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Tuesday, May 21, 2019

Should a Charitable Trust Be Part of My Estate Plan?

There are many options available to you in designing an estate plan that is just right for you and your goals, and with the help of a trusted advisor you can put the pieces in place in a way that perfectly suits your needs. A charitable trust is one of the many tools you have at your disposal – but only a good estate planning attorney can give you the advice you need you make sure your estate plan suits all of your financial and personal needs.


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Thursday, May 16, 2019

What Happens if You Inherit a Property in Foreclosure?

 Knowing what will happen to your home or real estate properties after you pass is an important part of proper estate planning. However, it is an unfortunate fact that many elderly people face challenges paying their mortgages. This can add to the already daunting legal challenges that come with planning an estate, and sometimes properties our pass to inheritors in a will while the property is undergoing foreclosure proceedings. These circumstances raise unique legal issues that must be addressed with the help of a good real estate attorney.

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Tuesday, May 7, 2019

What Happens If Your Landlord Defaults on the Mortgage?

What happens if your landlord ends up in foreclosure after defaulting on the mortgage? In most U.S. jurisdictions a tenant cannot be immediately evicted or forced to leave a unit when a landlord is in foreclosure. And no matter how dire his financial straits may be, landlords are not permitted to turn off utilities, change the locks, or board up a building. And if any of these things have happened to you – call M&A Law Firm today.



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Tuesday, April 30, 2019

Living Trusts, Revocable Trusts, and Pour Over Wills - What's the Difference?

In Illinois, as in most states, there are several tools that are especially helpful to have at your disposal. Of special interest here are the estate planning instruments involving the establishment of a trust: inter vivos trusts, revocable living trusts, and pour over wills.  But what are these estate planning mechanisms, and how they can serve you in achieving your proprietary goals? Read on and learn!

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Tuesday, April 23, 2019

Mortgages 101: What Every Homebuyer Needs to Know

When you’re purchasing your first home, it’s easy to think that you’re saving time and money by not working with a local real estate attorney. However, a good real estate attorney can help guide you through the increasingly complex process of securing a mortgage that works for you. This will not only help you save money over the long-term, it will also help you avoid the costly and traumatic experience of going through a foreclosure.


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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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