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Recent Blog Posts
Solid Estate Planning Can Protect Elderly from Fraud
One of the most targeted populations for scams is the elderly. Most victims are too ashamed or embarrassed to admit they have been swindled out of money, so exact numbers of victims are difficult to determine. However, studies have shown that elderly Americans are being conned out of $3 billion every year.
There are several types of ways the elderly are preyed upon—either by fraud committed by strangers or fraud committed by their own family or close associates.
Common stranger scams which are being used to gain access to elderly victims' money include the following:
- Grandparent Scam: An elderly person will receive a phone call from someone who poses as one of their grandchildren, claiming to be out of town and in a serious situation, and needs money wired to them. Scenarios that are used include a grandchild's car broken down, required medical attention, or he or she is in jail.
Talking to Your Children about Divorce
Breaking the news of you and your spouse's upcoming divorce to your children can be extremely difficult. Even the cleanest, most amicable divorces can have serious impacts on children. When going through a divorce with your family, how you choose to break the news and continue to discuss things with your children can have a major impact on how they cope in the future.
Most school aged children already know of divorce. They probably have friends whose parents have either gone through a divorce or whose parents are already separated. While you can expect your child to have a basic understanding of divorce, hearing that their parents are separating for the first time can be devastating. No parent wants to see their children confused or in pain, so it is important to take the time to plan ahead to share the news properly.
Title of Property and Estate Planning
When a person is purchasing a home, it will need to be decided how he or she wants to hold title of the property at the closing. There are several options from which homeowners can choose; however, it is important to understand that any chosen option may affect what happens to that property in the event of the owner's death.
Each of the choices have both positive and negative aspects. The following provides a general overview of each option, but it is always beneficial to discuss the options with a qualified estate planning attorney prior to making any legal decision.
Sole Ownership
Sole ownership, also referred to as ownership in severalty, is a common choice for people who are single or wish to hole a property in their name only. If a person who is married purchases a property and chooses this option, his or her spouse will often sign a quitclaim deed waiving any rights of ownership to the property.
Steps for Planning Your Prenuptial Agreement
With divorce rates in the United States on the rise, it is no coincidence that more and more couples are choosing to look into prenuptial agreements before getting married. While it was once thought that prenups were only necessary for celebrity couples or couples entering marriage with significant amounts of money, today, that is not the case. Exploring a prenuptial agreement with your partner before your wedding day can help ease stress in your relationship and provide financial peace of mind for both you and your future spouse.
Is a Prenuptial Agreement Necessary?
The first step in deciding whether a prenuptial agreement is right for you and your future spouse or not is to examine your assets. Make a checklist of both you and your future partner's finances. Explore both you and your partner's positive financial assets, but also any debts. As the average age of first time newlyweds increases, the likelihood that your future spouse could be bringing some debt to the table is significantly higher. While making your financial checklist, make sure to note things like:
Establishing Trust Funds for Special Needs Children in Illinois
Special needs children often require expensive care and treatment, and parents may worry about who will care for their children in the event of an untimely death. Parents may even seek counsel from estate planning attorneys to determine their options and gain information regarding trusts for their children with special needs.
Special Needs Trusts — The Basics
Special needs trusts are established so that parents with special needs children can put money aside to be used for a child's care at a later date. Any funds in the trust are protected and will not impact the amount of money a disabled child or person receives from other sources such social security. Even though there may be thousands of dollars in a trust fund, the individual will still retain all rights to Medicaid for health insurance benefits.
Paternity Issues: Man Found to Have Fathered Only One Twin
A unique case recently made headlines in New Jersey, where a DNA test determined that a man was the father of just one twin.The man in question (known by court record as A.S.) was asked to submit to a paternity test after a woman who had given birth to twin girls came forth seeking child support. The mother (known by court record as T.M.) had listed A.S. as the father of both babies while applying for benefits in the county she lived in. However, she also admitted to social services that she had had intercourse with A.S. and another man before becoming pregnant.
Father of Only One Twin
A judge examined the case and determined the A.S. is only responsible to pay child support for one twin. The county had put forth an application to find A.S. liable for child support payment for both children, but this claim was dismissed by court.
New Illinois Bill Addresses Digital Assets in Estate Planning
A new bill has been introduced to the Illinois General Assembly that addresses what should be done with personal online accounts when a person passes away.
A deceased person's social media accounts, such as Facebook, Twitter, email, as well as other online accounts, would all be considered physical assets and become part of a person's estate.
Senate Bill 1376 would allow the court to appoint a trustee who would then have access to the accounts in order to help settle a person's affairs. The bill currently has bipartisan support among Illinois lawmakers; however, there is opposition to the bill coming from tech companies who claim that the bill raises privacy issues.
Five Tips for Winning Child Custody Cases
Child custody proceedings are often complex and usually emotional for those involved. There are several ways you can ensure that, as you progress through your child custody case in Illinois, you are working with the process and not against it. Here are five tips to help you maintain your composure and be the responsible parent your children need while negotiating a child custody agreement.
1. Be Respectful
Exhibit the same respect toward your ex-partners and your children that you would expect your children to show toward you and others. When you ask your children to report to you about your ex-partner's activities; you are asking them to disrespect a parent which results in conflict and confusion for the child. The same is true when parents allow their children to witness or overhear heated arguments.
Nursing Homes Using Guardianship over Residents for Bill Collection
A recent report in The New York Times should serve to reinforce just how crucial it is for people to have estate planning documents in place while they are still healthy and able to make decisions for themselves, including a health care power of attorney and a financial power of attorney.
According to the report, several nursing homes are using the legal tactic of seeking guardianship over residents in an effort to gain control of the residents' finances, essentially using the guardianship petition as a method of bill collection.
Although laws do allow for nursing homes to file for guardianship in cases where a resident is incapacitated and is either being taken advantage of financially by other relatives, or where there are no relatives or anyone else appointed to protect the person's interest, the report cites case after case where nursing homes filed petitions for guardianship, but with no reason—the facility was trying to gain control of a resident's money.
Divorce Impact of Social Media
Social media is incorporated into almost every part of our daily lives. Through outlets like Facebook and Twitter, it has become a common activity for people to share their daily lives, pictures, and thoughts with the world. While these social media sites bring many positives into our lives, there can be unforeseen consequences of social media activity when dealing with a divorce. Posts, pictures, and comments can all potentially be used against you.
How Social Media Has Changed Illinois Divorce
Our society has a habit of sharing everything in our lives with friends, family members, and even strangers via social media. For some, daily posting has become almost second nature. Unfortunately, this habit has also led many to post before considering the consequences. Social media has changed how divorce attorneys find evidence about their client's spouses.
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