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...
Experienced Representation In Business Law, Estate Planning And Tax Law
Godfrey Illinois Law Blog
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...
Reviewing an estate plan is crucial to optimize effectiveness
Estate planning is a time-consuming process for many people in Illinois who carefully analyze several areas of their life to identify where clarifications need to be made that will allow their surviving family members to know how to distribute their estate. Decisions...
What terms should you be aware of in a real estate contract?
You are preparing to buy a property in Illinois and are anticipating signing a contract reasonably soon. Now, you are wondering if there are specific terms that you should better understand before you sit down with the contract in front of you. Familiarizing yourself...
Illinois leads the pack for veteran entrepreneurship incentives
Though Illinois ranks as the least friendly state to start or operate a small business, it ranks in the top 10 for most veteran entrepreneur-friendly states. According to the State of Illinois Department of Veteran Affairs, the state has 89,110 veteran-owned...
Do I need a succession plan for my family’s business?
Every family business should have a succession plan to help create business stability and prevent family infighting in times of change. Succession planning can foster a smooth leadership transition for the time you choose to retire from your business or are forced to...
The basics of trusts
People in Illinois who think about estate planning might automatically think about a will or a trust. However, they may not be aware of how a trust works or that there are many different types of trusts. A person's assets and wishes can help direct them to select the...
What is a payable on death account?
One of the easiest ways to avoid probate in Illinois is to not leave behind anything that needs to go through that process. Essentially, this means having all your assets set up to automatically transfer to another person upon your death. Many people use trusts or...
Developing your small business through effective marketing
If you have recently launched your small business in Illinois, you may be well aware that maintaining any sort of company at all requires you to dedicate consistent time, effort and resources to achieve your initiatives and attain success. At Farrell, Hamilton &...
Estate planning and your beneficiaries
Setting up an estate plan can be a daunting task for all sorts of reasons. Some people, for example, may be unsure of which type of estate plan to choose. A trust may be ideal for some people (and there are various types of trusts, too), while a will may work out...