Updates, News and Reminders
The recently passed new Illinois Trust Code. covers ownership transfers of guns upon disability or death. Gun Ownership upon Disability With the new statute, gun ownership upon disability is fraught with potential issues. Even if you currently possess a FOID card, you may become ineligible to possess your guns if you are: Prohibited from possessing … Continue reading Gun Transfers Following Death or Disability
Joint Tenancy – it is quick, convenient and tempting. It used to be called, “The Poor Mans Will.” And it is fraught with potential disaster. Consequently, aside from marital funds, you should be very cautious of ever using it to title assets. It is effortless to add someone’s name to a title. This is done … Continue reading Joint Tenancy and its Perils
Simply put, you can be declared legally disabled if someone petitions the court with the allegation that you are not fully able to manage your person or estate.
Probate: What it is. Why you should avoid it. Probate is the process of administering the estate of someone who has died or becomes incapacitated. It exists because no one can legally sign your name, even your spouse. According to the AARP, over $2 billion dollars is spent in Probate-related expenses, an average of 2-7% … Continue reading The Truth About Probate and Why You Should Avoid It.
Mr. Tuohy has been selected by the National Association of Distinguished Counsel as a Member of the “Nation’s Top One Percent” Chicago Injury Law Firm and Personal Injury Lawyer Chicago Il personal injury lawyer chicago Il Tuohy Law Offices is pleased to announce that founder Tom Tuohy has been recognized as a 2015 member of … Continue reading Tom Tuohy Personal Injury Lawyer Chicago Il