It has been said that the only two things certain in life are death and taxes—which leads to the question—what happens to my money when I die? After a person dies, their assets need to be distributed and their debts need to be paid. This is either done in accordance with the deceased’s wishes, if […]
Prenuptial agreements, or prenups, have a historically “bad” reputation. Many people have preconceived notions of prenups based on pop culture and tabloids. Often, prenups are associated with a traditionally wealthy spouse trying to shield money and assets from the other spouse, in the event of divorce. Or they are thought of in the context of […]
As of June 16, 2020, approximately 40% of diagnosed COVID-19 cases in the City of Chicago have occurred in people under the age of 40.While a Power of Attorney for Healthcare (POA) is typically included in a more comprehensive estate plan along with a Power of Attorney for Property, Will and/or Trust, many people under the age of 40 do not have a comprehensive estate plan, and therefore do not have a Power of Attorney for Healthcare.People who do not have children are even less likely to have a POA and estate plan set up than their contemporaries with children.
Except for emergency matters, Illinois Courts have been largely closed since mid-March due to COVID-19 orders and restrictions, putting many families in limbo as they try to finalize their divorce proceedings. In an effort to allow couples to continue finalizing their divorces, many counties have transitioned to alternative methods for parties to finalize a divorce while the court system is shut down, including virtual divorces.