A 1031 exchange lets Illinois real estate investors sell an investment property and reinvest the money into a new property. This lets them delay paying capital gains taxes. However, they need to follow specific rules about timing and the types of properties involved.
If you’re considering this strategy in 2026, our DuPage County, IL 1031 exchange lawyer can help you navigate the process correctly. Attorney McCormick at The McCormick Law Firm, LLC takes a guy-next-door approach that makes complicated legal topics like this easy to understand. Call today, and you’ll work directly with him throughout your transaction.
What Makes a…
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Getting married in Illinois can significantly change your estate plan. Marriage affects how your assets may be distributed. It can also create new rights for your spouse that override provisions in an outdated will.
If you got married in 2026, our DuPage County estate planning lawyer can help you understand what needs updating. You’ll work directly with Attorney Eron McCormick, who takes a guy-next-door approach that makes complicated legal concepts easy to understand.
Does Marriage Automatically Change Your Will in Illinois?
Marriage does not automatically revoke or change your will in Illinois. Under 755 ILCS 5/4-7, a…
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You can convert a Chapter 7 bankruptcy to Chapter 13 in most situations. This option exists specifically to give you flexibility if your circumstances change. It also helps if Chapter 7 turns out not to be the right fit for your situation. A DuPage County bankruptcy lawyer can help you understand whether converting your case is the right move.
If you contact The McCormick Law Firm, LLC, you’ll work directly with Attorney Eron McCormick. He takes a genuine guy-next-door approach to explaining your options in a way that actually makes sense.
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Earnest money is a deposit a buyer pays when they make an offer on a home to show the seller they are serious about the purchase. It is not a fee that disappears. It goes toward the purchase price at closing. But if the deal falls apart, what happens to that money depends on why the transaction did not go through and what the purchase contract says. In some situations, you can get it back. In others, you cannot.
If you are buying or selling a home in 2026 and have questions about earnest money, a DuPage County real estate…
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If you die without a will in Illinois, you lose the opportunity to direct what happens to your belongings, your money, even your children. Illinois has a fixed set of rules that takes over when someone passes away without leaving written instructions. Those rules do not know your story, your relationships, or what you would have wanted. They just follow a formula. The people you love most may end up with less than you intended, or nothing at all. A Wheaton, IL will and trust lawyer can help you take control of what happens to your family before that decision…
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Both Chapter 7 and Chapter 13 bankruptcy can slow down or stop a foreclosure, but they work very differently and offer very different outcomes for your home. Chapter 13 is generally the stronger option if keeping your home is your main goal. Chapter 7 can buy you time, but it does not fix the underlying mortgage problem. If you are behind on your mortgage and worried about losing your home in 2026, a Naperville, IL bankruptcy lawyer can help you figure out which path makes the most sense for your situation before it is too late.
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A commercial lease agreement is one of the most consequential documents you will sign as a property owner. Unlike a standard home rental, a commercial lease is a long-term, high-stakes contract that can lock you into terms for years and leave you exposed to financial and legal risk if the language is not carefully drafted. These contracts are not heavily regulated in Wisconsin the way residential leases are. A poorly written agreement can cost you far more than an attorney ever would. If you own commercial property in 2026, talking to our Northwoods Wisconsin real estate lawyer before finalizing any…
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You can avoid probate in Illinois by making sure your assets have a clear way to pass directly to your beneficiaries without going through the court system. There are some common tools for doing this, such as a revocable living trust and beneficiary designations on financial accounts. An estate plan that uses these tools correctly can allow everything you own to pass to your loved ones quickly, privately, and without the time and expense of probate court. If you want to build that kind of plan in 2026, a DuPage County estate planning lawyer can help you put it together…
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Chapter 7 bankruptcy gets rid of many debts, but not all of them. It is one of the most powerful tools available to people overwhelmed by debt. For the right person, it can wipe out tens of thousands of dollars in what they owe. However, certain types of debt survive a Chapter 7 discharge no matter what, and knowing the difference before you file is important.
According to a study published by the American Bankruptcy Institute, more than 62 percent of U.S. bankruptcies are caused by medical debt, making it one of the most common reasons people turn to…
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The main difference between a revocable trust and an irrevocable trust comes down to control. Each type serves a different purpose, and choosing the right one depends on your goals, your assets, and your situation. If you are thinking about setting up a trust in 2026, the Wheaton, IL estate planning lawyer at The McCormick Law Firm, LLC can help you figure out which option makes the most sense for you.
In Illinois, trusts are governed by the Illinois Trust Code, 760 ILCS 3, which sets the rules for how these trusts must be created, administered, and interpreted. Understanding…
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Buying real estate is one of the biggest purchases many people make. It is exciting, but it can also feel overwhelming, especially when you want to make sure you are not walking into a property with serious hidden problems. Wisconsin has a law designed to protect buyers in exactly this situation.
Under Wisconsin Statute § 709.01, sellers of residential real estate in Wisconsin must give buyers a written property condition report before an offer is accepted. This law exists so buyers have honest information about the property before they commit to buying it.
Understanding how the property condition report…
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One of the biggest fears people have about filing bankruptcy is losing everything they own. According to the federal court system’s official resource, the Bankruptcy Code allows individual debtors to protect certain property from creditors because it is exempt under federal or state law.
Illinois takes that protection seriously, recently expanding those protections in 2026 for the first time in decades. If you’re considering filing for bankruptcy, a DuPage County, IL bankruptcy lawyer can walk you through exactly where you stand.
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Your priorities are a personal choice when you begin considering residential real estate. However, young families in Illinois might focus on safety, affordability, school quality, and the home’s overall condition. Buying a home is a major step that affects your family’s daily life and financial future.
The right home can give your family stability and peace of mind. However, hidden problems or legal issues can create stress and unexpected costs. As of 2026, our DuPage County, IL real estate lawyer helps families understand their rights and avoid mistakes when buying a home.
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