Throughout a marriage, couples acquire assets, that later are often deemed “marital property”. In the course of a divorce proceeding, if the spouses cannot agree, the court will decide the manner and amount of the division of assets (and debts).…
The concept of “funding” a Trust involves transferring assets to the ownership of the trust. These assets include real property, financial accounts and other types of property. Fully funding a Trust ensures that you and your beneficiaries receive the most…
Do you own a home? Have financial assets like stocks or savings accounts? Are concerned about what will happen to your minor children should you pass? Want to ensure your property is distributed in a certain order? If you answered…
Estate planning trusts can be one of the more valuable options available to administer an individual’s financial affairs during a disability or at their death. Clients have often found that a living trust is superior to other methods. Most individuals…
Do you have an IRA or 401(k)? You may want to consider a retirement trust as a part of your estate plan. A majority of Americans have some type of retirement account. A retirement trust allows you to manage those…
Pets have always been considered property in the eyes of the law. A new state law, effective January 1, 2018, now allows a judge to determine custody for companion animals within the context of a divorce proceeding. The law, which…
The legal process of divorce can be overwhelming emotionally, especially as it relates to the financial disruption that occurs with the divorce process. Each divorcing person has an interest in protecting their financial future-not just the near term, but also…
You have likely created an estate plan for yourself, but have you ever thought about creating health care directives for your college bound child? The story below outlines a scenario where these documents are beneficial and necessary. Ashley’s Story Ashley…
The new year brought new laws. One of the most highly publicized, and impactful new laws brought significant changes to the U.S. tax code. If you are an individual seeking divorce you may be affected by this new law. Illinois’s…
On December 20th, 2017 one of the largest tax reforms bill in recent decades was passed, which went into effect on December 31, 2017. The implications of this Act will affect realtors, homeowners, future homebuyers and the real estate market.…