Real Estate and Estate Planning Attorney in Chicago

Residential real estate is defined as a property that is a residence or home. Commercial real estate is defined as property intended not for residence but rather for business purposes. There are different laws and regulations related to each type of property, but an experienced real estate lawyer will be able to handle all types of real estate transactions. From paperwork and forms to legal options when a buyer backs out of a sale at the last minute, a lawyer will be able to help you navigate all areas of buying and selling both residential and commercial properties.

When buying or selling a business, there are a lot of legal considerations to keep in mind. For example, if you are attempting to buy or sell a business, you will need certain documents in order prior to the transaction. With the help of an experienced lawyer, you can navigate this complex legal process from start to finish. While you are not required to work with a lawyer, it is a good idea for peace of mind to make sure your legal interests are protected. Working with a real estate agent and an experienced lawyer during the transaction is a smart business move.

Estate planning is a process where you create legal documents to outline what will happen to property and assets once you pass away. Estate planning may also include working with a lawyer to determine personal matters such as naming legal guardians for minor children in the event of your death, what to do with pets, and even burial wishes. Without proper planning on your part, property and assets may be handled by the courts and then potentially distributed in a way that goes against your wishes. A lawyer helps create wills, trusts, and other estate planning documents related to estate planning law to ensure the full legality of the documents while helping you understand your estate planning needs.

Yes, you should still have an estate plan in place. As previously noted, without estate planning, your property and assets may end up being held up in probate court, or they may be distributed against your wishes. Estate planning is not only for people with children—everyone needs to plan for their eventual death. From matters like medical directives to burial wishes, a will acts as your legal word once you are gone. An experienced Chicago estate planning lawyer will ensure your will has the full legality required for the document to be held up in court, ensuring your last wishes are honored.

Probate is the legal process where the property and other relevant assets (their estate) of a recently deceased person are distributed by the courts. During this process, a judge will consider the legal validity of the will, appoint an executor of the estate (if one is named in a legally valid will), and oversee the matters of liquidation and distribution. The probate process of estate planning law can be stressful and drawn out, which is why creating a valid will is crucial in estate planning. Probate litigation may also be used with power of attorney and other guardianship types for what is called living probate when someone is unable to make decisions for themselves.

It is important to note that having a will in place does not help you avoid probate. A valid and legal will helps speed up the process of probate and ensures your final wishes are honored by the courts. In order to avoid probate, you may be able to set up a fully funded revocable living trust, which would allow your beneficiaries access to the estate without dealing with the probate process. It is best to speak with Chicago estate planning attorneys on this matter since a revocable living trust may not be the best legal choice for everyone.

A lawyer may be able to help your business or corporation in a variety of ways, such as representing your business when faced with litigation, ensuring that all necessary legal documentation is in place, and offering counseling on matters of legal importance pertaining to the overall operations and success of your business. Whether you are just starting your small business or you are in charge of a well-established corporation, a lawyer will be able to assist you in legal matters of both minor and monumental importance while protecting the best interest of the business.

There are four main types of documents involved in estate planning. Most people will need a will, a HIPPA authorization, power of attorney for medical decisions, and power of attorney for property-related matters. Some people may also require a trust as part of estate planning. In some cases, the same person may be named as power of attorney for both medical and property decisions. By working with an experienced estate planning lawyer, you can navigate these various (and often complex) documents to ensure everything is in order prior to your death.