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Benefits of Short Sale over Foreclosure

During our lifetime, we face many financial difficulties. Under financial distress, many homeowners look to sell their assets to avert bankruptcy and defaults in order to pay off loans. The sale of a real estate asset, such as a house is one such option. However, in times of distress, many homeowners are required to sell their house for a lower amount than the actual price of the house or their mortgage. It is called short sale and comes with its very own advantages and disadvantages. Here are some common advantages of choosing a short sale ove... Read more

Parallel Parenting and Child Custody

Parents usually distribute child responsibilities after they get divorced, but recently, the concept of parallel parenting has seen a rise in importance from parents who look for the holistic development of their children. Parallel parenting involves having limited contact with ex-spouse but coming together to make the most crucial and important life decisions for your child. It helps reduce friction between parents and keep children away from any animosity and negative arguments that can hurt their well-being. Under the Illinois Uniform Child-... Read more

Seeking Modification to Spousal Maintenance

Spousal maintenance is different from child support. Spousal maintenance payments are usually made on a monthly basis by either spouse per their divorce agreement. It is difficult to seek modifications to both the divorce deed, and spousal maintenance unless there are substantial changes in circumstances. Spousal maintenance is granted dependent upon the needs of either party, their current and future income, the duration of marriage and status of homemaker, any tax consequences, arbitrary agreements, and future medical and standard of living n... Read more

Can You Complete an Estate Plan if Your Spouse Refuses to Participate?

Real estate planning for a married couple is important. The couple needs to create trusts, wills, and several other real estate planning tools. Estate planning instruments are particularly helpful for couples because they offer long-term security and peace of mind knowing your future is safe. However, on certain occasions, a partner or spouse might not agree to real estate planning and may refuse to participate. What do you do when a spouse is unwilling to participate in real estate planning? How to Get Started on Real Estate Planning if Your S... Read more

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