Many individuals who begin developing an Illinois estate plan are under the impression that all they need is one document, generally a will, and the remainder can be put off until later. A typical Illinois estate plan is not just about what happens to your property when you die. It is equally important to consider […]
How to Do Estate Planning In Illinois: Will Trusts and more Read More »
Buying a rental property in Chicago seems pretty easy in theory. You buy something in a decent neighborhood, you rent it out, and collect your income. You’ll need to pay tax on that income, maintain and fix the property, and find new tenants should the existing ones move out. This all seems easy, but we
Buying Rental Property in Chicago: a Lawyer’s Perspective Read More »
So you got a tax refund from Illinois, great! Perhaps you were expecting a tax refund that is still floating around in the on-paper or virtual world. Or, you might even deserve a tax refund, and you don’t even know about it yet. Whatever your situation, if you are interested in the Illinois tax refund
What To Do About Your Illinois State Tax Refund Read More »
You may or may not be aware, but the concept of the limited liability company, which revolutionized modern finance and capitalism, was originally developed by the Dutch East India Company in the 17th century. Now, hundreds of years later, LLCs and the concept of limited liability are as popular as ever, and most people starting
How to Start an LLC in Illinois: Step by step Read More »
Imagine having an awesome piece of real estate on the Northside of Chicago that’s been in the family forever. This piece of real estate is so precious and so historically intertwined with family history, having it go through probate court would not only be costly and complicated, but it’s almost an insult to your ancestors.
Transfer on Death Deed Illinois: How does it Work? Read More »
Most of the clients who walk into our office are unfamiliar with the term “quit-claim deed.” So, what exactly is a quit-claim deed, and how does it work in Illinois? If you have assets in Illinois and you are looking to transfer them to someone else, a quit claim deed is one of the easiest
Quit Claim Deed in Illinois: What It Does Read More »
There is nothing worse than losing a loved one, and it can even be worse if there are layers of bureaucracy involved when dealing with their assets left behind. People are compounded with grief and uncertainty, and questions about probate arise, such as who has the authority to act, and how the probate system in
Understanding the Illinois Probate Act Read More »
No one wants to get divorced, but unfortunately, seeing as how around half of marriages will end in divorce, it’s a completely valid concern. So, how to protect yourself in case of a divorce, without suffering exponentially? With careful estate planning, of course, and that includes a prenup. In the state of Illinois, a prenup
Prenuptial Agreement Illinois: An insiders guide Read More »
In our experience, people in Illinois might have come across the term Power of Attorney (POA), but in reality, they have no idea what that really means. Granting power of attorney allows an individual to make decisions and execute tasks on your behalf. This means if you are not present physically or do not want
Power of Attorney in Illinois: How it works Read More »
Sometimes people drift apart and need some space, but that doesn’t mean their marriage is ending. In this case, a couple is going to want to go the route of legal separation, and in Illinois, the laws are very specific. But are they fair towards one party or the other? What are some of the
Legal Separation in Illinois: Rights and Processes Read More »
