Oak Park Real Estate & Estate Planning Blog

Whether you have been with your partner for a relatively short amount of time or you have been with your partner for decades and have many shared assets, it is important to learn more about estate planning specifically for unmarried couples and how you should be thinking about estate planning given your marital status. In short, many couples who are not legally married have strong relationships that might seem akin to the relationship of a married couple, but they do not have the same legal rights and responsibilities with regard to one another under the law. Accordingly, it is essential to work with an estate planning lawyer to ensure that you can make clear what rights and responsibilities your partner has, even if you are not married. Our Oak Park estate planning lawyers can tell you more. Leaving Assets to Your Partner in a Will If you were to die unexpectedly or did not have a will for any other reason, you would die “intestate.” What this means is that your assets would be distr...

Are you considering buying or selling real estate, or are you currently in the process of doing so? You might be wondering if you can simply act as your own attorney when it comes to drafting, reviewing, and signing a real estate contract, especially if you have been involved in the purchase or sale of real estate in the past. While you may have some familiarity with real estate guidelines, it is critical to keep in mind that contracts can be extremely complex, and a minor error can result in major issues later on. As such, you should always plan to have a real estate lawyer in Oak Park review your real estate contract before you sign. What are some of the key reasons to work with a real estate attorney on your contract? Consider the following information. Real Estate Agents Do Not Have the Legal Experience of an Attorney Whether you are a real estate agent yourself or your agent has offered to look at a real estate contract with you, it is critical to remember that real estate agents...

Are you currently in the process of buying residential or commercial real estate in Illinois? Or are you considering a real estate purchase? Whether you have bought homes and businesses in the past or you are a first-time buyer who is new to the process, it is important to have an experienced Oak Park real estate attorney on your side to ensure that the purchase process goes smoothly — from identifying a home or business you want to buy and making an offer to the closing. While any checklist for a real estate closing is something that you should discuss with your real estate attorney, it is also important to have a good idea of the steps that you will need to take just before or at your closing. While Illinois real estate law does not require you to have an attorney at your closing in order for the sale to go through and to be finalized, you should keep in mind that closings can be complex, and an attorney can help to ensure that everything goes according to plan. When you sit down t...

Having an attorney when you are buying or selling a house is extremely important in Illinois, particularly for the real estate closing . While your real estate attorney will assist you throughout the process of purchasing or selling residential or commercial property in the Oak Park area, the closing is especially complex. Whether you are considering buying or selling property, or you are already making a purchase or selling, you might be wondering: what happens at a real estate closing? Most laws concerning residential and commercial property are governed by Chapter 765 of the Illinois Code , but there are also other important laws that may be applicable to your circumstances. Our Oak Park real estate attorneys can discuss the process with you, and we can talk with you today about your needs for your real estate sale or purchase. Steps in Anticipation of Closing Before a buyer closes on a piece of domestic or commercial property and the transaction is officially closed, certain steps ...

When you are thinking about buying or selling a home in Oak Park or elsewhere in Illinois, it is important to work with a real estate attorney. While you might think it is possible to learn about Illinois real property laws on your own and handle any aspects of your real estate closing while avoiding legal fees, you should remember that real estate law is complex, and having an attorney on your side is always a good idea. If you are considering hiring a real estate attorney, you are probably wondering what they do and how they will help you with your sale or purchase. The following are some of the key ways in which real estate lawyers in Illinois assist buyers and sellers. Preparing and Reviewing Documents The purchasing or selling of real estate involves drafting and reviewing a substantial number of documents, for which a real estate attorney is essential. Important documents to be prepared and reviewed include the deed, the mortgage, any disclosures, and the contract. Handling Cont...