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December, 2015 Archives

Practice Areas

Archives for 2015

Creating Effective Non-Compete Clauses

Posted on December 29, 2015 //

One of the easiest ways for a competitor to gain a competitive advantage is for them to acquire a company's most valuable asset; the employees. They have the skills, experience, and knowledge competitors are eager to acquire. Effectively drafted non-compete clauses can reduce the risk that employees will end up on the competition's payroll. Non-compete agreements should be independent of other clauses and covenants. Ideally, it should be a standalone agreement. This limits the ability of a … [Read more...]

Filed Under: Business Transactions //

The Planning Stage of Advanced Care

Posted on December 10, 2015 //

Estate planning accomplishes several objectives, including the deferral or reduction in estate taxes, avoiding probate, and ensuring that the defendant's assets pass on to heirs of his or her choosing. What happens to that person medically is another aspect of estate planning, and these details can be contained in an advance care directive. This part of estate planning is a legal document that is created while the person is still mentally and emotionally capable. It indicates their decisions, … [Read more...]

Filed Under: Estate Planning, Transportation Law //

Trucking Companies, Owner-Operators and the Dangers of Incorrect Paperwork

Posted on December 3, 2015 //

It is common for truckers to own their own business, both owning and driving a truck. Large trucking companies often engage in business partnerships with owner-operators, a practice that can prove rewarding for both parties. When the partnership is not properly documented, however, problems can arise, leading to legal disputes which are thoroughly avoidable. Illinois Transportation Laws In order to keep drivers and all who travel the roads safe, Illinois transportation laws include … [Read more...]

Filed Under: Transportation Law //

New Rules for Commercial Drones

Posted on December 1, 2015 //

From medical deliveries to real estate surveys, an increasing number of business transactions and practices now involve the use of commercial drones. However, as the world adjusts to this new technology, government regulations continue to evolve too. Because these small, unmanned aircraft continue to interfere with airplane flight paths, the Federal Aviation Administration (FAA) is introducing new requirements to enforce existing rules for recreational and commercial drone use. Registration … [Read more...]

Filed Under: Commercial //

Spike in Deed Fraud An Epidemic in Major Cities

Posted on November 29, 2015 //

As advances in technology continue to develop and an increasing number of Realtors place properties and sales records online to enhance the transparency of real estate transactions, a spike in deed fraud has become an epidemic in some major cities. The rising threat has begun to target unsuspecting homeowners in cities like New York, Chicago and Detroit. A recent report about Sybil Patrick, whose beautiful brownstone home was sold for $750,000 without her knowing, clearly portrays the … [Read more...]

Filed Under: Real Estate //

Could incorporation have protected Cubs fan

Posted on November 2, 2015 //

The only thing Matt Smerge wanted was to raise money for his teenage son's college fund. Instead, he would up in an altercation with a Chicago police officer suing his beloved baseball team and putting his personal finances at risk. If Smerge's business were incorporated, there would be little chance a judgment creditor could attach them to satisfy a judgment against the business. Smerge's saga started when he decided to raise money to send his son to college by publishing and selling a $2 … [Read more...]

Filed Under: Business Transactions //

Avoid these dangers when negotiating a commercial real estate lease

Posted on October 15, 2015 //

Landlords often push longer lease terms, offering better pricing or other incentives to sweeten the deal. Yet without flexibility, a small business locked in a long-term lease may suffer should it encounter unexpected growth or decline. Limiting the duration of a real-estate lease to one to two years will better suit the needs of less mature businesses. A real estate lawyer in Chicago can help you negotiate renewal options with reasonable limits on rent increases. (article continues … [Read more...]

Filed Under: Real Estate //

Rahm Emanuel Requests Significant Raise to Illinois’ Commercial Property Taxes

Posted on October 2, 2015 //

Mayor Rahm Emanuel is seeking to raise taxes on commercial property holders in the hopes that these tax increases will stave off the state's ever burgeoning budget shortfalls. This past week, he pitched his proposals to Chicago's 50 Alderman seeking their support of the largest property tax increases in the history of Illinois. At issue is the philosophy of how to deal with the city's budget shortfalls which exceed $9 billion dollars a year. Coupled with over $159 billion in IOU's owed to … [Read more...]

Filed Under: Estate Planning, Real Estate //

Selling your home in the winter

Posted on September 23, 2015 //

People are often reluctant to put their home on the market with winter approaching. The reality is that marriages and births, promotions and job transfers happen year-round, so people are looking for houses during all seasons. Selling a home during winter can actually work to the seller’s advantage, since potential buyers are usually relocating out of necessity, creating greater urgency. Regardless of the season, the key to selling any home is creating appeal. Adding thoughtful touches … [Read more...]

Filed Under: Real Estate //

Be honest when discussing your children’s inheritance

Posted on July 29, 2015 //

When a Brooklyn art collector died, he left seven Monet works of art to his son. According to JP Updates, the son was supposed to keep one painting and distribute the rest among his six siblings. However, the son fell ill and struggled financially, resulting in a multi-family dispute over the paintings. Any Bensenville estate planning lawyer would know that leaving property to people with the intention of having them distribute it to others leaves room for uncertainty. Discussing plans for … [Read more...]

Filed Under: Estate Planning //

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