New Illinois foreclosure rules which went into effect last year, were put in place to assist and protect those who face foreclosure on their residential property. Tens of thousands of homeowners in Illinois are still facing the possibility of losing their homes to foreclosure a full six years after the housing market crashed. … [Read more...]
Avoiding Zombie Title Pitfalls
Posted on May 16, 2014 //
According to a 2009 -RealtyTrac study, foreclosure filings increased by more than 81 percent in 2008. This means that just over 860,000 families lost their homes when they were unable to keep up their mortgage payments. In Illinois, 32,000 homes were trapped in a situation where ownership of the home (and bills associated with said ownership) was unclear. … [Read more...]
Tips on maintaining your estate plan
Posted on May 15, 2014 //
If you are one who understands the importance of having an estate plan, you may have already taken the first important step of meeting with an attorney. During this process, you most likely discussed and had and paperwork drawn up for a will, a power of attorney or perhaps a trust. … [Read more...]
The advantages of setting up a trust
Posted on May 14, 2014 //
Many people in Chicago, Illinois, may think creating a will is enough to set their affairs in order. Although a will represents an essential starting point, people with significant assets or complicated circumstances should also consider setting up a trust. A trust is an arrangement that allows one party to hold assets on behalf of beneficiaries. A person who places his or her assets in a trust can protect the value of those assets and control precisely how they are distributed. … [Read more...]
