Business owners can face a continual stream of new challenges as their enterprises grow and change over time. What may start as a relatively small business venture that is manageable by the sole owner can one day be in need of additional management help. When this happens, the owner must decide what responsibilities to hand over to other personnel. For example, internal legal counsel may be useful for some companies if the risk of litigation is of high concern. The Houston Chronicle ran an … [Read more...]
Archives for 2014
What responsibilities should you hand over to the president of your business?
Posted on December 8, 2014 //
Planning to buy a house? Make sure you build up your credit
Posted on December 7, 2014 //
When property buyers in Illinois acquire a mortgage, the interest rate on the loan is significantly impacted by their credit score. Typically, those buying property who have a higher credit score will receive a better interest rate than those who have a lower rating. In some situations, buyers who have a poor credit score may not even be able to get a loan at all. What lenders look at When applying for a mortgage, lenders look for several different variables on a buyer’s credit report in … [Read more...]
3 things to look for in a mortgage broker
Posted on December 6, 2014 //
When buyers in Illinois go to purchase a new home, a mortgage broker matches them with a lender who then provides them with a loan. One of the main benefits of working with a broker is that they have access to a variety of different mortgage lenders and can introduce buyers to the best possible interest rates and loan terms. However, it is essential that buyers look for three qualities in their broker to ensure that the partnership is beneficial. Has an understanding of the borrower’s … [Read more...]
Can I include my pets in my estate plan?
Posted on December 5, 2014 //
When a cat owner in California died, his family took the feline to a shelter to be euthanized. According to The Humane Society, an animal organization called BrightHaven stepped in to save the Siamese cat. Many pets whose owners die are not as lucky, as the Humane Society points out that as many as 500,000 animals end up in shelters when owners die or become incapacitated and there is no plan in place. For people in Illinois and across the country who have pets, it is important to note … [Read more...]
Changes coming to Illinois’ power of attorney law
Posted on December 4, 2014 //
According to the research group Purple Insight, older Americans strongly believe that doctors should strictly follow health care directives that a patient has put in place. The firm surveyed more than 1,000 adults who are 50 years or older, and roughly 25 percent of the participants stated that either they or a loved one has had a negative experience in which a physician administered either unwanted or unnecessary treatment. This survey clearly illustrates the importance of having a power … [Read more...]
The pros and cons of using business investors
Posted on October 28, 2014 //
When launching a new business in Illinois, entrepreneurs have several options to consider as means to fund their new enterprise. As with many things, there is no right or wrong way to obtain necessary funding as the decision can vary based on many criteria. Every business owner should evaluate the choices individually as making a fully informed decision is one of the most important parts of making the right decision. Understanding investor options There are three primary types of business … [Read more...]
How do you register a business in Illinois?
Posted on October 27, 2014 //
Starting a new business can be a very exciting venture for those involved. The process of setting up a new business can, however, seem complicated to some businesspeople especially when legal filings are required. There are many choices to make and no shortage of specific processes to complete. Following is a guide to help people understand the basics of how to get a new company registered and operational in Illinois. As indicated by the United States Small Business Association, one of the … [Read more...]
Illinois property: What is the difference between private rights and public rights?
Posted on October 25, 2014 //
When a person in Illinois owns a piece of property, whether it be public or private, they are given specific rights. These may include some of the following: The right to use the property how they see fitThe right to earn income from the operations that occur on the propertyThe right to enforce the privileges they are entitled to for owning the propertyThe right to transfer ownership of the property to others However, these rights can vary drastically depending on where the real estate is … [Read more...]
How does a reverse mortgage affect your heirs?
Posted on October 24, 2014 //
A woman in Florida chose to sign over the rights to her home to her husband, which would enable him to qualify for a higher reverse mortgage loan amount. According to the Buffalo News, the 62-year-old man took died shortly after taking out the loan. As chief among the man’s heirs, the wife inherited the home but had trouble getting her name on the deed. The loan requirements mandated that she qualify for a refinance in order to pay back the reverse mortgage, which is something she struggled … [Read more...]
Calculating your future mortgage payment
Posted on October 19, 2014 //
Whether they are purchasing their first home or buying an investment property, those looking into buying property in Illinois should understand what their mortgage payment will be once they have made this purchase. Doing this prevents buyers from running into problems in the future with their finances. Factors that impact mortgage payments While the price of the property plays a large role in what a homeowner will pay every month on their mortgage, this amount also depends on several … [Read more...]
