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...
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Godfrey Illinois Law Blog
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...
Tax audits may ramp up in the coming months
Paying taxes is a necessary evil for individuals and businesses in Illinois. The main objective is to ensure that the required amount is paid in state and federal taxes while finding as many strategies as possible to mitigate it. In recent years, corporate tax rates...
How a buy-sell agreement can save a business
Organizing a new business can be an exciting, and no one in the midst of this adventure wants to contemplate any change to a business plan whose completion that probably required several months of dedicated effort. Unfortunately, the future is infamously uncertain,...
Understanding easements
An easement gives a person, organization or government entity an interest in land that is owned by someone else. Easements are used for a specific purpose and allow the easement holder to have a right of way or use property. Types of easements There are three main...
Buying a home and dealing with CC&Rs
Purchasing a home is a major step to take in life. Thus, it is important to understand everything one is getting into before making a large purchase. While the transaction is primarily about obtaining a home, it could also encompass specific rules on how the real...
Understanding the mechanics of a special needs trust
One of the prime reasons for preparing an estate plan is to make adequate provision for the future needs of family members such as housing, health care and clothing. In families where one or more members are disabled and incapable of supporting themselves, a special...
Has your business been harmed by fraudulent misrepresentation?
A lot of small businesses in Illinois and Missouri pride themselves on their hard work and the strength of their word. This means that most of these businesses enter into agreements with the full intent of keeping their promises. But, as you’re probably well aware,...
How does business type influence financing options?
With last year’s historic boom in startups still surging ahead in 2021, many entrepreneurs are looking for ways to attract capital. In order to tap into appropriate financing sources, however, it is wise for the Illinois business owner to be aware that the choice of...