Rockford Family Law And Estate Planning Blog
The benefits of an estate plan
Illinois business owners who do not have an estate plan should consider some of the benefits that an estate plan can afford their businesses and their loved ones. One component of an estate plan is a succession plan, which outlines how a business is going to be run or...
How wills and trusts differ in an estate plan
People in Illinois who are creating an estate plan might wonder whether it would be better to use a will or a trust. A last will and testament takes effect when a person dies and names an executor to distribute property to beneficiaries and administer the estate. A...
Estate planning can be a complex process
There are many different types of estate plan documents that individuals in Illinois and elsewhere may want to consider using. A revocable living trust allows a person to retain control of assets while holding them outside of an estate. Holding assets outside of a...
The implications of divorce for older couples in Illinois
Divorce is often a difficult process, but there are additional considerations for older adults. They may already be retired or close to retirement, and this can mean they might be less able to recover financially from divorce since there are fewer or no working years...
Minding social media in a divorce
People going who are contemplating or going through a divorce in Illinois need to be conscious of their social media pages and what they present to the public. If the general public is able to see something, a person should assume that their spouse or their divorce...
A pour-over will can be an effective safety net
Illinois residents and others may elect to create a pour-over will to ensure that their assets are transferred as intended when they die. It is especially helpful for those who have acquired assets after creating a trust and have failed to title them in the trust's...
When does child support end?
It should come as no surprise to Illinois residents that raising a child is expensive. Even if one’s schooling is free, textbooks, childcare, medical visits, school trips and extracurricular activities create added expenses that the parents must pay for out-of-pocket....
Tailoring a parenting plan
Illinois courts allow parents to tailor their parenting plans to meet their needs. When parents reach a custody and parenting time agreement, they can include details that apply to their particular situation. While it might seem easiest to use a standard parenting...
What to consider when creating a power of attorney
By creating a power of attorney document, an individual gives another person the power to make decisions on his or her behalf. The types of decisions that an agent is allowed to make are specified in the document itself. It isn't uncommon for people in Illinois and...
What may happen to a business in a divorce
Business owners in Illinois who run the company with a spouse and who are getting a divorce will have to decide what to do with the company. In many cases, couples prefer for one person to buy out the other, but this is only possible if the purchaser has enough...