Purchasing insurance is just smart business. No matter their size, businesses should always take the time and money required to ensure they are protected against many of the most common and most costly events that businesses can face. Business attorneys in Wheeling are often asked what protections businesses can find to cover their damages. Several of these commonly purchased types of insurance are offered by major insurers and are often bundled into plans. Others may be available on an … [Read more...]
Archives for April 2015
What is a balloon mortgage?
When homebuyers in Illinois go to purchase a new home with the help of a real estate attorney in Gurnee, one financing option available to them is a balloon mortgage. These loans require a payment at the end of a specific time period that is larger than the regular monthly mortgage payments. Typically, the balloon payment is twice as much as the loan’s average monthly payment and can often equate to tens of thousands of dollars. The benefits of a balloon mortgage There are many benefits … [Read more...]
3 things you should look for in a real estate agent
When property owners in Illinois get ready to sell their home or find a new one, they often seek the assistance of a Lake Bluff real estate lawyer and a real estate agent. To ensure the buying or selling process goes smoothly, there are a few different qualities buyers and sellers should look for in their real estate agent. Creativity Some real estate transactions go exactly as planned, while others are fraught with delays and other unique situations. Although buyers and sellers cannot … [Read more...]
Avoid estate taxes by setting up an irrevocable life insurance trust
In 2013, the U.S. Congress approved a permanent estate tax exemption for people who have assets that total less than $5 million. Factoring inflation into the equation, that means that people today can avoid the 40 percent federal tax with as much as $5.43 million in assets. The state of Illinois can also impose a 16 percent tax on any estate valued at more than $4 million. Any Buffalo Grove estate planning attorney knows that cumulative assets that go above the $5.43 million federal … [Read more...]
Is your estate plan missing these 3 items?
A woman worried about her pets’ wellbeing was motivated to start a sanctuary for animals whose owners have passed away. According to the Huffington Post, dozens of animals have gone to stay with the woman, as their owners did not include the pets in their estate plans. As an estate lawyer in Libertyville has seen, pets are just one item that are often left out of legal documentation. For those who are planning, it is important to remember to include these three items: Pets For many … [Read more...]