Whether you are buying your forever home, a vacation home or you are downsizing to a smaller home, one section of your purchase agreement will likely contain contingencies. Contingencies benefit buyers in Illinois by permitting them to cancel the purchase agreement if...
Experienced Representation In Business Law, Estate Planning And Tax Law
Godfrey Illinois Law Blog
The QBI and who it will affect in 2021
Small and midsized businesses in Illinois and across the country will still be able to take advantage of key provisions of tax law affecting pass-through income in 2021. Despite the apprehension many may have felt at changes to current tax law to pay for major...
Estate planning for those with ADHD
As readers of this blog know, estate planning is not a quick process because it is about designing how one’s entire accumulated life will be delt with after death. However, this slow and methodical approach is often hard for those with attention deficit hyperactivity...
Have a succession plan in place before you need it
As you established your small business in Illinois and watched it grow into a lucrative enterprise, you may have been focused on the here-and-now. However, the day will eventually come when you want to leave the business, for example, to retire. If so, you will need a...
How to select an executor for your estate
The executor role in the management and administration of an estate is an important one which is why estate planners should know what to take into consideration when deciding on an executor for their estate plan. When estate planning, there are many considerations to...
Questions to ask about when to update your estate plan
As we approach the end of the year, it is helpful to evaluate an estate plan to determine if it is current and meeting the needs of the estate planner. It is also valuable for the estate planner to know what questions to ask when considering the usefulness of their...
How an attorney can help with a home purchase
Buying a home is often one of the largest purchases a Godfrey area resident will make. The home buying process can be complicated, and many buyers don’t understand all the ins and outs. Although just having a realtor can work fine when purchasing a home, bringing in...
The importance of choosing a trustee and type of trust
When embarking on the estate planning process, there are various documents one should consider including. While one is likely to think that a will is the most important document, the reality is that a trust can help provide immense protection for property and assets...
What is a “quiet title” action?
One of the things that makes real estate law so complex is that many parties can have claims on a piece of property. For instance, if a property owner dies and leaves the property to their family, various family members may have a legal interest in the property....
How current estate tax law may change
When we think of taxes, sales or income tax is what usually comes to mind. But capital gains and estate taxes are in the news a lot these days as the current administration seeks ways of paying for top dollar initiatives such as infrastructure, social services and...