When homeowners default on their mortgage payments, sometimes the only option for lenders is to initiate foreclosure proceedings. However, this can lead to conflict between lenders and borrowers that may result in property damage, increased expenses, and challenges related to finding a new buyer. Sometimes, it is in the best interest of both lenders and borrowers to consider other options that may prevent the need for foreclosure.

Understanding Illinois Foreclosure Alternatives

When possible, lenders may consider working with homeowners to explore options that can prevent defaulting on payments or otherwise make a foreclosure unnecessary. These options include:

The time after a loved one’s passing is hard for all grieving family members, and it can be even more difficult when disputes arise over the decedent’s wishes or the validity of the will. As you prepare your estate plan, you should consider what you can do to prevent these disputes from happening after your death so that your family remains intact and well-provided for. The following tips will help prevent a contested estate.

Creating an Illinois Estate Plan to Minimize Disputes

Many contested estate disputes happen because family members are dissatisfied with how the terms of the will affect them, while others may be based more firmly on legal grounds. You should, of course, make sure that the terms of your estate plan reflect what you truly want, but there are also steps that you can take to help your family and beneficiaries understand your reasoning and show that you were of sound mind when making your decisions. These include:

When you decide to start a business, you will experience many challenges and important decisions early on, from securing funding, to attracting clients, to determining the type of business entity you should establish. As you go through the process, you should be sure not to overlook the importance of obtaining the permits and licenses your business will need to operate in compliance with the laws and regulations for your area. A business law attorney can help you identify the permits and licenses you will need and guide you through the process of getting them.

Common Business Permits and Licenses

Different permits and licenses are necessary depending on your business’s location, industry, and the products or services you provide. There are likely others that your business will need to pursue, but some of the most common examples include:

It may be awkward to bring up the possibility of a prenuptial agreement with your partner, as it can be uncomfortable to think about divorce before the marriage even begins. However, a prenuptial agreement can be more than just a safeguard for your assets in the event of a divorce. It can also be an opportunity for you and your spouse to have an open discussion about your finances and help you remain aware of each other’s needs and priorities throughout your marriage.

Items to Address in a Prenuptial Agreement

Couples can choose to address a variety of issues in their discussions and prenuptial agreements, primarily related to their financial and property interests. Some important topics include:

The COVID-19 outbreak across the U.S. has left many Americans wondering how they will make rent payments and what will happen if they are unable to do so. For the past few months, a residential eviction moratorium has been in place, restricting residential tenants from being evicted due to late rent payments. This moratorium has been extended on multiple occasions, but is intended to conclude at the end of July. A new state grant program is beginning in August to provide financial assistance to those who are struggling to make rent payments, yet this may not be enough for many Illinois residents to stay afloat for long.

In mid-July, the Illinois Supreme Court adopted a new rule for eviction proceedings that will go into effect immediately. Whether it is in response to COVID-19’s effect on renters or was a longtime coming, new Rule 139 requires aims to better inform all parties involved in eviction cases.