How Hiring an Attorney Can Save You Big on Closing Costs
The process of buying a house can be daunting. Beyond the emotional roller coaster of showings and offers, you must somehow walk the line between not getting attached and envisioning your future children (or pets) playing in the backyard. It means exercising patience and resilience while also moving at lightening...
Your Roles and Responsibilities as Executor of a Will
Everyone should have a will. It’s a keystone of any estate plan, and it’s a critical way to ensure that your assets pass to your loved ones – and not the state – after you pass. It’s easy to be intimidated by some of the technical aspects of estate planning, particularly given...
What Every Real Estate Investor Needs to Know About Wholesaling
Wholesaling real estate has become increasingly popular over the past few years in Chicago, particularly the south side and around Cook, Kane and Dupage County in general. In this potentially profitable endeavor, wholesalers sell their properties to buyers who are looking to pick up multiple real estate investments at once. Wholesaling real...
Estate Planning Mistakes That Can Land You in Probate Court
Estate planning can be a challenging process, but it only becomes more difficult if legal issues arise that require resolution in probate court. Setting your affairs in order to make sure things run smoothly after your passing can be a delicate process, and estate planning mistakes can cause costly and painful delays...
Closing Costs May Add Unanticipated Expenses to Your Home Purchase
For many, purchasing a home is a lifelong dream. However, buying a house is a complicated undertaking that raises a great deal of legal and financial liability. In fact, the costs and challenges associated with closing on a home are too great of a burden for many Americans to shoulder. For these...
Five Things to Consider Before Executing a Power of Attorney
A Power of Attorney agreement is one of the most powerful contracts recognized by American law. It is a written conveyance of one person’s legal authority – the “principal” – to another – the “agent.” While these agreements can be standard for medical procedures and common lifetime planning practices, a Power of...
Short Sales and Foreclosures – Confusing Similarities and Critical Distinctions
Across America, real estate investors and home owners alike are making real estate purchases made possibly by our system of real estate financing and mortgages. Rather than paying the entire cost all at once, credit-worthy property purchasers may place a fractional down payment on their real-estate investments. A lending institution will provide...
The Law and Policy Behind Like Kind Exchanges
Section 1031 of the Internal Revenue Code, 26 U.S.C. § 1031, allows taxpayers to defer tax recognition of what would otherwise be considered a taxable capital gain when they exchange certain types of property for other property. This section of the law allows taxpayers to avoid paying taxes on...
Entering a Commercial Lease? Get a Real Estate Lawyer.
Starting a new business can be incredibly exciting. Entrepreneurs spend weeks, even months, hunting for facilities and equipment that are just right for their businesses. Typically, this involves pouring over every tiny detail of the building’s layout and amenities, thinking carefully about how it might impact operations or make the...
The Benefits of Real Estate Law To Homeowners
For many people, homeownership is a great source of pride and joy. And why shouldn't it be? In a society where real estate properties get more and more expensive by the day, being able to buy a house is indeed a great accomplishment.
While there's no denying the tremendous...
