Blog

How Does Bankruptcy Affect Federal Tax Debt?

When filing for Chapter 7 or Chapter 13 bankruptcy, federal debt may not be automatically discharged. Most tax debts are difficult to eliminate, and complicated bankruptcy laws are often difficult to understand without a bankruptcy attorney who understands federal laws.

Read More

Why It’s Risky to Die Without an Estate Plan

An individual works hard to accumulate assets and build their net worth. Over a lifetime, assets such as real estate, businesses, art work, investment accounts, and cash savings can grow into a sizable sum. An estate plan helps shield these assets from taxes and ne’er-do-wells eager to get their hands on them.

Read More

Copies of Estate Planning Documents May Not Be Enough

In recent years, advances in technology has enabled Americans to maintain digital files and copies of documents almost effortlessly. While the temptation to do away with paper copies of important documents in an effort to clear away clutter and become better organized is strong, when it comes to estate planning documents, copies may not be legally sufficient. Although backing…

Read More

Debts that Must Be Paid after Bankruptcy

Bankruptcy is a legal way to get a clean financial slate, but there are some limitations. When people file for personal bankruptcy in Arlington Heights, they start a federal process that usually leads to a creditor meeting, court hearing or both.  They also put a pause on all debt collection. After a debtor has filed for bankruptcy, their creditors…

Read More

Why You’re Never Too Young to Think About Estate Planning

When most people think of estate planning, they think of older people, or individuals who are extremely wealthy. They very rarely think about estate planning for younger, more ordinary individuals unless the person leads a very risky lifestyle or there is a serious illness involved. Unfortunately, the misconception that only the old, rich, or sick need an estate plan…

Read More

Estate Executors: What are the Real Responsibilities?

While many consider it an honor, being named the executor of an estate in Illinois can be extraordinarily challenging. Taking on new administrative responsibilities after dealing with a loss is tough, even in the best of circumstances. Add legal responsibilities and family struggles into the mix, and it is easy to see how an estate executor could become overwhelmed.

Read More

How the Modified Comparative Negligence Rule Could Affect Your Case

Until just a few short decades ago, victims of personal injury were barred from collecting monetary damages in most states if they were even slightly at fault, even if the injuries were mostly due to another party’s actions or negligence. Fortunately, the state of Illinois has adopted what is commonly referred to as the Modified Comparative Negligence Rule to…

Read More

Filing Chapter 13 Bankrupty Can Cease Foreclosure Proceedings

Foreclosures are down across the country, however, that’s little consolation for homeowners who are currently facing the loss of their homes. Homeowners who are behind on their payments and are facing foreclosure proceedings can file Chapter 13 bankruptcy to halt the process.

Read More

Planning for Succession in a Living Trust

Creating a living trust through an experienced estate planning attorney allows maximum control over trust assets during a lifetime. Planning for succession with a revocable living trust will protect assets in case of physical or mental incapacity due to age or illness. Appointing a successor trustee early will assure that assets are managed according to plans for beneficiaries.

Read More

Filing Bankruptcy Without Your Spouse

Married couples can file Chapter 7 or Chapter 13 bankruptcy together or separately. Understanding the impact of liability for the non-filing spouse is an important consideration before filing. A bankruptcy attorney who knows Illinois bankruptcy laws can provide legal advice for filing bankruptcy without a spouse.

Read More

REQUEST A CONSULTATION