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June, 2014 Archives

A long-term care plan can be an important part of estate planning

Many people in Chicago, Illinois, may view long-term care planning as unnecessary. Unfortunately, these people may be exposing themselves to significant financial risk. The interest group AARP reports 7 out of 10 Americans over age 65 will require long-term care, and 20 percent of people in the same age bracket need care for longer than 5 years. Individuals who consider long-term care plans during estate planning can avoid financial strain and ensure that providing care does not become a … [Read more...]

How to finance commercial real estate

Buying commercial real estate represents a smart investment for many business owners in Chicago, Illinois. However, obtaining financing for these purchases can be difficult, and choosing the wrong form of financing can place a significant burden on owners and their businesses. Business owners should make sure they understand the variables that influence loan offers and the available sources of funding before they begin looking for commercial real estate financing. Factors affecting … [Read more...]

Establishing a power of attorney in Illinois

Many people in Chicago, Illinois, worry about the possibility of becoming incapacitated and incapable of looking after their own affairs. One action that can bring individuals and their families peace of mind is establishing a power of attorney. A power of attorney is a legal document that allows an individual to appoint an agent to make decisions on his or her behalf in the event of incapacitation. … [Read more...]

Which legal structure is right for your business?

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 common … [Read more...]

Regardless of your age, you should have an estate plan

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...]

Proving cargo loss

Shippers in Chicago experience the financial sting of potential loss when their cargo does not arrive at its final destination or if it arrives damaged. State and federal law find that cargo companies are liable for most losses and they must pay to replace the items at full market value, unless the shipper agreed to a lower value for the load before the loss was sustained. In certain instances, however, carriers may claim that the cargo loss was out of their control in an attempt to reduce or … [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...]

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