CALL DIAMOND LEGAL TODAY - (815) 322-8403
Have you ever heard a lawyer or financial advisor mention “funding your trust” and wondered what they were talking about? You’re not alone. Trusts are rising in popularity these days, but many people don’t really understand how they work. What is a trust, how does it work, and what does it mean to fund your trust?
In Illinois, there are many different types of trusts that a person may have created for them in order to protect their assets, their family, and their legacy. Each type of trust serves a different purpose; therefore, each would be used in different circumstances. But the question remains: with all the different types of trusts available, which one is right for you?
The percentages are different in various states, but estimates show that approximately 35-45% of all divorces filed today are filed pro se, or on your own. (Pro se is a Latin term meaning “for one’s self” or “on one’s own”.) This trend is on the rise – in some counties, a majority of divorce cases has at least one party who chooses to represent themselves.
This trend is understandable, especially during a downturn in the economy. Before making this choice, however, you should be aware of the pros and cons of filing on your own as well as common mistakes that can cost you a lot of time and money and how to avoid them.
Estate planning is something that most people should seek the help of an attorney with, but for blended families, this becomes even more important. Blended families tend to have situations that need special consideration, and that’s something that a DIY will and trust website simply can’t manage. With the help of an experienced estate planning attorney, however, you can make sure that all of your bases are covered!
Our team talks with people every day who are either considering filing for divorce or going through one. Many people…
Estate planning is something that a lot of people know they need to take care of, but only about 34% of American adults actually have an estate plan. As more and more people are learning about the benefits a customized plan can bring them, they’re also learning about common mistakes that can come with the process. We would like to help you avoid those pitfalls!
More and more people today are choosing to take advantage of “DIY” or pro se divorce in Illinois; while this…
Legal representation is not a one-size-fits-all proposition, especially when it comes to family law services. What worked for your neighbor or colleague will not necessarily fit your needs. This is why at Diamond Legal, we offer a range of services and help you figure out which options are right for you.
When you’re considering or going through a divorce, it affects almost every aspect of your life. Some of those aspects are obvious: your budget, your schedule, your living arrangements, etc. One area that is often missed during divorce, however, is the importance of updating your estate plan.
What should young families be thinking about when it comes to estate planning? This is a question that many people don’t consider – not because it’s not important, but because most of us tend to think of estate planning as a topic for older or richer people.
The truth is, estate planning is something that every family should look into. It involves deciding what happens to your assets after you pass, but it goes so much deeper than that. Who will take over raising your children? How will your children be provided for, both as minors and later in life? Who will make those decisions – you, or the state?