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July, 2014 Archives

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Archives for July 2014

Federal Motor Carrier Safety Administration announces drug and alcohol clearinghouse rule

Posted on July 28, 2014 //

For several decades, the nation as a whole has seen an increase in laws designed to crack down on drunk or drugged driving. These include detection methods as well as penalty sets. In Illinois, the consequences drivers face if convicted of DUIs can be great. This effort includes commercial drivers as well. The Federal Motor Carrier Safety Administration will now be creating a new process and program aimed at reducing the number of commercial drivers operating vehicles while under the … [Read more...]

Filed Under: Transportation Law //

The Sarbanes Oxley Act and your business: What you need to know

Posted on July 22, 2014 //

Financial Executives International recently published an article indicating that full compliance with the now 12-year-old Sarbanes Oxley Act has yet to become reality. Citing results from its own research as well as from Protiviti’s 2014 Sarbanes Oxley Compliance Survey, FEI also reports that the majority of executives believe the costs associated with continued compliance will keep growing or, at best, hold steady with current levels. Chicago area business owners are likely to experience … [Read more...]

Filed Under: Business Transactions //

How to find the right investors for your business

Posted on July 22, 2014 //

The right financial backing is a critical component to success for Illinois businesses. Investment capital provides the necessary means by which new businesses can be launched. It can also propel existing companies to new levels, driving both customer growth and profits. However, many businesses do not understand how to choose the right investors. In order to establish a solid financial foundation, small and large companies alike should understand their needs, research potential investors and … [Read more...]

Filed Under: Business Transactions //

What happens if an heir doesn’t want the inheritance?

Posted on July 15, 2014 //

A farmer who lay on his deathbed asked his son to make sure that the land would always stay in the family. Upon his death, the farmer’s will left 320 acres for his wife and 160 acres for each of his four children. While some family members were overjoyed with their inheritance, others did not expect the million-dollar mortgages that came with the land. According to Iowa Farmer Today, several of the farmer’s children were not equipped to handle inheriting that level of debt. In Illinois and … [Read more...]

Filed Under: Uncategorized //

When making your estate plan, don’t forget your digital property

Posted on July 15, 2014 //

When a woman passed away early this year, she left behind an iPad, among other things. The woman’s sons, who were named the executors of her will, were unable to unlock the device as they did not know their mother’s Apple ID and password. According to The Guardian, the men sought help from Apple but were met with an onslaught of demands. The company cited privacy laws and said that in order to grant them access, the men would need to provide a copy of the woman’s will, the death certificate … [Read more...]

Filed Under: Estate Planning //

Buying property: Tips on making a good offer

Posted on July 15, 2014 //

After finding the perfect home or piece of property in Illinois, buyers will need to offer the seller an amount they think the property is worth. For those buying property, not understanding the market, offering an extremely low bid or failing to understand how much the home is worth can harm a purchaser’s ability to gain the seller’s consent. … [Read more...]

Filed Under: Business Transactions //

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