Filing for bankruptcy is a major life change. If you have been through the process and come out the other side, congratulations! You’ve survived and now you have been given an opportunity for a fresh start. We know it might not always seem like a good thing - and we know it isn’t always easy. However, being offered a new beginning doesn’t come often, so now is the time to make the most of it. One thing is certain: Read More

Estate planning, the legal term for determining what happens to your remaining money (known as assets) and belongings after you die, is an essential part of any adult’s life. It can be particularly important for couples with children, as a Will can dictate who takes care of your children if you were to unexpectedly pass away before they became legal adults. Creating the actual Will is where things can get Read More

When purchasing a house, there are many things to consider. Purchasers spend their time trying to find matching appliances, negotiating prices, and waiting on approvals. Title insurance, however, is often not something buyers think about much. Surveys have shown it is actually currently more popular than ever, and on a steady rise. So what is it? In the same way that car insurance protects your car and medical Read More

One of the most common questions bankruptcy professionals receive from individuals who have just filed for bankruptcy (or are thinking about filing) is: “Will I lose my home?” As much as we wish that we could provide a succinct answer, the truth is that your chances of keeping your home if you file for bankruptcy depends on several factors. It is generally true that filing for Chapter 13 bankruptcy is better for Read More

When you’re involved in a financial transaction as complex and high-stakes as a home sale, you want assurances, as a seller, that a prospective buyer has the ability to perform under the terms of the contract. In other words, you want (and need) assurances that a buyer can pay the agreed-upon price. The proof of funds letter is crucial in this situation for the sellers (and, often, the buyer).  What are the Contents Read More

Long gone are the days that estate planners need only make a plan for their physical assets like their car, house, boat, bank accounts, and other property. Two decades into the 21st century, every estate planner needs to do something about his or her digital assets. This blog will provide you with general best practices for taking care of these important assets.  What is a Digital Asset? In 2016, the state of Read More

On top of worrying about your debt that is not going down in any meaningful way anytime soon, the constant phone calls, letter, and text messages from your creditors do not help you get in a healthy mindset to deal with your financial issues. Want them to stop? You should consider filing for bankruptcy so you receive what is referred to as the “automatic stay.” This blog will take a look at this provision and how it Read More

The old saying “buyer beware” does not exactly apply in real estate transactions involving residential property. In Illinois, the seller of a residential property has more than a few obligations when it comes to revealing information about the property he or she is selling. For many people, buying or selling their home is the most complex financial transaction they will ever engage in. This blog will explain some of Read More

Most people understand that the foundation of many estate plans is a Last Will and Testament (commonly referred to as, simply, a Will). This estate-planning document can leave certain assets to specific beneficiaries, name successor guardians for your minor children, and accomplish other things. Besides a Will, one of the documents most commonly used in estate planning is a trust. There are many types of trusts, but Read More

Property transfer tax, sometimes referred to as “deed tax”, “stamp tax”, “mortgage registry tax” or even a “capital gains tax,” has been in existence in the United States for several decades now. Simply put, it refers to a once-off fee that local governments charge when there has been a change in property ownership within its jurisdiction. Some states, however, such as Wyoming, Mississippi, New Mexico, North Dakota Read More