Law Offices of Tedone and Morton, P.C.

Joliet Office

815-666-1285

Plainfield Office

815-733-5350

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Plainfield estate planning attorney wills and trusts

Planning what should happen with your estate after your death can be a difficult decision. This is not just because of the nature of the task, but because there can be a lot of different choices to be made. A key factor when making any decisions should be the Illinois estate tax. We will explain this below and discuss why it is important to take it into consideration when planning your estate. An experienced estate planning attorney can assist you through the process and ensure that your loved ones are properly cared for in the future.

Illinois Estate Tax Law

The Illinois estate tax is a graduated tax rate that goes up to 16 percent and is only applied on estates that are worth more than $4 million. If your estate is worth less than $4 million, the tax rate will not be applied and you do not need to consider it. 

In some states, estate tax exemptions are portable, but not Illinois. Portability means that if one spouse dies but does not use any of his or her allotted estate tax exemption, that value can later be used by the other spouse. However, Illinois law is a bit simpler and only provides a $4 million exemption cap for each individual. 

Other states only tax a certain portion of an estate, but in Illinois, if your estate exceeds a value of $4 million, all of it is taxed. To get an idea of the amount you could be taxed, look at a chart of the tax rates. Each bracket will have a base amount that must be paid, and then there is a marginal rate that is applied to any money above the bottom limit of that bracket. 

If you have ever heard of inheritance and gift taxes, do not worry -- those will not play a role in your estate planning in Illinois, because Illinois does not have those taxes, only the estate tax. 

One last detail to consider is that if your estate’s value is very high, you could also be subject to a federal estate tax. As of 2018, the federal estate tax exemption was $11.18 million. 

Using Trusts to Lower Estate Tax

A common strategy that can help reduce estate taxes is to create legal trusts. There are a variety of trusts that you and your estate planning attorney can create, so that is why it is best to seek the advice of professional legal counsel since the types of trusts that could be applicable vary on a case-by-case basis. An example is an Irrevocable Life Insurance Trust, which is a designation for your life insurance benefits. If you have life insurance and you pass away, but you do not have this type of trust, the value of your life insurance benefits will be added to your estate and your beneficiaries could lose some of the money.

Contact a Will County Estate Planning Lawyer

Estate planning may seem daunting, but it does not have to be difficult. Prepare for the ongoing care of your loved ones by working with a respected Plainfield, IL estate planning attorney. At The Law Offices of Tedone & Morton, P.C., we have extensive legal experience and a history of caring for the best interests of our clients. Begin planning for the future of your estate by calling us today at 815-666-1285 to schedule your free consultation. 

 

Source:

http://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=075500050HArt.+IV&ActID=2104&ChapterID=60&SeqStart=5300000&SeqEnd=6800000

 

Plainfield, IL white-collar crime attorney embezzlement

In Illinois, white-collar crimes can be accompanied by strong punishment. As such, it is important to understand what constitutes embezzlement and what kinds of charges such an act can result in. There are many different levels of embezzlement as defined by Illinois law, and there are different charges for each. Regardless of the circumstances of any criminal charge you may face, defend your rights to the fullest extent with the help of a trusted white-collar crime attorney. 

Illinois Embezzlement Laws

Embezzlement is defined as theft when there is a fiduciary relationship between the involved parties when the embezzler acquires property as a result of his or her relationship and transfers that property to another party for his or her own gain, and when these actions are intentional and not due to a misunderstanding. Someone can be charged with embezzlement for the theft of tangible or intangible property. Tangible property can be anything from jewelry to cars, and intangible property can be money, stocks, billing schemes, and other financial assets.

There are many different tiers of embezzlement since the same crime encompasses a range of theft from an employee stealing from a cash register to a stockbroker stealing millions. The different categories of embezzlement are defined and punished as such:

  • Under $500 not from a person: Class A misdemeanor and is punishable by less than one year in prison and fines up to $2,500

  • Under $500 from a person or between $500-$1,000: Class 3 Felony that could lead to 2-5 years in prison and fines up to $25,000

  • Between $10,000-$100,000: Class 2 Felony punished similarly to the previous Class 3 Felony

  • Between $500,000 - $1,000,000: Class 1 Non-Probation Felony

  • Over $1,000,000: Class X Felony

  • Theft by Deception of at least $5,000 from a victim age 60 or older: Class 2 Felony

It is important to note that any of these crimes, when committed in a school or religious institution or involving government property, will result in at least a Class 2 Felony with 3-7 years in prison and fines up to $25,000.

Contact a Will County White-Collar Crime Attorney

Embezzlement is a serious charge, and it demands a strong and highly capable defense. If you or someone you know is accused of any criminal activity, it is imperative that you seek professional legal counsel. At the accomplished Law Offices of Tedone & Morton, you will find a trustworthy team with years of experience defending clients in white-collar cases. To schedule a free consultation with our Plainfield, IL criminal defense lawyers, call us today at 815-666-1285.

 

Source: 

http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=072000050K16-1

 

Plainfield, IL family law attorney order modification

The initial process of filing for a divorce and negotiating or litigating the corresponding terms is typically just the first stage of separation. Over time, both individuals’ and their children’s circumstances may change, which could justify a change in the agreement in order to be fair to both parties. There are many reasons why you or your ex-spouse might want to pursue a post-divorce modification. Regardless of the changes in mind, you should seek the assistance of a highly qualified divorce attorney. With his or her legal guidance, you will be able to better negotiate with your ex-spouse to achieve a favorable outcome.

Post-Divorce Modifications

Many circumstances can lead people to seek post-divorce modifications, but the following are a few of the most common. If the party who is paying spousal support loses his or her job, a modification may be necessary to reflect this change in income. Similarly, if a person is receiving rehabilitative spousal maintenance, a modification may be necessary to reflect the change in income once he or she finds a job and is able to properly support himself or herself. 

In many cases, the decisions a couple makes regarding parenting time might have problems from the start. A couple should refine their parenting time allocation to reflect the needs and desires of their children, and one party may seek a modification if he or she feels his or her amount of parenting time is unfair. Much of the decisions made about parenting time have to do with both spouses’ work schedules and lifestyles, so if there is a significant change on that front, an amendment to the agreement may be necessary. 

Child support terms are often altered through post-divorce modifications. If either spouse has a change in income, that can be reflected in a new agreement. It is unusual for a divorced couple to immediately agree on an adjustment to their child support agreement, and the modification can be made through mediation or in court. 

Contact a Will County Divorce Attorney

Divorce and the subsequent negotiations or legal battles can be costly and emotionally challenging, but a skilled Joliet, IL divorce lawyer can help ease the burden and make sure that your needs and rights are being protected to the fullest extent. At the Law Offices of Tedone & Morton, P.C., our accomplished divorce attorneys have years of experience protecting our clients’ best interests in their divorces. To learn how we can help you modify your court orders to reflect the changes in your or your ex-spouse’s circumstances, call our office today at 815-666-1285 to schedule your free consultation. 

 

Source:

http://www.ilga.gov/legislation/ilcs/documents/075000050k510.htm

 

Plainfield parentage attorney VAP

In Illinois, when a child is born to a married couple, the husband is presumed to be the father of the child by law. However, paternity can and should be established even if a couple is unwed. The father’s name cannot be added to the child's birth certificate until paternity is confirmed. If the identity of the biological father is not in question, both parents can sign a Voluntary Acknowledgement of Paternity (VAP). This will ensure that both parents can share in child custody and parenting time. It can also ensure that a child will receive financial support from both parents. Whether you need to establish paternity through a VAP or other methods, or if you have other concerns regarding child custody or child support, you should work with a skilled family law attorney to protect your parental rights and ensure that your child can maintain a relationship with both parents.

What Is a VAP?

If a couple is unwed, or if a person other than the mother's husband is the child's biological father, a VAP legally establishes paternity. In addition to protecting parents' rights to share in responsibility for raising the child and ensuring that the child can receive child support, establishing paternity can also provide a child with financial security in the form of Social Security benefits if a parent is deceased or disabled, inheritance rights, health insurance benefits, and more. A child will also be able to access his or her family’s medical history at some point later in life if any health issues come up. 

A VAP can be signed by both parents and submitted to the Illinois Department of Healthcare and Family Services (HFS). VAP forms can be obtained at: 

  • Hospitals

  • Local child support offices

  • The HFS or Division of Child Support Services (DCSS) website

  • Any Department of Human Services office

  • Any county clerk’s office

  • Any state or local registrar’s office

Before signing a VAP, it is important for parents to understand their rights and responsibilities with the help of an experienced family law attorney. There is no time limit for completing a VAP, and it can be filed at any time following the child's birth. Any parents who are not legally married can submit a VAP, including minors (who do not need the consent of their parents or guardians) and non-US citizens as long as their child was born in the United States.

Contact a Joliet, IL Family Law Attorney

Studies show that a child benefits from having a relationship with both parents, regardless of whether they are married. The circumstances of your relationship aside, seeking the assistance of a Will County paternity lawyer will ensure that all of the legal aspects of parentage are handled properly. At the Law Offices of Tedone & Morton, P.C., we have years of experience advocating for our clients in all matters of family law. To learn how we can help you, call us today at 815-666-1285 to schedule a free consultation.

 

Source:

https://www.illinois.gov/hfs/ChildSupport/FormsBrochures/Pages/hfs3282.aspx

 

Plainfield, IL parenting time attorney

Any aspect of divorce -- especially determining child custody and parenting time -- can be difficult to discuss and navigate. If you are trying to move out of Illinois with your child after a divorce, you might have difficulty justifying the move, but with skilled legal support, it is possible. Below is a guide for obtaining permission to move with your child, but it is also important to work with professional legal counsel. An experienced divorce attorney can help you convey the best argument to a judge if your ex-spouse contests your request to move.

Seeking Permission to Move

In Illinois, a parent who has the majority of the parenting time with their child or who shares equal parenting time cannot proceed with a move that would be considered parental relocation without receiving permission from the applicable family court. It is important to note that a move out of Illinois in which the new address is 25 miles or less from the child's current address is not considered parental relocation. Any out-of-state moves that exceed 25 miles from the original address will be subject to Illinois' parental relocation laws.

If you are planning a move that would be considered parental relocation, you must first provide written notice to your ex-spouse. A copy of this request must be filed with the clerk of the circuit court. Unless impractical, you must provide this written notice 60 days before your intended move. If you cannot give notice this early, you must provide the notice at the earliest possible date and have a valid reason for why this was necessary. Any notice must include the following:

  • The intended date of the relocation

  • The new address (if available)

  • The duration of the stay, if the relocation will be temporary 

If your ex-spouse approves of the relocation request, you may file a revised parenting plan with the court that contains any necessary changes to parental responsibilities or parenting time. If the judge agrees that these changes are in the child's best interests, the relocation request and modified parenting plan will be approved.

If your ex-spouse contests your relocation request, the court must then make a decision about how to protect the child’s best interests. This is where relocation requests can get particularly difficult, since parents may have different opinions on what they think is best for the child’s well-being. The judge will consider a number of factors in these cases, including your reasons for moving, the other parent's reasons for objecting to the move, your child's wishes, the educational opportunities available to our child at the proposed new location, the effect of the move on the child's proximity to extended family members, and how to reach a solution that will allow the child to maintain a positive relationship with both parents.

Contact a Plainfield, IL Parental Relocation Attorney 

After a divorce, a change of scenery may be beneficial. You may wish to move out of state with your child for a fresh start, to be closer to your family members, or to pursue a job. To ensure that you are making a persuasive argument for why your request to relocate should be granted, it is critical that you seek legal counsel. Meet with one of our experienced Will County divorce lawyers at the law firm of Tedone & Morton. Schedule your free consultation by calling us today at 815-666-1285.

 

Source:

http://www.ilga.gov/legislation/ilcs/documents/075000050K609.2.htm

 

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