December, 2017 Archives

Archives for 2017

Deed Restrictions Can Ruin Your Dream Home

Deed restrictions can have a big impact on purchasing or building a new home, selling an existing home, renovations, and even how a property is used. Since deed restrictions are attached to the land, they can continue to cause problems for both current and future owners of a property for many years. What is a Deed Restriction? Deed restrictions, or restrictive covenants, are provisions in a property deed that place limits on the use of the property and/or building on the property. Such … [Read more...]

What Is an Indemnity Agreement (and Should You Use One)

An indemnification agreement is an essential document that helps protect businesses from the risks associated with doing business. It is a document that identifies the risks clients and guests accept when visiting a client's property or utilizing their products or services. This effectively shields the business from lawsuits should clients or guests experience property damage or personal injuries under certain circumstances. Types of Indemnities There are three types of indemnities. A … [Read more...]

Consider These Strategies Before Leaving Your Kids An Inheritance

Estate planning techniques like the incentive trust can nurture healthy ambition while also ensuring that an inheritance will not interfere with children going on to lead meaningful lives of their own. According to Forbes money can enable children to have a financial cushion that helps them lead better and more fulfilling lives. Money can also suck the ambition and initiative out of children who are not prepared for the sudden influx of wealth. Is Inheriting Money Always a Bad Thing? CNN News … [Read more...]

What You Should Know About DBAs

Since improper use can expose companies to compliance violations and civil lawsuits, business owners should familiarize themselves with the details of DBAs. “Doing Business As” (DBA) is a term used to enable a company to operate under a name that differentiates from its official filing documentation. DBAs give companies the flexibility to create “new” business ventures that attract customers. The Basics of DBAs DBAs are also known as fictitious business names, trade names, and assumed business … [Read more...]

Choosing the Right Probate-Avoidance Method

The probate-avoidance strategy decedents use can determine if their heirs are burdened with debt. The heirs of a person who dies with debt are responsible for settling those debts. The estate is responsible for settling the final affairs (i.e., debts, tax obligations, etc.) of the decedent and the remainder is distributed to the decedent’s heirs in accordance with the decedent’s instructions or state law if there is no will. However, in some circumstances, the heirs can be saddled with the … [Read more...]

Don’t Sign A Franchise Agreement Containing These Clauses

Many franchise agreements include “deal-breaker” provisions such as insufficient start-up support, liquidated damages clauses, mandatory arbitration stipulations and more. Before signing a franchise agreement, entrepreneurs should carefully review the agreement and be wary of those that contain certain components. A franchise is an independently owned and operated business that is part of a larger network of related businesses under the umbrella of a large parent company. The parent company … [Read more...]

Will Estate Tax Be the Death of Your Small Business?

While estate tax isn’t necessarily the “death” of a small business, it could result in a significant burden for a handful of small businesses. The estate tax is sometimes levied on an estate upon the death of the decedent. An estate is a collection of assets and monies left behind by someone who passes away. The estate tax is decried by political opponents for causing double taxation because the assets composing the estate are post-tax dollars. Proponents of the tax argue that the estate tax … [Read more...]

Due Diligence for Your Growing Business

Due diligence is a critical stage in any commercial acquisition. It is the comprehensive and necessary review in a commercial acquisition to ensure that the deal meets the needs of all companies involved. Due diligence involves the rigorous evaluation of a company’s financials, personnel, liabilities, technology, intellectual property, sales, strategic vision, and other operations concerning the health and future of the acquisition. What Is Due Diligence? The composition of a due diligence … [Read more...]

Check With HOA For Defects Before Buying A Condo

Homeowners’ associations (HOAs) are valuable resources when checking for possible defects before purchasing a condo. Because the HOA is not incentivized by the possibility of a large payout or to lie, deceive or mislead a prospective buyer, consumers may be able to access more detailed and honest information than they might otherwise. Sellers are incentivized to paper over defects in the building or other issues that are currently being contested because their goal is to sell the unit and move. … [Read more...]

Treating Children Differently but Fairly in a Will

Parents sometimes leave unequal inheritances to their children and just because these amounts are uneven doesn’t necessarily mean they are not fair. Decisions are often based on the needs of adult children, their achievements, major gifts that were already given, and alternative forms of estate planning. The Unequal Situation Parents often create their wills with the current financial situations of their children in mind. The following is an example of a scenario that a Chicago will attorney … [Read more...]

Get Help Today!

Simply fill out the our online form, and one of our attorneys or staff members will contact you to schedule your appointment.

We value your privacy. Your information will not be shared without your permission.

captcha

The use of the internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.
I have read and understand the disclaimer

Memberships & Associations