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February, 2015 Archives

Archives for February 2015

How does probate work in Illinois?

Probate is a process that occurs in court and is sometimes, but not always, required after a person passes away. The main purpose of the probate process is to make it clear who should inherit the deceased person’s assets and ensure taxes and other debts are paid. During this process, the estate’s executor, who is the person named in the deceased person’s estate planning documents with the help of an Illinois estate planning attorney, must have the estate’s assets appraised, identify and … [Read more...]

Keep taxes in mind when planning your estate

Estate tax is defined as the tax on a person’s right to transfer property after death. There are several strategies those who are in the midst of the estate planning process should consider implementing with the assistance of their estate planning lawyer in Illinois to ensure that their estate taxes are as minimal as possible once they pass away. Obtain a current asset valuation This step is particularly important for estates that include assets that are difficult to value, such as a … [Read more...]

Commercial real estate: 3 risks to consider

There are many benefits associated with renting commercial property and many advantages associated with purchasing it in Illinois. Business owners who are interested in purchasing commercial property with the assistance of their Illinois real estate lawyer and real estate agent should consider three important risk factors before they make the final decision to buy. The location may not always be beneficial When it comes to owning a business, location is everything. Those who are thinking … [Read more...]

Should you really buy the biggest house in the neighborhood?

When property buyers go to purchase a new home with the assistance of a real estate agent and a real estate lawyer in Illinois, they are often attracted to the largest home in the neighborhood where they want to live. While having enough room is beneficial, there are a few reasons why home buyers should avoid purchasing the biggest home they possibly can. Why the biggest house isn’t necessarily the best After purchasing the largest home in a neighborhood, homeowners may have a difficult … [Read more...]

Business costs: Evaluate large purchases before buying

For businesses, keeping operating costs low without limiting growth can be a struggle. A business lawyer in Illinois sees many companies who attempt to initially buy small and improve their systems later as business expands. However, this may end up costing more in the long run. To avoid such a situation, businesses should always evaluate their large purchases prior to committing to them. The evaluation should include a review of how flexible, scalable and manageable a purchase will be to … [Read more...]

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