Is There a Benefit to Doing a Short Sale? Many people falling behind on their mortgages and facing foreclosure wonder whether there is a benefit to doing a short sale versus simply riding out the foreclosure and leaving the home upon eviction. Both options have their pros and cons, and so it is advisable to... Read more »
My Parent’s Death Was the Result of an Accident. Do I Need Probate? If your parent or spouse lived in Illinois and died due to an accident, a probate matter should be opened if your family intends to pursue the party that caused the accident for a wrongful death claim. Any type of wrongful death... Read more »
What is the Governing Law of Foreclosure in Illinois? Illinois, like most states, has enacted specific legislation that controls the method of a bank’s foreclosure. The Illinois Mortgage Foreclosure Law of 1987 (IMFL), is Illinois’ version, cited as 735 ILCS 5/15-1101 et. seq. The IMFL is the primary source of law governing foreclosures, and includes... Read more »
What is a Special Needs Trust? If you have a loved one who has special needs, then you may have heard about Special Needs Trusts (SNTs). Special Needs Trusts permit you to gift or bequest money to a loved one (via the Trust) without jeopardizing the person’s government benefits. The government benefit that is most... Read more »
The Dangers of Using a Small Estate Affidavit in Illinois If you’ve had a loved one pass away and the duty has fallen to you to collect assets and pay outstanding bills, you’ve no doubt heard of a small estate affidavit. Perhaps you went to the bank to access your parent’s bank account to pay... Read more »
Benefits of Having a Trust in Addition to a Will Many people often wonder whether it is necessary to have a Trust when they already have a Will, and vice versa. Trusts offer many benefits that a Will cannot replicate, but Trusts are not for everyone. But to better understand what a Trust can do,... Read more »