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Tuesday, April 16, 2019

Struggling with Property Taxes? Your Local Real Estate Attorney Can Help!

Property tax is essential in the Chicago area. Without it, we wouldn’t be able to fund the majority of public services we’ve come to depend on. Unfortunately, however, people across the nation to find themselves with an unnecessarily high property tax bill on their real-estate investments each year. Property taxes can be a real burden, but with the help of a good real estate attorney you can avoid paying more than your fair share.

 


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Tuesday, April 9, 2019

Top 3 Tips for Managing Estate Taxes

Much like filing your taxes, planning your estate is seldom easy and never fun. It requires you to think deeply about the circumstances you will leave your loved ones in after you pass. This can be tough to handle for anyone, but fortunately a good estate planning lawyer can help guide you though the process of planning an estate – a process that is often complex and fraught with pitfalls.

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Tuesday, March 26, 2019

What is a Short Sale, and How Can It Help You?


Generally, people do not pay cash upfront for their first real estate purchase. Instead, most homes are purchased using a mortgage. Mortgages charge fees and interest, which means they can drive up the price of the home purchase. Most people expect their home to appreciate in value over time to cover this extra cost. However when it does not, home buyers may find themselves considering a short sale.


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Tuesday, March 19, 2019

Trusts vs. Wills: Understanding the Most Common Estate Planning Tools

Estate planning is complicated, and you should never attempt it alone. With that being said, it’s critical to educate yourself on the important aspects of estate planning. Wills and trusts are two of the most common legal tools in an estate planning lawyer’s toolbox, so you should consider whether either – or both – should be a part of your final arrangements.

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Tuesday, March 12, 2019

How Hiring an Attorney Can Save You Big on Closing Costs

After you save for a down payment, find the house of your dreams, secure your credit and get approved for a mortgage you submit an offer. In some markets – particularly the high-demand Chicago neighborhoods – this can be substantial. Even after the offer is accepted, however, there is still the final hurdle to homeownership—the pre-closing process and closing itself. Unless you’ve been in the real estate game for a long time, the sheer magnitude of the mounting expenses can go well beyond what you believed you had to pay for your new home. It’s enough to send any sane person running. Luckily, having a good real estate lawyer in your corner during the final countdown can make all the difference, even when it comes time to pay the closing costs on your new home.

 


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Thursday, March 7, 2019

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 how specialized the concepts and vocabulary related to the execution of an estate can be. A skilled estate planning attorney is an important partner in the process of setting up your will. But just to give you a better idea of who and what is involved in the execution of your estate, or if you’ve been named as the executor of a will yourself, here is some helpful information that may help you grow more comfortable with the process.


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Tuesday, March 5, 2019

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 has become a useful way for real estate investors to capitalize on niche markets. However, while wholesaling can be used as a strategic approach for real estate investors with large portfolios, it’s a process that must be carried out very carefully. The legality of wholesaling in real estate is not nearly cut-and-dried, so it’s critical to have the assistance of a good real estate lawyer before attempting this complex transaction.


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Thursday, February 28, 2019

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 for your loved ones as they work to carry out your last wishes. Having a good estate planning attorney on your side can help you avoid some of the common estate planning mistakes that force people into probate court. But before you start searching for the best estate planning lawyer near you, it’s helpful to understand a bit about what probate courts do and how people end up having to deal with them.


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Tuesday, February 26, 2019

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 unfortunate individuals, homeownership may be impossible. A skilled real estate lawyer can help you manage closing costs and surmount all of the legal and financial barriers to homeownership.

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Thursday, February 21, 2019

Five Things to Consider Before Executing a Power of Attorney

Power of Attorney agreements can convey vast amounts of legal authority, and they can raise a great deal of legal and financial risk. As a result, anyone considering executing a Power of Attorney should contact a licensed estate planning attorney in their area. However, here are a few things to keep in mind if conveying Power of Attorney ever becomes an issue.

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Wednesday, February 20, 2019

Short Sales and Foreclosures – Confusing Similarities and Critical Distinctions

When people are unable to live up to their commitments in a real estate financing arrangement, they often find themselves facing a foreclosure or a short sale. However, the rights and responsibilities associated with the different options facing real estate borrowers in default vary greatly. A good real estate lawyer can help mortgage borrowers manage their various options, each of which offer different degrees of legal and financial liability.


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