What to Expect at Closing

Closing costs include fees paid to third parties that facilitate the sale of the property and can include inspections, attorneys’ fees, and brokerage fees. Closing costs are typically paid once the sale is closed but some are paid before (i.e. home inspection fees). Closing costs range from two to seven percent of the purchase price. The method used to calculate closing costs dramatically changes the closing costs imposed because buyers and sellers respectively do not share in the costs … [Read more...]

A Revocable Living Gun Trust May Be Right On Target

Firearms, including automatic weapons and gun collections, that are to be passed down to beneficiaries require special consideration and creating a revocable living gun trust may help avoid unintended consequences in the future. A gun trust is a way to legally provide for the disposition of guns to intended beneficiaries while complying with the National Firearms Act (NFA) and any applicable state laws. What Is a Revocable Gun Trust? When a revocable gun trust is established, the owner of the … [Read more...]

Finding the Best Business Attorney in Illinois

Finding the right business attorney depends on reaching out to a personal network, leveraging online tools, and applying discerning inquiries to weed out unqualified candidates. A business attorney can work as a force multiplier for small, medium, and big enterprises by empowering the company to expand into new business opportunities, increase hiring, and sign an extended lease. However, selecting the wrong attorney can be a drag on a company’s growth just as it is poised to expand … [Read more...]

You’ve Been Named Executor: Now What?

When an individual is named as the executor of a deceased person's estate, he or she is responsible for winding down the decedent's affairs. This includes protecting the assets of the estate, notifying creditors and beneficiaries, settling debts and paying the taxes owed by the estate, and distributing property to the beneficiaries. For those who have never executed a will before, the position can be challenging and a full understanding of the duties and liabilities of an executor is vital. If … [Read more...]

The Biggest Threat to Your Potential Inheritance Might Surprise You

Family feuds and disagreements over the distribution of an estate are an even bigger threat than taxes when it comes to an individual's inheritance. Whether the family is united or divided, it is essential to clarify even the tiniest details during the estate planning process. If that has not happened and the individual is already deceased, working closely with a probate lawyer is the best way to ensure an equitable division of assets before disagreements grow into legal battles with loved … [Read more...]

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