A very common estate planning practice is to draft a trust and title your real estate in the name of the trust. This practice lets the trust “own” your real estate holdings. There are many positive reasons why one would
Lauren Jackson Law Blog
The Lauren Jackson Law Blog, published by The Law Offices of Lauren E. Jackson, focuses on legal issues related to real estate and estate planning. It covers topics such as residential and commercial real estate transactions, estate planning strategies including wills and trusts, probate processes, and business succession planning. The blog also addresses practical concerns like digital estate planning, asset protection through LLCs, and contract review in real estate deals. It aims to provide clear guidance on managing property-related legal matters, estate administration, and protecting assets for individuals and families in Illinois.
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Title Insurance: What’s the difference between an owner’s title insurance policy and a lender’s title insurance policy?
When reviewing documents with real estate clients, title insurance is one of the most asked-about costs on the settlement statement. During the process, you will learn two types of title insurance policies: an owner’s title insurance and a lender’s title…
Are you mortgage shopping? Annual Percentage Yield (APR) versus Interest Rate… How to compare one mortgage to another?
When searching for a home loan (mortgage) or refinancing an existing mortgage, it is confusing to compare one loan to another. We all want to get the best deal. One might think the loan with the lowest advertised interest rate…
In real estate, what is a contract for deed?
A contract for deed, also known as a land contract, installment contract, or a bond for deed is a legal agreement between two parties, a buyer and a seller. Unlike most traditional real estate transaction that involves a mortgage from…
Is there a minimum net worth you should have before making a will?
As an estate-planning law firm, we are asked by clients, how much money do I need to create a will? In simple terms, there is no minimum net worth requirement for creating a will. Frankly, net worth is far down…
Podcast Episode – Estate Planning Essentials with Attorney Lauren Jackson
Recently I recorded an episode on the Your Life, Your Money Podcast with financial advisor Scott Sierens. During this episode we went through the fundamental aspects of estate planning, addressing common misconceptions and highlighting why having a solid estate plan…
Whose debt is it anyway? Can you be held responsible for your parents’ debt?
During the probate process, a question revolves around what happens to debt after your parents die. Are the children responsible for their parents’ debt? In most cases, you are not personally responsible for your parents’ debt when they die. However,…
How to answer the number 1 question for parents: Who should I choose to be the guardian of my child?
Choosing a guardian for your children might be the hardest question to answer when completing your estate plan. Determining who the guardian of your child is is a significant life decision but also a deeply personal one. There are many…
There is a problem with your new home – what can you do?
Your dreams have come true and you just purchased a home. Everything was great until you moved in. After the first rainfall, your basement floods, or your roof leaks and your home has sustained water damage. You suspect that this…
Is an executor of an estate entitled to compensation?
If you are involved in a probate process and serve as the executor or administrator of an estate you know how time-consuming, difficult, and stressful a task it can be for you. Acting as executor/administrator is often a thankless job…