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Which legal structure is right for your business?

Posted on May 22, 2014 //

Among all of the choices made when a business is formed, legal structure is an important decision many people in Chicago, Illinois, overlook. Legal structure determines how a business is taxed, how much liability the owners take on and even how much paperwork owners must maintain. Choosing the wrong kind of business structure can have lasting consequences, which is why business owners should carefully research their options and consider seeking expert help. Basic structures  Four … [Read more...]

Filed Under: Business Transactions // Tagged: , , , , , , ,

About Illinois Business Formation part 3

Posted on May 22, 2014 //

How Does the Probate Process with a Will Differ from the Intestate Probate Process? If a decedent dies intestate (without a will), the property will be distributed to the beneficiaries according to state law. If there are no relatives, the property will go to the state. If minor children are impacted by the decedent’s death, a guardian ad litem will be appointed to determine guardianship issues. Additionally, intestate probate proceedings are public proceedings, with all information publicly … [Read more...]

Filed Under: Uncategorized //

Regardless of your age, you should have an estate plan

Posted on May 20, 2014 //

Most people, if not all, can benefit from having rules and parameters in place for others to follow at the time of their death. These rules are called estate plans. While creating such a plan may be an uncomfortable thing for many to attempt and deal with, it is a vital part of maintaining one’s assets and preparing for the future. Regardless of a person’s age or wealth, these plans can make a big difference in how their loved ones fare when they pass away. … [Read more...]

Filed Under: Estate Planning // Tagged: , , , , , , ,

Adhering to The Illinois Vehicle Code for commercial vehicles

Posted on May 19, 2014 //

In 2010, The University of Illinois at Chicago released its annual report on traffic stops in Illinois. The report stated that over 2.3 million traffic stops were made in the state. About 20 percent of those stops were for equipment issues such as a non-working taillight, window tint that was too dark or the vehicle was in violation of the state’s code. For owners of commercial fleets, an equipment violation could mean thousands of dollars in fines, the necessity of pulling the vehicle … [Read more...]

Filed Under: Transportation Law // Tagged: , , , , , , ,

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