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How to Leave Money to Your Kids – But Not Their Spouses

How to Leave Money to Your Kids – But Not Their Spouses

Let’s face it: not everyone likes the people their children choose to marry. And when you’re planning to pass on your assets to your children, you may wonder whether their spouse will receive those assets, as well.

If you’re taking the first steps thinking about this process, you’ve probably already learned the difference between a will and trust. They are both legal documents that an individual can use to outline what happens to their assets when they die, but there are some differences between the two.

Prioritizing Children: Building a Strong and Healthy Co-Parenting Environment
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Prioritizing Children: Building a Strong and Healthy Co-Parenting Environment

When a marriage ends in divorce, the spouses involved already know that a lot of transitions are headed their way. Whether or not the divorce is mutually agreed upon, one thing should remain a priority: the well-being of the children. One way that the state of Illinois helps to protect this is by encouraging a strong co-parenting relationship whenever possible.

Everything You Need to Know About Assisted Reproductive Technology for Your Illinois Estate Plan

Everything You Need to Know About Assisted Reproductive Technology for Your Illinois Estate Plan

The CDC reports that roughly 2% of infants born in the United States every year are conceived using assisted reproductive technology (ART).

Techniques for ART include fertility treatments in which both eggs and embryos are handled, including artificial insemination, in-vitro fertilization, cryopreservation (genetic material frozen for later use), and surrogacy.

But how do these techniques factor in when you’re building your estate plan for your family?

Understanding Co-Parenting Laws: Your Guide to Rights and Responsibilities
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Understanding Co-Parenting Laws: Your Guide to Rights and Responsibilities

When you get divorced, it doesn’t just affect your life – especially if you have children. One of the things we help our clients to navigate are the complexities behind co-parenting agreements. Our goal is to protect your rights as a parent, but also to help you prepare for the responsibilities the court will require, as its first priority is the best interests of your children.

Understanding the Importance of Medical Power of Attorney

Understanding the Importance of Medical Power of Attorney

A medical power of attorney is a legal document that designates an individual, referred to as the attorney-in-fact, to make healthcare decisions on your behalf should you become unable to do so due to incapacitation. Unlike a general power of attorney, a medical power of attorney is durable, meaning it remains in effect even if you become incapacitated. This is critical in healthcare situations where swift and informed decisions often need to be made.

3 Celebrity Estate Plan Mistakes, Probate Disasters, and Tragic Lessons

3 Celebrity Estate Plan Mistakes, Probate Disasters, and Tragic Lessons

Life rarely turns out as expected, which is why you should carefully plan out how your estate will be distributed after you pass away.

Learn from the mistakes of these famous celebrities who died without an up-to-date estate plan. If they had had a will or trust properly set up, it could have saved their families a great deal of heartache, time, and legal fees.

The Power of Your Voice: A Guide to Medical Power of Attorney

The Power of Your Voice: A Guide to Medical Power of Attorney

There’s a lot of talk about healthcare coverage, but not much about having protection in place in the event that you aren’t able to make your own decisions – or in the case that a loved one can’t. Wondering what would happen if you were incapacitated, or even worse, if your spouse, child, or parent were in need of someone to make decisions for them, can be terrifying. Fortunately, there is an answer: a medical power of attorney.

How Do You Protect Assets in a Remarriage in Illinois?
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How Do You Protect Assets in a Remarriage in Illinois?

While remarrying can be an exciting and joyous celebration of love, for someone that has accumulated substantial assets, it’s also a time to think logically about protecting those assets.

This is particularly true for those in parts of Illinois, including McHenry. Illinois has very specific laws that will affect how property is handled during divorce proceedings.