Finding out you are not receiving the inheritance you expect when a loved one dies can be upsetting and you may immediately want to argue that the will should not be followed as written. However, you cannot change the terms of someone else’s will just because you do...
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Godfrey Illinois Law Blog
What is a force majeure clause?
The heart of contract litigation is based on predictability and certainty between the parties. Sometimes when events occur that are outside of the parties’ control, they are allowed to invoke their force majeure provision of their contract to relinquish any...
The basics on the federal estate tax for high-asset individuals
Estate taxes will not apply to most estates in Illinois, but for those high-asset individuals with significant wealth, the payment of estate taxes upon death is important. The following is a basic overview of the federal estate tax. The gross estate The gross estate...
What is subordination of an IRS tax lien?
Though it’s never a welcome experience, complications with your taxes do happen. If you fall behind and find yourself unable to pay all of your taxes, the IRS will take steps to collect them. When this occurs, you will have options but they will vary based upon the...
Prepared for a whole range of real estate law needs
Legal issues involving real estate law can be some of the most detail-oriented and complicated issues that Illinois residents might face. Sure, a seemingly run-of-the-mill purchase or lease agreement might appear to be fairly straightforward, for example, but those...
Consider personal liability when starting a business
If you are starting your own business in Illinois, you are probably aware that business owners face many unique challenges that they would not face if they were employees. One challenge may be being held personally liable for debts owed by the business. What is...
Businesses getting paid online should know about tax changes
For many businesses in Godfrey and throughout Illinois, the methods in which they are paid for their goods and services have changed dramatically in recent years. Whereas in the past, people paid using cash, checks or credit cards, the new template includes...
My business is being audited. What happens now?
An IRS audit is one of the most stressful situations you can face as a business owner. You may be concerned that the audit will affect your bottom line or even the viability of your business as a whole. It is important to understand your rights and options when it...
Discretionary termination clause in a lease agreement
Commercial landlords in the Godfrey area often have many issues that confront them on a weekly basis. Many of these issues are addressed in the commercial lease agreement which is why that agreement is so important. The lease is the backbone of a commercial landlord...
Is having a will enough of an estate plan?
As we all know, estate planning can get complicated. This is because a full estate plan covers multiple scenarios, and includes both end-of-life and post-life solutions. This brings many to wonder whether simply having a will is enough. In most cases, it is not....