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About Illinois Business Formation part 3

Search Results for: probate

About Illinois Business Formation part 3

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...]

About Illinois Business Formation part 2

What Are the Advantages of the Illinois Probate Process? Although the probate process can take time, there are several advantages to estate administration in probate court. For instance, when an estate goes to probate, any claims against the estate must be filed within six months of the notification of death. If the estate is not in probate (i.e., if all property is distributed through a trust), creditors have up to two years to file a claim against the estate. Another advantage of the … [Read more...]

About Illinois Business Formation part 1

Frequently Asked Questions about the Illinois Probate Process In most instance, after a person dies in Illinois, the decedent’s estate goes into probate. When Does Probate Apply? In most cases, a decedent’s estate will go into probate after he or she dies. Generally, the formal probate process is necessary in Illinois if: The estate consists of assets that the decedent owned individually (not jointly); andThe value of all estate assets, together, exceeds more than $100,000. Certain … [Read more...]

The advantages of setting up a trust

Many people in Chicago, Illinois, may think creating a will is enough to set their affairs in order. Although a will represents an essential starting point, people with significant assets or complicated circumstances should also consider setting up a trust. A trust is an arrangement that allows one party to hold assets on behalf of beneficiaries. A person who places his or her assets in a trust can protect the value of those assets and control precisely how they are distributed. … [Read more...]

Business Lawyer Chicago, Cook, Lake and DuPage Counties

We help small and medium-sized businesses with transactions and corporate creation, maintenance, annual reports, contracts, leases, asset purchase agreements and buy-sell agreements. Marc J. Blumenthal is a Chicago Business Attorney who finds a way to make a deal work instead of getting in the way of it. His perseverance and attention to detail often clarify what your rights and obligations are, derailing future disputes. Further, Mr. Blumenthal uses his network of professional and business … [Read more...]

Marc J. Blumenthal

Chicago, Illinois native MARC J. BLUMENTHAL has always known he wanted to be a lawyer. Inspired by diverse individuals in the field of law as a youth, Mr. Blumenthal realized he wanted to participate in a profession where he, like the lawyers he admired, would have opportunities to affect positive changes in people’s lives. After studying at the University of Illinois at Champaign, where he received a B.A. in History, Mr. Blumenthal attended the Illinois Institute of Technology Chicago-Kent … [Read more...]

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