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When a loved one passes, managing the ownership of jointly held property can feel overwhelming. Jointly owned property often avoids probate, but the specific outcomes depend on the ownership structure and other legal factors. At Woods & Bates, P.C., we’re here to guide Illinois families through these challenges, ensuring clarity and peace of mind. Joint…

Losing a loved one is hard enough without the legal steps that follow. When someone passes without a will, their assets are handled by a court-appointed “administrator” following state intestacy laws. Though it’s a complex process, knowing the basics can help. At Woods & Bates, P.C., we’re here to provide Illinois residents with the support…

Your legacy is more than just a set of assets—it’s the values, security, and memories you leave behind for loved ones. Estate planning, especially with the right trust, is not just for the wealthy; it offers peace of mind and financial security for anyone looking to safeguard their assets. At Woods & Bates, P.C., we…

When protecting your assets while planning for future care needs, it’s easy to see why many people in Illinois turn to revocable trusts. At Woods & Bates, P.C., we’ve helped countless individuals understand and maneuver through the world of estate planning, ensuring everything is in order regarding Medicaid planning. One common misconception that comes up…

At Woods & Bates, P.C., we believe estate planning is for everyone—not just those with significant wealth. It’s about making sure your wishes are honored and your loved ones are taken care of. Whether you’re looking to protect your family or secure your assets, an estate plan is key to your peace of mind. Why…

Owning property with others can be a bit tricky. Whether you’re thinking of buying property with family, friends, or even business partners, it’s important to know how the law looks at shared ownership. In Illinois, one common type of co-ownership is called “Tenancy in Common.” This is actually the default way property is divided when…

A key question many seniors face when planning their estates is whether creditors can go after the assets placed in a trust. Understanding these nuances is crucial for seniors planning their estates, especially when considering the type of trust and specific circumstances. There are ways to protect your assets effectively. At Woods & Bates, P.C.,…

Estate planning is complex, and trusts are particularly difficult to comprehend. This subject can be confusing and overwhelming, but Woods & Bates has extensive training on interpreting trusts and assisting clients to administer trusts. Trusts are essential to estate planning and allow the creator of a trust to benefit in several different ways. Here is…

In real estate transactions, it’s not uncommon for one realtor to represent both the buyer and the seller. While this practice, known as dual agency, might seem convenient, it often results in neither party being represented adequately. At Woods & Bates, P.C., we understand the complexities and challenges this situation presents and are committed to…

Closing delays are a common challenge many face when facing the complexities of real estate transactions. At Woods & Bates, P.C., we understand how frustrating and costly these delays can be. Since 1972, our firm has provided quality legal services, ensuring that transactions proceed smoothly and efficiently. In this blog post, we’ll explore the various…