Starting a business from scratch comes with challenges. While many people in Illinois dream of being entrepreneurs, reaching those goals can be difficult. Starting a business requires time, money, and knowledge of the market. Those who wish to start a new business can...
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Godfrey Illinois Law Blog
Updating an estate plan regularly is important
Many people in Illinois are under the assumption that once an estate plan is in place, there is no further action that needs to be taken. This isn’t true, especially for those in a high-asset situation. Estate plans must be kept current and should be updated regularly...
Understanding HOA rights in Illinois
Homeowners’ associations, also known as HOAs, are common in Illinois and around the country. An HOA is in place to protect a planned community by creating and enforcing rules based on desired standards. When one moves to a community with an HOA, one should be aware of...
Mediation skills can resolve real estate disputes
If you’re an Illinois landlord, tenant or Homeowners Association (HOA) board member, you may encounter legal challenges that are difficult to resolve as you carry out the duties and obligations of your position. It’s not uncommon for disagreements to occur. For...
Preparing for an audit as a small business owner
As a small business owner in Illinois, one should attempt to always be prepared for an audit from the IRS. Audits can be stressful, but the process is much easier when paperwork is organized and easily accessible. It’s also helpful for small business owners to...
Legal tips for the first-time entrepreneur
There are many people with an entrepreneurial spirit who want to branch out on their own to start a new business. Being an entrepreneur can be very rewarding, but it also requires a lot of hard work. Illinois is home to many people who’ve had success in creating their...
Tips for those new to real estate investment
Investing in real estate can be lucrative for those in Illinois who are looking to expand their portfolio. But choosing the right real estate investments comes with a unique set of challenges when compared to other types of investments. Anyone who is interested in...
It’s never too early to start estate planning
Death can be a taboo subject and one that many people don’t want to think about. But estate planning is essential for those in Illinois who want to protect their assets after death. A thorough estate plan details exactly how one’s assets are to be divided after one’s...
How trusts can make your estate plan more complete
There are a lot of misconceptions about the estate planning process. Among them is that it’s straightforward, requiring nothing more than a simple will that specifies how your assets will be distributed once you pass away. Sure, a will can play a pivotal role in your...
Planning your business model
Opening a business in Illinois is a complex process that involves many different steps. One of these steps is creating a business model. You have probably heard the term “business model” but may wonder exactly what it means. A business model is a plan for how your...