid feeling anxious about what to expect.

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 Posted on March 27, 2018 in Divorce

During divorce, spouses will work to resolve a wide variety of legal issues through negotiation or mediation, and ideally, they will be able to resolve these issues without the need for litigation in court. At the conclusion of the divorce process, a couple’s final decisions about these issues will be set down in a marital settlement agreement which will be incorporated into their divorce decree. In Illinois, a marital settlement agreement should include the following:

• Division of assets and debts - A settlement will specify how any marital property will be divided between spouses, including real estate property, physical possessions, automobiles, the balances of bank accounts, business interests, and retirement funds or pensions. It should also specify who will be responsible for marital debts.
• Parenting plan - This portion of the settlement will specify how parents will share decision-making responsibility for their children or whether one parent will have sole responsibility in certain areas. It will also detail each parent’s parenting time schedule, including where children will stay on holidays, who will provide transportation, and any other relevant details.

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 Posted on March 26, 2018 in Divorce

Divorce is a tough process for anyone. After all, no one gets married with the intent to someday divorce. Women sometimes experience different challenges during divorce than men do. There is no perfect way to end your marriage, but there are some things you can do to minimize your stress and help the process go more smoothly.

Take Care of Your Needs

Women often put other’s wants before their own. Wives and mothers are sometimes so busy looking after others that they rarely stop to think about their own needs. According to the Holmes-Rahe Stress Inventory, getting divorced is the second-most stressful life even a person can experience. Only the death of a spouse is considered to be a more stressful life event. During this time, it is important to charge your emotional battery. Whether that means going to the spa, out to lunch with friends, or sitting in your own backyard with a good book, do not be afraid to take time to de-stress while your divorce is ongoing.

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 Posted on March 22, 2018 in Estate Planning

Although it has been nearly 13 years since she passed away, many people still remember the name Teri Schiavo from the famous right-to-die legal case which spanned from 1990 to 2005. Schiavo was only 26 years old when she suffered cardiac arrest which left her in a persistent vegetative state. Although the young woman was alive, doctors explained that she would probably never gain full consciousness.

Schiavo’s husband felt that his wife would not have wanted to be kept alive through machines and fed through feeding tubes and requested that his wife have her feeding tube removed. The woman’s parents fervently disagreed with this plan and battled in court to keep their daughter alive. The case sparked increased interest in advance directive measures that allow a person to ensure their wishes regarding medical treatment will be followed in the event they are incapacitated.

Half of Elderly Hospital Patients Unable to Communicate Wishes

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