If you are building a new commercial facility in Illiniois, you are likely worried about potential issues. Indeed, construction defects can lead to real estate litigation. Construction defects Construction defects can occur at all levels of construction, for improper...
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Godfrey Illinois Law Blog
Can I move my assets into a trust to qualify for Medicaid?
While young and middle-aged estate planners may not care about Medicaid now, unless they have a disease or medical condition that requires hospice or other long-term care. However, for these people and our more elderly clients, planning to qualify for Medicaid is...
What are the most common business lawsuits?
Employee scheduling and supervision, financing, inventory and customer satisfaction are among the issues that complicate running a business and keep owners up at night. Businesses may also face the risk of legal actions and liability. Common reasons Lawsuits are not...
How a buy-sell agreement can save a small business
When individual entrepreneurs join forces to start a new business, their excitement level is usually very high. Sometimes, the excitement can block from view the need to prepare documents that may be crucial to the company’s future. One of these agreements is a...
The trustee can be just as important as the trust
When we plan our estates, we rely on our friends and family to be there for us. We choose them as guardians for our children, executors for our estates and as healthcare proxies to make sure a random medical provider does not make our healthcare decisions. However,...
Shareholder disputes can derail a promising business idea
Closely held businesses such as private corporations and LLCs face a constant uphill battle to grow and profit. Even the best-laid business plans will face challenges in a number of directions. One of the biggest challenges is disagreements among leadership or...
Pass-through entity tax has consequences for partnerships
Recent data from the Internal Revenue Service reveal that limited partnerships provide much of the economic horsepower for the nation. Nearly 4 million partnerships filed taxes in 2019. As a rule, general partnerships function as pass-through entities. Partners report...
What does it mean to be audited by the IRS?
In today’s economy, working gig jobs as an independent contractor or even being the sole proprietor of your own small business is becoming increasingly popular. It can be rewarding to work on your own terms. As a business owner or independent contractor, you have...
People have the right to hold loan firms accountable
Most Illinois residents at some point have probably taken out a loan from a bank or other financial company. Usually, these firms are above board in that the terms of the loan are clear, and a borrower has an opportunity to review and understand them. These loans help...
When can a seller break a real estate contract?
In Illinois, buying and selling a home involves a lot of paperwork. One of the most important documents is your real estate contract. Everyone hopes the sale process will go smoothly; however, as we all know, life is unexpected. If you are selling your home, there are...