Check With HOA For Defects Before Buying A Condo

Homeowners’ associations (HOAs) are valuable resources when checking for possible defects before purchasing a condo. Because the HOA is not incentivized by the possibility of a large payout or to lie, deceive or mislead a prospective buyer, consumers may be able to access more detailed and honest information than they might otherwise. Sellers are incentivized to paper over defects in the building or other issues that are currently being contested because their goal is to sell the unit and move. … [Read more...]

Treating Children Differently but Fairly in a Will

Parents sometimes leave unequal inheritances to their children and just because these amounts are uneven doesn't necessarily mean they are not fair. Decisions are often based on the needs of adult children, their achievements, major gifts that were already given, and alternative forms of estate planning. The Unequal Situation Parents often create their wills with the current financial situations of their children in mind. The following is an example of a scenario that a Chicago will attorney … [Read more...]

3 Common Myths About Probate Law

Probate is a technical and often misunderstood area of the law. Here are some of the more popular probate law myths. 1. There Will Be a Reading of the Will Many fictitious depictions of probate law include a reading of the will, but in reality, there won't be an actual reading with your attorney or representative. While readings may have taken place more often in days of illiteracy, they are far less likely to be done today unless it's absolutely required for the beneficiaries. Typically, … [Read more...]

Estate Planning for Same Sex Couples

  Same sex couples often have unique circumstances that can sometimes result in more complicated or creative estate planning techniques being implemented to ensure that their wishes are followed. Fortunately, there are a few simple steps that LGBT couples and their estate planning attorney can take to avoid potential pitfalls in the future. According to the pros, same sex couples should:   1. Review their legal marital status ahead of time In Illinois, same sex marriage has … [Read more...]

Choosing the Best Fiduciary for Your Will

Choosing a qualified trustee to oversee a will can have a big impact on divisions of assets after a person's death. A will attorney can address questions and concerns of family members and beneficiaries. Choosing an Estate Fiduciary A fiduciary is an entity or person who manages another person's affairs if that person is incapacitated or deceased. The word fiduciary is a general term referring to agents, personal representatives, or trustees. When choosing a fiduciary to oversee an estate, … [Read more...]

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