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Recent Blog Posts
Changes in Illinois Estate Planning and Probate Laws
If you are contemplating having an estate plan prepared, or if you are dealing with probate for a loved one, it is important that you be fully informed about several recent changes in the law that might affect you and your loved ones in connection with those subjects. Estate planning allows you to make provisions for those you care about, including the distribution of assets, and naming a person to make decisions on your behalf in the event you become incapacitated.
Probate is the legal process of administering your will, paying any outstanding debts, and distributing the remaining assets to those you have named in your will or trust. This means that any law passed regarding estate planning also affects probate. It is always a good idea to consult with a knowledgeable Oak Park, IL, probate attorney who can guide you through the process, and/ or help you plan for your own probate in the future. The following are some of the recent probate changes in the state of Illinois.
Why Would a Guardian Be Appointed for a Child in Illinois?
In addition to divorce, child custody, asset division, spousal support and child support, guardianship matters fall under the category of family law. Usually, only a child’s parents have the authority to make decisions regarding the care of a child, but sometimes, a parent is unable or unwilling to make those decisions, and so a guardian must be appointed by a family court judge.
A guardian, who is often a family member, takes on the duties and responsibilities of a child’s parents. Different types of guardianship exist, depending on the child’s specific needs. It is important to note that parental rights are not terminated when a guardian is appointed, and that a parent may file a petition seeking the discharge of the guardian.
If you have been appointed guardian of a child, or if you are the parent of a child who has had a guardian appointed, you may have questions, so it can be very beneficial to speak to an Oak Park, IL family law attorney from the Law Office of Vincent C. Machroli, P.C.. Attorney Vincent C. Machroli has been helping Illinois families with regard to guardianship matters since 1988.
What is an Emergency Motion for Parental Responsibilities?
When serious disputes arise about the allocation of parental responsibilities, the response of Illinois courts can be swift. With the goal of protecting the best interests of the child, if an emergency motion suggests a child is at risk, the courts will virtually always act quickly. A dispute may arise between parents during times when temporary custody orders are in effect or after the divorce, when final allocations of parental responsibilities have been determined.
When an emergency motion is filed, it is because one of the child’s parents has serious worries about the child’s immediate safety. If you are a parent who has such concerns, speak to your Oak Park, IL child custody attorney from the Law Office of Vincent C. Machroli, P.C. to discuss the best way to proceed. If your attorney feels an emergency motion is warranted, he will likely set a court date quickly.
What You Should Know About Emergency Custody Motions
An emergency motion for parental responsibilities is only granted when one parent asks the court for an immediate response regarding an issue with the other parent that threatens the safety of the child, and the court agrees. The parenting plan may also be changed temporarily to award sole custody of the child to the parent filing the emergency motion, but this should not be considered a final decision.
How Could the New Illinois Trust Code Affect a "Silent Trust"?
On January 1, 2020, a new Illinois Trust Code replaced the then-existing Illinois Trusts and Trustees Act. The new Code introduced various changes which affected beneficiaries’ rights, trust preparation and administration, and the obligations of trust fiduciaries. With certain limited exceptions, the new Illinois Trust Code applies to all trusts created before, on or after the effective date.
These changes meant that all Illinois trust documents currently in place should be reviewed to make sure that they are in compliance with the new Code provisions, while all new Illinois trusts must be drafted to comply with the Code. If you have a "silent trust" in place at the present time, or are considering having one prepared, it is important that you speak to the knowledgeable Hillside, IL trust attorney from Law Office of Vincent C. Machroli, P.C..
How Will a "Gray Divorce" Affect My Retirement Plans?
Getting a divorce can be a challenging process at any age, but when you choose to end your marriage later in your life, you may face a unique set of financial concerns. In what is known as a "gray divorce", you will need to consider how the division of your marital property and other decisions you make will impact your retirement plans. An experienced divorce attorney can help you address the sometimes fairly complicated legal and financial issues that you may encounter in a "gray divorce", and can advise you on the best steps to take to protect your future.
Financial Concerns in a "Gray Divorce"
"Gray divorce" refers to the increasing trend of couples aged 50 and older choosing to end their marriages. If you are in this demographic, and you are either approaching or are already in your retirement, the financial implications of divorce can be significant. Financial concerns that you may need to address include:
When Can Out-of-Court Negotiations Be Used in Consumer Disputes?
Disputes between businesses and consumers are common, and while civil litigation can be one option for addressing these issues, lawsuits can be time-consuming and costly. Out-of-court negotiations provide an alternative way to resolve these kinds of issues, while possibly helping preserve important relationships.
Understanding when and how negotiations can be used is crucial for both businesses and consumers. An experienced Illinois alternative dispute resolution attorney can provide guidance on how to negotiate civil disputes, while protecting your interests.
Types of Business/Consumer Disputes
Some common types of disputes include:
Product Defects and Warranty Issues
When a consumer buys a product that does not work as advertised or is defective, they may seek to recover their losses. Disputes may also arise regarding whether a product is covered under a warranty, and/or if repairs or replacements must be provided to the consumer.
Can I Try to Settle All the Issues in My Divorce Case Through Out-of- Court Negotiations?
While the process of ending your marriage through a divorce can be challenging, it is best to try to avoid a contentious court battle. By negotiating a settlement outside the courtroom, you can save time and reduce stress, and you will be more likely to achieve an outcome that will benefit both you and your spouse. To determine the best ways to resolve divorce-related issues as amicably as possible, you can work with an experienced divorce attorney who can advise you as to your legal rights and options, as well as assist in negotiating a settlement that will meet your needs.
Issues to Address in a Divorce Settlement
As you work to complete the divorce process, you will need to address various legal issues, including:
Division of Marital Property
What Are the Benefits of Creating a Living Trust?
During the estate planning process, there are a number of documents that can be obtained to protect one’s assets and reflect one’s decisions about how matters will be handled at the end of a person’s life, as well as after their death. Living trusts are some of the most powerful estate planning documents, as they offer numerous benefits to both the trustee and the beneficiaries.
Understanding how a revocable living trust works and the advantages it provides can help families make informed decisions about estate planning topics. An experienced estate planning attorney can provide guidance on the available options, the best solutions, and the steps that will need to be followed when creating trusts or other estate planning documents.
What Is a Revocable Living Trust?
A trust is a legal document that places assets under the control of a trustee, who usually is the person that obtains the trust, and provides instructions for how assets should be distributed to specific beneficiaries. With a living trust, a person may serve as the trustee and maintain control of his or her own assets. Since the trust will be revocable, its terms can be modified at any time.
How Is a Business Valuation Performed During a Divorce?
There are numerous financial topics that will need to be addressed during the divorce process. If either spouse is a business owner, or if both spouses founded or acquired a family business together, business assets may be some of the most significant financial matters to address.
Determining the value of a business is crucial to ensure that all marital property can be divided fairly and equitably. An experienced divorce attorney can provide valuable assistance during the business valuation process, while at the same time advocating for solutions that will protect their client’s financial interests.
The Importance of Business Valuation
In Illinois, marital property must be divided equitably between divorcing spouses. To ensure a fair and equitable division, all assets acquired during the marriage, including businesses, must be properly valued. Valuing a business accurately is essential for several reasons:
How to Deal With Intentional Financial Harm During a Divorce
Divorce can sometimes bring out the worst in people. Due to the strong emotions that spouses might experience due to the breakdown of their marriage, they may lash out at each other in various ways, and in some of these ways, actions taken by one spouse can cause serious harm to the other.
In some cases, this behavior can affect a spouse financially, and they will need to determine what steps they can take to protect themselves. A skilled family law attorney can provide valuable legal help in these situations, providing guidance on the remedies that may be available to address the dissipation of marital assets.
Ways a Spouse Can Intentionally Cause Financial Harm
Intentional harm during a divorce can manifest itself in various ways, including:
Destroying Property
One spouse may damage or destroy marital property out of spite. They may intentionally destroy items that they know have a sentimental value for the other spouse, or they may damage property such as a vehicle, with the intent of making life more difficult for their former partner.
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