DGAA bLAWg

Homestead Rights in Illinois

Web Admin - Thursday, October 23, 2014

homestead rights in Illinois, Palatine estate planning lawyerWhile there are many well known government programs and policies designed to provide relief during difficult economic times, there are other laws people can take advantage of that are less commonly talked about. One of these laws is known as “homestead rights.” Homestead rights are a protection provided by Illinois law that provide certain immunities from debt collection efforts by creditors. However, these immunities are not absolute, so it is important for people exercising their homestead rights to understand the exact limitations of those rights.

What Homestead Rights Are

Homestead rights are a statutory protection against creditors designed to help people avoid becoming homeless because of changing economic circumstances. The rights allow the debtor to exempt $15,000 worth of real estate from the collection efforts of creditors or their agents. Additionally, if a married couple owns the home, then they can pool their homestead rights together to protect the same house. This gives them an exemption of $30,000. This exemption also survives the death or desertion of a spouse. The exemption can also be passed down to the children of the married couple, at least until the youngest child turns 18.

Illinois' homestead laws are also slightly different than the laws in some other states. Many states choose to restrict the amount of acreage that a person can use the homestead exemption on in addition to capping the total value of the property. Illinois has no such acreage cap. This means that the size of the property is irrelevant to the homestead rights, and that it is purely an issue of how much the land is worth.

What Homestead Rights Do Not Protect

Notably, homestead rights do not provide absolute protection against every type of creditor. For instance, the state legislature wrote an exception into the protection for the purposes of state taxes, so if the creditor is the state of Illinois then the exemption does not apply. Similarly, homestead rights are created by state law, which federal law can supersede, so they provide no protection against the federal government's collecting taxes either. The rights also do not function in many circumstances where the money owed is related to the property itself. A person who uses the house as collateral for a mortgage does not get protection if their home is being foreclosed. Additionally, if the person owes money to contractors for doing work on the home, then the homestead rights do not apply to those debts. Further, the homestead rights can be signed away in writing, which would also remove their protection.

If you have questions about your homestead rights or some other property interest, talk to an experienced Palatine, Illinois estate planning attorney today. Our firm helps clients in many northwest suburban towns including Barrington, Long Grove, and Arlington Heights.

About the Author: Attorney Jay Andrew is a founding partner of Drost, Gilbert, Andrew & Apicella, LLC. He is a graduate of the University of Dayton School of Law and has been practicing in estate planning, probate, trust administration, real estate law, residential/ commercial leasing, contracts, and civil litigation. Since 2005, Jay has been a Chair of the Mock Trial Committee for the Annual Northwest Suburban Bar Association High School Mock Trial Invitation which serves over 240 local Illinois students each year.


Recent Posts


Tags

Deer Park employment law attorney coronavirus boating under the influence Des Plaines criminal attorney Inverness DUI lawyer work unions Arlington Heights employment law attorneys Deer Park real estate law firm mortgage unpaid overtime irrevocable trust car accident Rolling Meadows criminal lawyer Chicago biking tips medical malpractice compensation probate process Crystal Lake traffic attorney digital information Chicago attorney jet ski accidents Landlord Tenant Ordinance Buffalo Grove traffic attorney traffic crimes filing a medical malpractice claim investment property Attorney Ken Apicella Illinois will lawyer Inverness civil lawyer commercial leasing Riverwoods estate planning lawyer Palatine Attorney Mt Prospect Attorney Barrington litigation attorney elder law Illinois attorney insurance claim denial surgical mistakes Inverness injury lawyer attorney fees probate fees marijuana Illinois pedestrian injuries, pedestrian fatality Illinois mortgages Rolling Meadows probate lawyer employment attorney distracted driving accidents Illinois rollover accident lawyers job lawyers advance healthcare directive Chicago estate planning lawyer foreclosure vacation home corporate law Des Plaines civil attorney criminal record Forcible Entry rest breaks Arlington Heights car accident lawyer personal injury claim blood alcohol content Arlington Heights trucking lawyer Palatine personal injury lawyer Illinois insurance lawyer Illinois business law atorneys speeding Rolling Meadows real estate attorney Palatine civil attorney llinois Real Estate Lawyers Association condo association Arlington Heights TBI attorney pay when paid contract criminal law Barrington Illinois estate planning lawyer Deer Park personal injury lawyer Rolling Meadows employment attorney Barrington real estate lawyer taxes civil rights violation comparative negligence health insurance dispute Illinois boating accident lawyer rent to own real estate contracts Illinois car accident attorney Illinois traffic accident lawyer digital evidence car accident lawyers Crystal Lake medical malpractice attorneys Barrington estate planning lawyer car crash injuries spinal cord injury Des Plaines Traffic Lawyer loss of consortium senior citizens liens estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, Schaumburg personal injury lawyer employees Arlington Heights wills and trusts attorneys traffic tickets insurance dispute liability sexual images Chicago traffic lawyer Illinois workers compensation lawyer Crystal Lake employment law attorney Schaumburg injury lawyer Illinois trusts attorney institutional trustee Illinois wills and trusts attorneys child safety TBI murder charges Rolling Meadows business lawyer drug crime Illinois injury lawyer Palatine probate lawyer appealing an insurance claim Crystal Lake car accident attorney Crystal Lake injury attorney Des Plaines motorcycle accident attorney real estate attorney Mount Prospect wills and trusts lawyers Barrington employment law firm Chicago employment attorney truck collisions medical research Des Plaines collections attorney mass shooting estate planning lawyer Des Plaines tax law firm real estate leasing medical malpractice Palatine employment law lawyer accidental death benefits severance agreements Arlington Heights car crash attorneys living trust vs will Schaumburg corporate attorney digital media accounts, estate planning, Arlington Heights estate planning attorney, pet bites Des Plaines real estate lawyer Inverness elder law lawyer icy parking lots texting and driving traffic accidents Illinois personal injury lawyers Arlington Heights Attorney estate attorney Crystal Lake employment attorney Arlington Heights wills and trusts lawyer traumatic brain injuries unpaid assessment Illinois insurance attorney Schaumburg employment attorney Rolling Meadows boating crash lawyer Deer Park traffic accident attorney Schaumburg traffic lawyer Illinois corporate lawyer defective products lawyer trust payments Rolling Meadows Traffic Lawyer Home Remodeling Repair Act Illinois pedestrian accident attorney Illinois small business murder defense Illinois law residential real estate internet life insurance lawyer bad faith insurance claims landlord tenant law preventing accidents Rolling Meadows medical malpractice lawyers breach of contract Barrington personal injury lawyer low-ball insurance settlement pedestrian accident preventable medical errors Illinois construction accident attorney Rolling Meadows car accident lawyers Joliet general practice lawyers pet law Rolling Meadows Attorney pain and suffering Palatine elder law attorney Illinois employment attorneys Illinois insurance dispute lawyers Barrington employment law attorney drug crimes Do Not Resuscitate Detainer Actions Deer Park medical malpractice attorney hiring employees insurance denial appeals Illinois defective products attorney Schaumburg personal injury attorney Chicago employment lawyer Inverness insurance attorney Crystal Lake civil litigation lawyer new real estate form first degree murder installment contracts Schaumburg drug defense lawyer cell phone tower data Illinois Smoke Detector Act Rolling Meadows traffic law firm Des Plaines personal injury attorney pedestrian-automobile accident deed transfer life insurance policy Des Plaines claims law firm underage DUI Illinois jet ski accident lawyer Illinois trucking safety Schaumburg criminal attorney contracts Rolling Meadows marijuana attorney digital assets Des Plaines drug crimes lawyer Barrington civil litigation attorney Illinois registered agent Barrington attorney wills and trusts dynasty trusts Des Plaines accident attorney Illinois employment law traffic violations auto accidents clemency expungement workers compensation benefits capital gains tax Buffalo Grove probate lawyer power of attorney Des Plaines medical malpractice attorney Des Plaines personal injury lawyer uninsured motorist Illinois workplace discrimination attorney construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation Illinois employee rights attorney. Illinois tax attorney personal injury Illinois wills and trusts probate Schaumburg civil litigation attorney insurance negligence Illinois Wage Payment and Collection Act subcontractor Palatine business attorney Arlington Heights injury attorney unauthorized overtime loopholes Illinois insurance claim attorney Illinois estate planning attorney Illinois insurance claim dispute lawyers Illinois pet lawyer cell phone accidents employment law, Illinois employment laws caretaker rights South Barrington real estate lawyer Buffalo Grove personal injury lawyer Illinois elder law attorney motorcycle accident lawyer product liability underinsured motorist income distribution deducation insurance adjusters wills Crystal Lake law firm paid sick leave license revocation Affordable Care Act trucking accident lawyers estate planning attorney Illinois estate planning estate planning for college students Schaumburg employment law attorneys dog bites Buffalo Grove traffic lawyers modern family estate planning rollover accidents controlled substance Illinois civil litigation lawyer CAM Illinois Transfer on Death Instrument Chicago insurance law firm DNR drug possession suspended license Buffalo Grove law firm crossover accidents insurance agents construction accidents ACA premises liability Crystal Lake medical malpractice law firm gift taxes products liability Mount Prospect real estate lawyer owner responsibility home inspection lawyer defective products FSLA rumble strips driving Retaliatory Discharge Barrington injury attorney sole proprietorship vacation home fines Palatine criminal defense lawyer Crystal Lake pet attorney Chicago insurance claim attorneys guardianship attorney Legal Info problem employees automated cars Chicago car accident lawyer drug crimes lawyer Illinois probate lawyer personal injury lawyer Buffalo Grove employment lawyer Palatine real estate lawyer holiday statistics Crystal Lake traffic lawyer Long Grove wills and trusts attorneys Chicago lawyer Illinois job attorney Illinois LLC creation wrongful death wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace power of attorney for healthcare operating agreements Illinois medical malpractice claim Policy Cancellation nursing home negligence swimming pools disability benefits Illinois medical malpractice attorney Schaumburg real estate lawyer School Visitation Rights Act Schaumburg medical malpractice lawyer elder abuse Palatine corporate law attorneys Barrington business law firm Arlington Heights personal injury lawyer IRA benefits denial of life insurance slip and fall revenge porn Des Plaines DUI attorney Arlington Heights criminal lawyer workers comp Colin Gilbert Rolling Meadows personal injury lawyer workers compensation Rolling Meadows insurance claims Rolling Meadows personal injury attorney Inverness estate planning lawyer foreclosed rental property special needs trust trench injuries Illinois workers compensation attorney Barrington estate planning attorney license reinstatement employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, Long Grove estate planning attorney Illinois Sales Representative Act car collision Barrington criminal defense lawyer Exclusions Palatine injury attorney life insurance minimum wage real estate zoning traffic violations defense probate claims process Buffalo Grove corporate attorney Deer Park workers compensation lawyer Barrington employment attorney Illinois criminal defense attorney Arlington Heights lawyer Palatine law firm POA cell phone estate plan Crystal Lake medical malpractice lawyer natural gas explosion Arlington Heights estate planning attorney Arlington Heights tax lawyer employment lawyer Schaumburg car accident attorney FMLA business litigation medical malpractice claims car crash hit and run accident estate planning trusts DUI attorney license suspension Whistleblower Claims trustee civil litigation attorney marijuana crimes attorney Illinois wrongful termination lawyer Schaumburg criminal law attorney meal breaks IRELA Deer Park accident attorney field sobriety test natural gas consent to a search license Rolling Meadows DUI lawyer boating accidents digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Buffalo Grove real estate attorney Illinois employment lawyer South Barrington real estate attorney Palatine punch death DGAA head on collisions Schaumburg probate attorney Palatine workers compensation lawyer condo IRA trust transfer Rolling Meadows litigation lawyer overtime pay employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys food poisoning bicycle dooring accidents Inverness real estate lawyer spinal cord injuries Illinois personal injury attorney trucking accidents Crystal Lake employment lawyer Crystal Lake tax lawyer Mount Prospect elder law attorney real estate contract Illinois living will GM ignition switches Inverness traffic law firm Super Mario Arlington Heights real estate lawyer drugs Barrington Traffic Lawyer fiduciary rule delay Illinois workplace lawyer criminal defense Crystal Lake bike accident lawyer Liquor Control Act wage theft pizza emoji insurance dispute attorney employment law Schaumburg estate attorney Barrington workers compensation attorney in terrorem provision financial advisors living wills traffic offenses healthcare claims LLCs right to work healthcare overtime violations Illinois traffic attorney Illinois estate planning law firm Chicago will attorney, social media platforms, Illinois estate planning lawyer, insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys murder insurance claim delay Transfer on Death Instrument homestead rights Illinois insurance claims lawyers DUI defense Rolling Meadows employment law attorneys car crashes Rolling Meadows tax attorney Buffalo Grove medical malpractice lawyers Long Grove real estate attorney Chicago corporate attorney Inverness corporate attorney Crystal Lake personal injury lawyer probate lawyer personal injury accidents Kenilworth estate planning lawyer Kenilworth estate planning attorney rollover car crashes changes to mortgage law whistleblower protections DUI BAC real estate Palatine insurance lawyer small business insurance claim fiduciary rule insurance claim dispute Schaumburg personal injury lawyers ken apicella Des Plaines insurance attorney creditors Arlington Heights accident attorney Crystal Lake will lawyer Fair Labor Standards Act underfunded trust Inverness personal injury attorney Illinois employment law firm employment contract reckless homicide deadly crashes estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers Barrington boating accident attorney anesthesia errors brain injury car accident lawyer probate claims workplace sexual harassment Barrington drug crime attorney Illinois real estate Schaumburg estate planning attorney Long Grove real estate lawyer back injuries Illinois business lawyer traffic deaths Schaumburg elder law lawyer Illinois lawyer Schaumburg personal injury claims Des Plaines drug lawyer real estate closing personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys Illinois insurance claim dispute lawyer Illinois employment laws denied insurance claim Inverness accident lawyer Palatine corporate attorney Rolling Meadows personal injury lawyers liability claims Rolling Meadows traffic attorney federal regulations for LLCs Illinois traffic attorneys Schaumburg estate planning lawyer drunk driving fault based insurance Illinois Probate Act of 1975 Illinois bicycle safety social media after death wrongful termination Palatine estate planning lawyer agent eluding a police officer slip and fall accidents bike accident Palatine traffic accidents Palatine construction attorney Self-Directed IRA Accounts Palatine trusts lawyer Buffalo Grove car accident lawyer Arlington Heights Traffic Lawyer insurance attorney insurance disputes Rolling Meadows accident lawyer hands free device Arlington Heights wills and trusts lawyers Illinois red light cameras Deer Park motorcycle accident lawyer Barrington personal injury attorney Inverness real estate attorney Deer Park traffic lawyer insurance denials Buffalo Grove insurance claim dispute lawyers life insurance claims real estate attorneys Illinois Workers’ Compensation Commission Des Plaines Illinois speeding lawyer Illinois traffic laws Rolling Meadows estate planning attorney Employment Discrimination Law blended families Arlington Heights personal injury attorney civil litigation estate tax Crystal Lake insurance lawyer federal crimes living trust benefits Food and Drug Administration's Food Safety Modernization Act Crystal Lake personal injury attorney Schaumburg construction accident lawyer Illinois Human Rights Act Arlington Heights traffic attorney Illinois driving without license commercial leases fatal car accidents motorcycle accident PTSD dram shop law Crystal Lake car accident lawyer denied insurance claims insurance claim denials Arlington Heights wills and trusts attorney BUI Rolling Meadows drug defense attorney medication errors Illinois medical malpractice lawyers real estate lawyer college kids Illinois employment law attorney pedestrian accidents Deer Park DUI lawyer texting while driving involuntary manslaughter no contest clauses Crystal lake insurance dispute attorney Crystal Lake estate planning lawyer gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys Illinois insurance disputes Palatine traffic lawyer Fourth of July drunk driving statistics Federal Food Drug and Cosmetic Act car accidents Kenilworth estate planning attorneys DUI penalities criminal breathalyzer test Arlington Heights insurance attorney Illinois motorcycle accident lawyer comp time Crystal Lake accident attorney pregnant women golf accidents Des Plaines injury law firm Illinois traffic ticket lawyer construction contracts estate planning trusts sexual harassment landlord forming a corporation in Illinois traumatic brain injury employee rights Chicago trucking accident attorney Barrington criminal lawyer Crystal Lake business law attorneys privacy ObamaCare medical marijuana distracted driving accident victims Rolling Meadows employment law attorney Arlington Heights pedestrian accidents compensatory time insurance agent negligence medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers employee discrimination Illinois personal injury lawyer Illinois home inspection BAIID living trust Thanksgiving Home Sale Contingencies Illinois DUI attorney bicycle accidents dealing with problem employees Palatine drug lawyer Rolling Meadows insurance dispute lawyers, insurance dispute Schaumburg Attorney Des Plaines pet law attorney Barrington medical malpractice lawyers Jay Andrew Illinois personal injury personal injury attorney Inverness probate lawyer Illinois Trust Code Rolling Meadows criminal attorney Deer Park criminal attorney Long Grove estate planning commercial real estate independent contractor Class A misdemeanor Illinois collections attorney Des Plaines real estate attorney trauma after an accident Rolling Meadows insurance attorney Buffalo Grove injury lawyer IRS privacy laws insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys jet ski Palatine civil litigation lawyer traffic laws Palatine employment attorney manufacturing Long Grove estate planning attorneys Rolling Meadows insurance lawyer Arlington Heights employment attorney Des Plaines personal injury lawyers insurance claim dispute attorney Rolling Meadows corporate lawyer employee misclassification Colin H. Gilbert Crystal Lake criminal defense attorney startup company caregiver Illinois employment law attorneys Buffalo Grove personal injury attorney Palatine employment lawyer personal injury law firm unfunded trust boating DUI Schaumburg insurance lawyers Family Medical Leave Act Rolling Meadows insurance dispute lawyers Illinois medical malpractice case Arlington Heights medical malpractice lawyer Chicago estate planning tax attorney Chicago will attorney Schaumburg wrongful death attorney Buffalo Grove criminal defense lawyer Crystal Lake pedestrian accident lawyer DMV Illinois real estate lawyer

Archive