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When you have worked hard to build up a small business, you probably want that business to become a part of your legacy. There are steps you can take during the estate planning process to give your business the best chances of surviving and thriving long after you are gone. Or, if you know that your business is not likely to survive you for any reason, you can plan for the people you care about most to benefit from the company in another way. Small business owners should be represented by a Kendall County, IL estate planning attorney who
Continue Reading Small Business Estate Planning 101

There are several ways you can prepare to transfer the title to your house after you are gone. Your options may include using a will, a trust, or a Transfer on Death Instrument (TODI). Some methods of passing your real estate on to your loved ones posthumously are more efficient – and easier for your beneficiary – than others. Your house is likely one of your most valuable assets. Most homeowners work hard to buy their homes and have put a great deal of work into it over the years. You have probably invested a lot of time, money, and
Continue Reading Transferring the Title to Your House After Death

People make changes to their estate plans for a number of reasons. You may have become estranged from someone you had named as a beneficiary. A house you left to someone in your will may have been sold when you moved into a retirement home. Your financial situation could have changed, meaning that you have new assets to account for in your will or trust. When you choose to make changes to a will or trust, it is important to follow the correct legal procedure. Attempting to do it yourself might result in the creation of an unenforceable document.
Continue Reading How to Amend a Will or Trust in Illinois

Having a blended family can be wonderful. Many step-parents enjoy having “bonus children,” as the children may enjoy having “bonus parents.” Conversely, there may be significant conflict among blended families, especially if your step-children were already adults when you married their mother or father. Some children refuse to accept their step-parent. There are even situations where some people have step-children they barely know or have never met. You might also consider yourself part of a blended family if your own parents are divorced and you have close relationships with your step-siblings. Being part of a blended family can complicate your
Continue Reading Estate Planning for Blended Families in Illinois

Special needs trusts are essential tools for individuals with disabilities to ensure their financial security while maintaining eligibility for government benefits. In Illinois, several types of special needs trusts serve different purposes and cater to varying needs. Understanding these trusts is crucial for individuals and families navigating the complex landscape of disability planning. For legal assistance, contact a qualified attorney to ensure you can meet your legal goals.
Third-Party Special Needs Trust
A third-party special needs trust is commonly used by parents, grandparents, or other relatives to provide for a loved one with a disability without jeopardizing their eligibility
Continue Reading Four Different Types of Special Needs Trusts in Illinois

As parents, ensuring our young children’s well-being and financial security is a top priority. One effective tool for achieving this goal is a revocable trust. If you are a parent interested in learning more about estate planning and ways you can ensure your young children are protected financially, contact a lawyer in Illinois, as they will possess the legal knowledge to highlight how this estate planning tool can provide peace of mind and protect the interests of your children.
The Basics of Revocable Trusts
A revocable trust, also known as a living trust, is a legal arrangement that
Continue Reading Revocable Trusts for Parents with Young Children

Selling real estate is a significant financial transaction that requires careful attention to legal details. To ensure a successful closing, being well-prepared and knowledgeable about the process is crucial. Hiring a real estate lawyer is a critical step to ensure a successful closing. By hiring a qualified real estate attorney, you can take a lot of the unknown out of the process, as the legal professional you hire will be equipped with knowledge in Illinois real estate law to take the case head on and ensure the real estate closing process when you are the seller is as seamless as
Continue Reading Seller Real Estate Closing Tips 

Probate is a legal process that validates and administers a deceased person’s will. While it may seem like an added burden during an already difficult time, probate serves several crucial purposes. If you seek legal assistance related to wills and the probate process, experienced lawyers can take some of the pain out of the process. When you hire a legal professional, they will be able to adequately shed light on the importance of probate in ensuring that the assets in your loved ones will are appropriately distributed and that your deceased loved one’s wishes are respected. 
Probate Can Validate
Continue Reading Why Wills Must Go Through Probate 

Yorkville Real Estate Lawyer: Tips for Real Estate Sellers in Kendall County, Illinois
At Gateville Law Firm, we specialize in residential real estate transactions for sellers and buyers of property in Yorkville, Oswego, Plano, Newark, Leland, Somonauk, Sandwich, and nearby areas of Kendall County. Our law firm handles real estate transactions through the Chicagoland area & surrounding suburbs. If you are considering selling your home, there are three significant factors that impact the home sale process in Illinois.
A. Attorney Review and Home Inspection Periods
The first factor involves the attorney review and home inspection periods. The attorney review and
Continue Reading Yorkville Real Estate Attorney: Legal Tips for Selling Your House

Plainfield Residential Real Estate Lawyer
A residential real estate attorney assists sellers with the real estate closing process. A real estate attorney and their team help sellers with the following:

  • Review the Multi-Board Residential Real Estate Contract
  • Negotiate the Attorney Review & Home Inspection Periods
  • Order title to detect liens and judgments, which must be satisfied at or before closing.
  • Order a title survey to identify whether encumbrances affect the property interests
  • Find suitable strategies to resolve legal and title issues which could jeopardize the sale of real estate

The primary responsibility of the seller’s real estate attorney is to
Continue Reading Role of a Seller’s Residential Real Estate Attorney

Plano Il Real Estate Transfer Lawyer
After the owner’s death, the real estate transfer involves legal aspects, including estate planning and probate law. With the COVID-19 pandemic, there has been an increased awareness of estate planning and the importance of managing real estate. In addition, baby boomers, born after World War II, and their children prepare to pass their assets and wealth to the next generation. Therefore, wealth transfer from generation to generation is a significant legal issue.
However, many baby boomers and their families are unprepared to transfer their assets after death. Illinois has eight types of property ownership:
Continue Reading Plano Real Estate Attorney: Transferring Real Estate Upon Death Without Probate in Illinois

Buyer’s Attorney: Reviewing and Proposing Amendments to the Multi-Board Residential Purchase Agreement
Most of the real estate buyer’s attorney’s job is done before the closing. The Multi-Board Residential Purchase Agreement 7.0 (“the Purchase Agreement”) is a standard real estate purchase form used around Newark, Yorkville, Sandwich, Oswego, Plainfield, Joliet, and surrounding areas of Illinois. The Purchase Agreement summarizes the key terms and conditions of the purchase of a residential property and is a legally-binding real estate sales contract. The essential terms of the Purchase Agreement include the following:

  • The Parties. Paragraph 1 identifies the buyer and seller.
  • The Real Estate.


Continue Reading Newark, IL Buyer’s Real Estate Closing Attorney: Duties of Buyer’s Attorney

This article discusses the impact on spouses dying when real estate is their sole name. In Illinois, significant others and couples reside in real estate when one person’s name is on the legal title. Mortgages are often placed in one’s spouse’s name due to poor credit, or one spouse has a higher income and a credit score to meet the underwriting standards of mortgage providers
People obtain mortgages without a spouse or another person for multiple reasons. First, the person was qualifying for the mortgage primary by the leading financial contributor. Mothers often stay home and place their families above
Continue Reading What Happens if Your Spouse Dies and the Real Estate Was Only in Their Name?

Structuring one’s financial, retirement, and estate planning alternatives to efficiently and affordably leave one’s assets to one’s loved ones is known as estate planning. Individuals regularly worry about their investments and how the market may harm them.
Asset diversification and asset protection are two legal specializations that work together to optimize protection from events that deplete an individual’s assets. Asset management is proactive planning before legal disputes, taxes, and other life occurrences harm a person’s wealth and security. Asset protection and estate planning are two practical wealth management techniques that complement one another to provide monetary stability.
A solid legal
Continue Reading Yorkville Estate Planning Attorney 101: Frequently Asked Questions About Living Trusts

Structuring one’s financial, retirement, and estate planning alternatives to efficiently and affordably leave one’s assets to one’s loved ones is known as estate planning. Individuals regularly worry about their investments and how the market may harm them.
Asset diversification and asset protection are two legal specializations that work together to optimize protection from events that deplete an individual’s assets. Asset management is proactive planning before legal disputes, taxes, and other life occurrences harm a person’s wealth and security. Asset protection and estate planning are two practical wealth management techniques that complement one another to provide monetary stability.
A solid legal
Continue Reading Yorkville Estate Planning Attorney: Frequently Asked Questions About Living Trusts

Oswego Premarital Agreement Attorney
The term “late-life divorce” is used because a person was divorced over the age of fifty. In addition to the word “late-life divorce,” “Grey Divorce” and “Silver Divorce” are terms that describe a middle-aged person divorced beyond the age of 50. We have increasingly become familiar with the divorce rate of couples rising in population. As a result, divorces beyond 50 years of age have substantially increased in popularity, and a divorce significantly impacts one’s familial status. In addition, premarital and post-nuptial planning are increasingly popular because spouses have experienced the divorce process and desire to
Continue Reading Montgomery Premarital Agreement Lawyer: Protecting Your Assets & Securing Your Future