Farrell, Hamilton & Julian, P.C.

February 2019 Archives

Detailing Illinois' guidelines for intestate succession

Godfrey residents are counseled to create a will early on in their lives. However, even with this advice in place, many fail to see to their estate planning. Indeed, according to information shared by the American Association of Retired Persons, only 4 in 10 American adults have created any type of estate planning instrument. Some may think that if they do not have a will, their heirs will be able to decide how to divide their assets on their own, However, that is not the case. The state sets forth the terms of how one's estate is distributed if they die intestate (without a will). 

Illinois relies on small businesses, treats them poorly

According to Illinois Policy, businesses with less than 50 employees created the vast majority of new jobs in the state of Illinois, accounting for 83 percent of new job growth in 2017. In fact, small businesses, which generated nearly 130,000 new jobs between 2011 and 2017, are the primary reason for the state's recovery from the most recent depression. That is more than 60 percent of all new jobs created in the state. Because of its reliance on small business, one might think that the state would thank mom and pop shops via tax incentives and small business-friendly legislature. Unfortunately, the opposite seems to be happening. 

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