March, 2015 Archives

Archives for March 2015

Should unmarried couples in Illinois establish an estate plan?

According to data from the U.S. Census Bureau, the number of people who are choosing to cohabitate rose by 25 percent between 2000 and 2010. Those in Illinois and across the country who don’t want to get married should know that the law is not necessarily on their side when it comes to taxes, property division and health care decisions. … [Read more...]

What kind of voting rights can I assign to shares in my business?

When investors hold shares of a privately held corporation, they are granted certain rights as partial owners of the company. While state corporation laws must be adhered to, private corporations’ articles of incorporation and bylaws can grant and govern many of these shareholder rights, including voting rights. … [Read more...]

What are the potential liabilities if you rent out your half of a duplex?

For many property owners in Illinois, owning a duplex and renting out the other half of it is a beneficial arrangement. However, before embarking on the renting process with the assistance of a real estate lawyer in McHenry, those interested in becoming landlords should familiarize themselves with some of the potential liabilities they face. … [Read more...]

Fleet expansion considerations

According to Truckinginfo.com, the vast majority of carrier fleets in the U.S are made up of 25 trucks or less. Many of these companies are likely interesting in expanding their fleets in hopes of growing their company and profits. … [Read more...]

Is there a benefit to outsourcing for small businesses?

Outsourcing is a business practice that has been around for decades. In order to save the costs associated with hiring skilled workers in certain areas, companies can send that work to other businesses that specialize in those areas. … [Read more...]

What 3 things should you consider when closing a business?

Making the decision to close a business can be a difficult step to take. Whatever the reason behind the choice, business owners should take the time and effort to ensure that they close their businesses properly. … [Read more...]

2015 brings 2 changes to estate tax law

Recently, the Internal Revenue Service announced what the gift and estate tax limits would be for the year 2015. These numbers, which are adjusted annually to account for inflation, matter to those who work with their estate planning attorney in Illinois to reduce their estates by gifting assets and money to family members or friends. … [Read more...]

What is a Certificate of Zoning Compliance?

When those in Illinois work with their Chicago real estate lawyer to transfer ownership of or sell residential property, a Certificate of Zoning Compliance must be obtained. These certificates verify that the number of residential dwelling units contained in the property meet legal requirements under the Chicago Zoning Ordinance. … [Read more...]

Should my business carry professional liability insurance?

A recent report from Chubb Corp. found that many privately held companies are critically underinsured. Only one-third of the survey participants had purchased professional liability insurance, which protects a business against a number of risks. … [Read more...]

I’m ready to hire employees: Now what?

According to the Illinois Department of Employment Security, there are roughly 6 million people employed in the state. Compared to a year ago, the data now reflects a nearly 1 percent increase in the number of jobs. As a business lawyer in Lake County knows, it is a good sign for the economy and for the business when hiring is on the rise. … [Read more...]

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