Posted on October 14,2024 in Estate Planning

While more than half of all adults in the United States believe that estate planning is important, only 33 percent of adults have an estate plan in place. In 2021, about 75 percent of those with an estate plan used a will, while almost 19 percent included a trust. As more and more people learn about trusts and understand the many benefits of a trust, that number is likely to increase.

 Most people have at least heard of using a trust as a part of a comprehensive estate plan, and many have taken advantage of its benefits. The most common type of trust is a revocable living trust, which can be changed as needed or even dissolved entirely. 

On the other hand, an irrevocable trust does not allow for changes and cannot be dissolved. An irrevocable trust's benefits and potential disadvantages are discussed in more detail below. If you have questions regarding whether an irrevocable trust is right for you and your situation, it is beneficial to speak to a knowledgeable Oakbrook Terrace, IL trust lawyer from Farooqi & Husain Law Office.   

Continue Reading ››

 Posted on September 20,2024 in Islamic Divorce

Today divorce is a reality for many American Muslim families, yet despite impacting many  families, there is very little data available. A 2020 survey from the Institute for Social Policy and Understanding looked at many issues that affect American Muslims, including divorce. The survey found that compared to others in the U.S., Muslims are as likely to be married but less likely to be divorced. Yet the legal process of divorce occurs among every demographic and is often complex and emotional for all those involved.

This may be particularly true for those navigating the unique laws and customs of the Muslim faith in the United States. If you are an American Muslim facing divorce and all the issues that go with it, it can be extremely beneficial to speak to an Oakbrook Terrace divorce lawyer from Farooqi & Husain Law Office. Our experienced attorneys have a unique perspective when assisting the Chicago Muslim community in understanding Sharia law and how the law intersects with their religious practices during divorce.    

Continue Reading ››

 Posted on September 11,2024 in Estate Planning

For Muslims living in DuPage County, creating an estate plan that follows Islamic inheritance laws while complying with Illinois state law can feel like a challenge. Sharia law outlines specific rules for distributing wealth after death, including how much certain family members are entitled to receive, and without estate planning instruments, Illinois probate law does not comply with Islamic standards. 

However, with careful planning, it is possible to structure an estate plan that honors your faith while still meeting Illinois legal requirements, such as the state's tax laws and probate process. An experienced Illinois estate planning attorney can guide you through balancing both legal systems.

Continue Reading ››

 Posted on August 28,2024 in Child Custody

You cannot expect a specific reaction from a child when his or her parents are going through a divorce and child custody is being determined. Every child is unique, and the family dynamics of every divorce are just as unique. The prevailing belief is that school-age to pre-teen children may need the greatest amount of support during a divorce. While this may be true, teens often receive the short end of the attention and support stick during divorce and may be feeling more deeply about the divorce than they realize.

Some teens also assume the role of the absent parent, which is rarely good for them (i.e., a sixteen-year-old boy becomes the "man of the house"). There are special considerations for teenagers whose parents are divorcing that may be overlooked. Choosing a strong legal advocate who has extensive experience in Illinois divorce laws and how divorce affects children can be one of the best steps you can take. An Oakbrook Terrace, IL child custody attorney from Farooqi & Husain Law Office can help ensure you and your child will get through the divorce in the best way possible.  

Continue Reading ››

 Posted on August 15,2024 in Spousal Support

A common concern among those just beginning a divorce or coming out of a divorce is whether their spouse could quit a job to avoid spousal support. Of course, this question has many facets, and the answer depends on the specific circumstances, but judges generally do not look kindly upon a person who attempts to deceive the court.

If your spouse quit his job solely as a means of avoiding spousal support and perhaps obtaining a bigger share of the marital assets, it is important that you speak to an Oakbrook Terrace spousal support attorney. When you choose an experienced family law attorney from Farooqi & Husain Law Office you can rest easy knowing you have a strong advocate who will protect your rights during the divorce and after the decree is complete. Our firm has an excellent record of positive outcomes in our family law cases, which includes spousal support.  

Continue Reading ››

 Posted on July 31,2024 in Divorce

Getting a divorce involves many emotional and financial challenges, one of which is the question of what will happen to the family home. For many people, their home is not only a significant financial asset, but it is also a place filled with memories, and it is likely to have significant sentimental value. Understanding how home ownership may be addressed during the property division process can ensure that a person will be able to protect their financial interests and achieve their goals in a divorce. An experienced attorney can help divorcing spouses navigate this complex process and take steps to address and resolve concerns related to home ownership.

Addressing the Family Home When Dividing Marital Property

Illinois law requires marital property to be distributed fairly and equitably between divorcing spouses. In most cases, a couple’s family home will be a marital asset, and a couple will need to determine how it will be handled as they separate their lives and finances. If one spouse owned the home prior to the couple’s marriage, it might be considered separate property; sometimes, however, the home may have been commingled with marital assets, which can complicate the property division process. A lawyer can provide guidance on how to determine whether a home is marital or separate property and can ensure that home ownership will be addressed correctly when dividing marital assets.

Continue Reading ››

 Posted on July 14,2024 in Illinois Family Law

After a divorce or separation, parents need to be sure their children’s needs are provided for. Child support will typically be ordered, and one parent will be required to make ongoing payments to the other. Even when parents are unemployed, they may still have an obligation to provide financial support for their children. When addressing issues related to child support, an experienced attorney can ensure that the laws are applied correctly and advocate for solutions that provide for children’s needs while helping parents maintain financial stability.

Parental Obligations to Provide Financial Support

Parents have a legal responsibility to support their children financially, regardless of employment status. Courts in DuPage County and throughout Illinois prioritize the best interests of the child, ensuring that they have the necessary resources for a healthy and stable upbringing.

Continue Reading ››

 Posted on June 30,2024 in Child Custody

While nearly every divorce will involve challenging issues, parents who split up often struggle to redefine their relationship and ensure that they can continue to provide for their children’s needs. Establishing a healthy co-parenting relationship is crucial for the well-being of children. 

By cooperating to address ongoing concerns related to children while focusing on their best interests, divorced parents can establish a supportive environment where their children can thrive. An experienced attorney can help navigate the legal aspects of co-parenting and ensure that parental rights and responsibilities are clearly defined. To create an ongoing relationship where parents can work together successfully, here are some essential tips:

Communication Is Key

Open and honest communication is the foundation of a successful co-parenting relationship. Parents can work to maintain effective communication by:

Continue Reading ››

 Posted on June 11,2024 in Business Law

As a business owner, choosing the right business structure is a critical decision that can have long-term implications for your company's success and your personal financial health. Whether you are starting a new business or thinking about a new structure that will allow for better operation and growth, it is important to understand your options. 

Structuring your business as a Limited Liability Company (LLC) can offer significant benefits. An attorney with experience in business law can help you determine if an LLC is the best choice for your situation.

Benefits of Structuring Your Business as an LLC

An LLC combines the advantages of a corporation with those of a partnership or sole proprietorship, providing flexibility and protection. Here are some key benefits of forming an LLC:

Continue Reading ››

 Posted on May 30,2024 in Bankruptcy

During the divorce process, a couple will need to divide many different types of assets. Matters related to property division can become complicated, and while assets will not need to be split in half exactly, the division should be fair, with each spouse receiving sufficient financial resources to address their ongoing needs while reflecting their contributions to the marriage. 

In addition to the physical property and financial assets owned by a couple, retirement assets will also be an important factor to consider, especially if either spouse will be eligible to receive pension benefits in the future. Understanding how pensions are addressed and divided during a divorce is crucial, since decisions about pensions can affect the financial future of both parties. An experienced attorney with Farooqi & Husain Law Office can help navigate these intricate issues and ensure that retirement assets and other types of property will be divided fairly.

Continue Reading ››