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Use of Powers of Attorney for Your Children Who Are Over 18

When your children go to college, they are generally at least 18 years of age. In Illinois, they are considered to be adults at that time. This means that you, as their parents, are not legally entitled to their school information which includes grades (despite the fact that you are footing the bill for the [...]
When Should Owners Develop An Exit Strategy?

Many times an owner of a business, particularly a family owned business, will question when they should develop an exit strategy from that business. It may sound counterintuitive, but the time to develop the exit strategy is when you acquire or go into the business, not at a later point in time when you have [...]
For the Love of the Land

Sometimes a person owns some acreage that they may have either purchased or inherited. This acreage is really special, as it is beautiful, natural or untouched. If you are that person, you may want to preserve its beauty and make sure that it does not just become another subdivision. What step can you take now [...]

Property Tax Exemption Crackdown Law Sought by Cook County Leaders

Under current Illinois property tax laws, homeowners can claim a homestead exemption on their primary residences in order to reduce their property taxes. Unfortunately, WGN Radio reports that many homeowners abuse this exemption by also claiming it on vacation homes, rentals, and second homes. Lawmakers are supporting legislation that would give local authorities power to [...]
Chicago Judge Rules in Favor of Motorola on Apple’s Patent Infringement Claim

The Chicago Tribune reports that federal court Judge Richard A. Posner has ruled on one of several patent infringement claims brought by Apple Inc. in favor of Motorola Mobility Holdings Inc. In this particular claim, Apple alleged that six applications used by Motorola on its devices infringed its patent on touch-screen finger-tap functionality, which has [...]
Naperville Business Owners Should Carefully Consider Non-Compete Agreements

Non-compete agreements, officially called “covenants not to compete,” and also known as “non-competes,” are a tool used by employers to restrict what a former employee can do – most commonly who they can work for. This is done in an effort to prevent department employees from immediately going to work for a competitor, essentially using [...]