What is an estate inventory? An estate inventory is essentially a list of assets that the deceased owned. It can include personal property, real estate, automobiles, bank accounts, investment accounts, business interests, and animals. It is the responsibility of the executor or personal representative to marshal...
Many individuals incorporate annual gifting into their estate planning strategy for good reason – it is an easy way to remove assets from what may otherwise be a taxable estate without any gift tax consequences to the donor. What is considered a gift? Generally, any transfer...
According to the Illinois Marriage and Dissolution of Marriage Act, a Right of First Refusal relates to when a party intends to leave the minor child or children with a substitute child-care provider for a significant period of time. In that event, that party must first...
With everyone heading back to campus, it is important to discuss an important piece of estate planning with your young adult. While typically Power of Attorney documents are thought to be primarily for more established adults, anyone over the age of 18 should have them in...
What is Parental Alienation? Divorce with children is difficult on its own, and parental alienation can make divorce even more challenging. Parental alienation is when one parent purposely undermines and sabotages the child’s relationship with the other parent. i The offending parent uses a variety of tactics,...
What is Relocation Under the Illinois Marriage and Dissolution of Marriage Act, a parent's relocation with the child to a new residence is governed by Section 609.2. The Illinois Marriage and Dissolution of Marriage Act has three definitions of relocation: "(1) a change of residence from the...
Although many weddings have been put on hold due to the COVID-19 pandemic, couples are continuing to become engaged and plan for the future. The prolonged period between the engagement and the wedding offers couples a unique opportunity to explore the protections of a premarital...
What is Dissipation, and How can it affect my Case? In divorce proceedings, dissipation is the spending, by one party, of marital property for a non-marital purpose. Dissipation must occur after the marriage is "irretrievably broken." Dissipation can take many different forms but is most commonly...