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April, 2015 Archives

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Archives for April 2015

What does business insurance cover?

Posted on April 20, 2015 //

Purchasing insurance is just smart business. No matter their size, businesses should always take the time and money required to ensure they are protected against many of the most common and most costly events that businesses can face. Business attorneys in Wheeling are often asked what protections businesses can find to cover their damages. Several of these commonly purchased types of insurance are offered by major insurers and are often bundled into plans. Others may be available on an … [Read more...]

Filed Under: Business Transactions //

What is a balloon mortgage?

Posted on April 15, 2015 //

When homebuyers in Illinois go to purchase a new home with the help of a real estate attorney in Gurnee, one financing option available to them is a balloon mortgage. These loans require a payment at the end of a specific time period that is larger than the regular monthly mortgage payments. Typically, the balloon payment is twice as much as the loan’s average monthly payment and can often equate to tens of thousands of dollars. The benefits of a balloon mortgage There are many benefits … [Read more...]

Filed Under: Real Estate //

Should you lease your trucks to your drivers?

Posted on April 9, 2015 //

The decision on whether or not to lease company trucks to drivers is one of the largest and most complicated decisions a carrier can make. A transportation lawyer in Vernon Hills knows that the potential consequences – both good and bad – can be far-reaching for a company, depending on if the leasing is done properly or not. Prior to engaging in a contract for leasing and purchasing company trucks with drivers, carriers should consider the following, including commonly seen benefits and … [Read more...]

Filed Under: Transportation Law //

Avoid estate taxes by setting up an irrevocable life insurance trust

Posted on April 6, 2015 //

In 2013, the U.S. Congress approved a permanent estate tax exemption for people who have assets that total less than $5 million. Factoring inflation into the equation, that means that people today can avoid the 40 percent federal tax with as much as $5.43 million in assets. The state of Illinois can also impose a 16 percent tax on any estate valued at more than $4 million. Any Buffalo Grove estate planning attorney knows that cumulative assets that go above the $5.43 million federal … [Read more...]

Filed Under: Estate Planning //

Is your estate plan missing these 3 items?

Posted on April 3, 2015 //

A woman worried about her pets’ wellbeing was motivated to start a sanctuary for animals whose owners have passed away. According to the Huffington Post, dozens of animals have gone to stay with the woman, as their owners did not include the pets in their estate plans. As an estate lawyer in Libertyville has seen, pets are just one item that are often left out of legal documentation. For those who are planning, it is important to remember to include these three items: Pets For many … [Read more...]

Filed Under: Estate Planning //

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