by Lauren Jackson | Sep 7, 2017 | buying a home, Real Estate, real estate closing, selling a home, Taxes
If you are buying or selling real estate in the state of Illinois, one of the biggest line item dollar amounts will be the real estate tax proration (credit) given by the seller of the property to the buyer. In Illinois, all real estate taxes are paid one year in...
by Lauren Jackson | Aug 8, 2017 | Attorney, buying a home, Lawyer, property disclosure, Real Estate, real estate closing, selling a home
When you are purchasing real estate, property disclosure statements are some of the most important documents that you will receive. Property disclosure statements outline any flaws that the current owners and their real estate agents are aware of that could negatively...
by Lauren Jackson | Jun 27, 2017 | Attorney, Lawyer, Lien Waiver, Mechanic Lien, Real Estate
A lien waiver is a real estate related legal document designed with the intention of rendering the claim of a mechanic lien claimant unenforceable. This is often done in order to allow the transfer of real estate, or as a means of proving a particular contractor or...
by Lauren Jackson | Jun 12, 2017 | Attorney, executor, Lawyer, Probate
Before hiring a probate attorney you should become familiar with the probate process. Below are five questions that I have been asked many times by past clients. As with any service, I do believe that an informed client is a happier client. How do you bill for your...
by Lauren Jackson | May 19, 2017 | buying a home, Kane County, Real Estate, real estate closing, selling a home, Taxes
When it comes to issues with local real estate, one of the hardest things for people to understand is the property tax billing process. In Illinois, our property tax bills are billed in arrears. For instance, if you owned property in the year 2016, you will be paying...
by Lauren Jackson | May 2, 2017 | buying a home, Real Estate, real estate appraisal, selling a home, Uncategorized
If you are in the process of buying a home, I am sure there are a lot of unanswered questions you have. One such question is: will the home appraise out? Everyone on both sides of the transaction wants the home to appraise out for what was offered on the contract, but...
by Lauren Jackson | Apr 26, 2017 | Limited Liability Company
A Limited Liability Company or LLC is a business structure that is both easy and affordable to form in Illinois. There are specific steps and details that you must know when starting one: Decide on a name There are some naming requirements when choosing a name but the...
by Lauren Jackson | Apr 14, 2017 | Attorney, Estate Planning, Life Insurnace
Recently, I watched a 60-minute news story about how some of the largest life insurance companies don’t pay benefits even when they know the policyholder has died. Insurance companies claim that it is up to policyholders’ beneficiaries to contact the insurance company...
by Lauren Jackson | Mar 23, 2017 | Estate Planning, intentionally defective grantor trust, Trusts
An intentionally defective grantor trust (IDGT) is a very interesting estate planning tool. It can be used to freeze certain assets for estate tax purposes, but not for income tax purposes. It is best used, for example, for a business that you own that is expected to...
by Lauren Jackson | Mar 16, 2017 | Divorce, Estate Planning, Trusts, Wills
In the aftermath of a divorce, updating your estate plan may not be at the forefront of your mind. You may still be distraught and emotionally and/or physically exhausted. However, many clients don’t realize what could result if they don’t update their...
