Planning a trust can initially feel confusing, especially when it is part of an estate plan that already includes a willl. The reality, though, is that setting up a trust can be a very effective way to manage and transfer property or other assets. Whereas a will is a plan that is only executed after you pass away, some trusts can take effect while you are still living.
At A. Traub & Associates, our Lombard, IL estate planning attorneys can help you set up a trust and appoint a trustee. We favor a personal approach for estate planning, tailoring our
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Creating a Parenting Plan in an Illinois Divorce
Divorcing with children can be difficult. Their living arrangements will change drastically, and this change can be hard on them. Children thrive on predictability and routine, which is why it is important that you establish a parenting plan prior to finalizing your divorce. Even if things are friendly now, and you and your spouse agree on the parenting situation, having a plan in writing is required by law and it can save you unwanted costs and headaches later.
At A. Traub & Associates, our Arlington Heights, IL family law attorneys can help draft and review your parenting plan. Drawing on
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How to Divide Three Important Assets in an Illinois Divorce
Divorce is often an emotionally draining experience, but it can also be financially daunting, especially when it comes to the assets you own. Splitting your assets during divorce is often a lengthy process, and it can be very frustrating if you and your ex-spouse get into bitter arguments about who gets what or how certain property should be allocated.
At A. Traub & Associates, our Schaumburg, IL family law attorneys have over a century of combined experience, which has given us a deep understanding of how to handle property disputes. We will tailor our strategy to suit your needs, keeping
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What You Need to Know About the Right of First Refusal in Illinois
If you are a parent who is thinking about getting a divorce, you likely have many concerns regarding custody. You may worry about how your child will adjust to a two-home arrangement or how they will take the news of the divorce. You may also worry about how much time you will get to spend with your kids now that you must share parenting time with your child’s other parent.
It can be incredibly difficult for parents to transition to a more limited parenting arrangement after they have been highly involved in their children’s lives on a daily basis.
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What Is the Best Way to Pass Down Property in an Estate Plan?
Deciding how to pass down property is one of the most important decisions you’ll make for your family. Get it wrong and your loved ones could face a long, expensive probate process or end up fighting over who gets what. A Schaumburg, IL estate planning attorney can help you choose the right tools for your specific situation.
At A. Traub & Associates, we don’t believe in one-size-fits-all plans. We’re a large firm that keeps things friendly and personal, and we build estate plans around your family’s real needs, not a generic template.
What Are the Most Common Ways to Pass
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How to Handle Debt and Divorce
The division of marital property is an essential part of the divorce process, but what some people forget is the division of debts. Whether credit cards, car loans, or student loans, it is important to take a close look at the debts that have accrued as a couple. With the help of a Schaumburg, IL family law attorney, you can work toward a carefully crafted property agreement.
Every state has its own approach to dividing property, money, and debts. In Illinois, these are split according to what is equitable, not necessarily even, and the courts take various factors into
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Your Rights to Receive or Refuse Death-Delaying Procedures
As you look forward to the future, you will need to make some important decisions about the disposition of your property and the care of your dependents. These are the considerations that most people think of when they hear the term “estate planning.” Estate planning, however, also gives you the ability to make advance decisions for your own medical care and treatment so that in the event that you are disabled or otherwise incapacitated, there will be no doubt regarding your wishes.
At A. Traub & Associates, we know how sensitive estate planning can be. Our Lombard, IL estate planning
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When Do You Need To Modify Your Estate Plan?
Having a comprehensive estate plan in place can save you a lot of stress and provide your loved ones with direction. However, an estate plan is complete after formation. There may be times when you have to revisit your plan to make sure it still reflects your wishes, whether that means updating your will, powers of attorney, or other documents.
At A. Traub & Associates, we have over a century of total legal experience, giving us unparalleled insights into how to effectively draft an estate plan. When you work with our Schaumburg, IL estate planning attorneys, we can inform
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Common Problems With the Probate Process
A major component of estate planning involves preparing for probate. Even if you have a will drafted, the people who benefit from your estate may still struggle with this court-supervised process. However, there are steps you can take to make probate less difficult.
At A. Traub & Associates, our award-winning Arlington Heights, IL probate lawyers can represent clients who are interested in drafting an estate plan, as well as beneficiaries who are currently going through probate in court. We have over a century of combined experience, which includes successes in litigation on behalf of our clients.
What Is Probate
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4 Benefits of Divorce Mediation
While some people see the end of their marriage approaching, others find that divorce is unexpected. But whether they are ready to divorce or not, people often express feeling blindsided by the legal complexities and financial costs of dissolving their marriage.
Divorce can be expensive and difficult, but one way to make the process easier is through mediation. If couples are able to work together with a trained mediator to resolve the issues in their divorce, they can complete the process much more quickly and efficiently.
At A. Traub & Associates, our Schaumburg, IL divorce attorneys work on providing
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The Challenges of High Net Worth Divorce
The process of property division is often a challenging part of any divorce. However, when high net worth comes into the equation, things can get extremely complex and very contentious. It is a good idea to engage a qualified lawyer to help guide you and your soon-to-be-former spouse with minimal stress.
At A. Traub & Associates, we know how to navigate the stresses that come with high asset divorces. Our Lombard, IL family law attorneys have received over 150 5-star reviews from satisfied clients, earning special praise for our “responsive, flexible” approach and personable service. We will review your financial
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Dividing Intellectual Property in an Illinois Divorce
During a divorce, most people think about how things like cars, real estate, and retirement accounts will be divided between the spouses. But, as our society becomes increasingly information-driven, another major category of property to be split is intellectual property. In a high net worth divorce, dividing these unconventional assets can be a major source of argument between the spouses.
At A. Traub & Associates, our Arlington Heights, IL divorce lawyers are equipped to handle complex property division. Our attorneys have been recognized as Super Lawyers, so you can trust that we will handle your case with proper diligence
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What to Expect in Contested Guardianship Cases
When someone can’t manage his or her own finances or needs help addressing basic needs due to a disability, another party can petition for guardianship over them. When the court names somebody as a guardian, he or she can make important decisions on behalf of the disabled adult. However, these cases get much more complicated when the petition for adult guardianship is challenged.
At A. Traub & Associates, our Schaumburg, IL estate planning lawyers can help you navigate the challenges of a contested guardianship case. We have earned over 150 positive reviews from grateful clients, so when you work
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Looking After Pets in Your Estate Plan
An estate plan generally involves human heirs, such as children and grandchildren, but this is not always the case. Some individuals have non-human dependents to consider. Does that mean everyone should include their pet in an estate plan? Not necessarily, but it might be worth considering if there is even the slightest possibility that your companion may outlive you. It is important to understand when this kind of provision is legally feasible and how you can take the first step toward implementing it in your estate plan.
At A. Traub & Associates, we know how much your pets mean to
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Why Having a Strong Estate Plan Matters
A comprehensive estate plan is important for protecting your beneficiaries and making sure your preferences for end-of-life care are respected. However, a recent caring.com survey found that less than a quarter of Americans have a will in place. If you need help setting up an estate plan – or simply don’t know where to start – reach out to a Schaumburg, IL estate planning attorney.
At A. Traub & Associates, we have built up a reputation for providing clear legal guidance and attending to our clients’ needs, resulting in over 150 5-star reviews. We can draft and review
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How to Handle Property Division in a Contested Divorce
Deciding who keeps what is often one of the hardest parts of a divorce. If you and your soon-to-be ex disagree about how to split up your shared property, it is important to know how Illinois law addresses the division of assets during a divorce. At A. Traub & Associates, our Arlington Heights, IL divorce lawyers have over 100 years of combined legal experience, and we can guide you through the most difficult parts of asset division.
The Difference Between Marital and Separate Property (And Why it Matters)
In Illinois, asset division usually starts with making the distinction between
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