If you have a special relationship with an elderly aunt, you undoubtedly want to respect her wishes. By creating a comprehensive will, your aunt both decided what happens to her assets after her death and avoided intestacy protocols. Still, if someone exerted undue...
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Godfrey Illinois Law Blog
Are you in a blended family? Estate plan carefully
If you want to preserve your wealth and ensure that it passes to your loved ones in a way that you see fit, then you need a detailed and holistic estate plan. That might sound easy enough, but a lot of people think that they can forego estate planning if they just...
Avoid these problems with investment properties
Low interest rates may usher one of the most lucrative markets for investment properties this spring. There may be excellent opportunities to add to a real estate portfolio or even making a first-time purchase of an investment property. But you should be aware of...
Strife in a small business can lead to complicated litigation
Most businesses are privately owned, meaning they are not traded on one of the public stock exchanges. Many of these businesses are organized as privately held corporations or as limited liability companies, or LLCs. When affairs are operating as intended, the...
Compensatory damages in breach of contract claims
Businesses in Illinois enter into contracts every day with the expectation that each side will hold up to their end of the deal. Contracts form the backbone of many business dealings, but things do not always run smoothly and sometimes a party ends up breaching the...
What happens if the IRS audits you?
Individual taxpayers and business owners may feel anxious or fearful after receiving an IRS audit notice. However, preparing for an audit can help streamline this process and help you fulfill IRS requirements. Take these steps if you have learned that the IRS plans to...
Estate planning tasks to do now, while one is still healthy
Let’s face it, estate planning right now is a hot topic. It is just a sign of the times we live in. But, there are some estate planning tasks that everyone should do now, while they are healthy. Think about and document one’s health care wishes When people begin the...
What are my options when forming a business?
New business owners may feel overwhelmed by the number of decisions they have to make when forming a business. They may wonder what their options are when forming a business. Business formation should not be a decision new business owners worry about if they are armed...
What is a quiet title action?
Acquiring property is a momentous occasion in a person’s life. A car, a house, a vacation home – these are true measures of our hard work. However, nothing dampens the mood like finding out other people may also have an ownership stake in the property. For those in...
A living trust is a useful estate planning option
Estate planning can sometimes seem overwhelming, but it doesn’t have to be. A living trust is an estate planning option that may be worth considering. It goes into effect while the person who creates it is living and it can be revoked. The person who creates the trust...