Author: Linsi Tuttle
At What Age Do You Need a Will?
Posted on February 7, 2023
No one likes to think about death, especially when you are young. However, it is important to make sure that your wishes for your estate will be honored if something happens to you at any age. Many people assume that only very wealthy individuals or those in their 60s or 70s need to create a will. However, there is no fixed age at which everyone needs a will. Whether you are single, childless, own little property, or are married with kids, proper estate planning is crucial. Why You Should Create […]
Contested Probate and How It May Affect You
Posted on January 31, 2023
Contested probate refers to a legal dispute involving a deceased person’s will. When someone passes away, their surviving family members or other heirs may challenge the validity of their will in court. The dispute may involve allegations of forgery, lack of testamentary capacity, fraud, undue influence, or other issues. Individuals may also contest the will because they disagree about who should benefit from the deceased person’s estate and how assets should be divided. Common Reasons that Surviving Loved Ones Contest a Will Wills are used to describe how assets should […]
Essential Questions Regarding Safety Deposit Boxes and a Loved One’s Death
Posted on January 26, 2023
Safety deposit boxes are used to store important items such as jewelry, legal documents, family heirlooms, and more. Items stored in a safety deposit box often have significant financial and sentimental value. When a person passes away, there may be many questions regarding safety deposit boxes. What happens to a safety deposit box if it is not listed in the decedent’s will? Who receives the items in the safety deposit box? What if a recently deceased relative has a safety deposit box that no one knows about? Is there a […]
Are You at Personal Risk if Your Business is Sued?
Posted on January 24, 2023
The risks of being a small business owner are often thought of in terms of the business itself, but what about the personal risks? If your business is sued, are you at risk of losing your personal assets? It is a question that many small business owners do not think about until it is too late. The short answer to this question is yes, you are potentially at risk of losing your personal assets if your business is sued. Depending on how your business is structured, a lawsuit could put […]
How to Dissolve a Business Partnership in Illinois
Posted on January 19, 2023
Business partnerships consisting of two or more individuals or entities are a great way to access a wider range of knowledge, increase profits, and expand market reach. However, there may come a time when the partnership ends. Whatever the reason for the termination of the partnership, dissolving a business partnership in Illinois can be challenging. However, with proper planning and execution, it can be done relatively quickly and efficiently. What to Do If You Want to End Your Business Partnership When a partnership is no longer serving the best interests […]
What You Need to Know About Joint Trusts
Posted on January 17, 2023
There are seemingly countless estate planning instruments to choose from when creating your estate plans, and each has its own unique advantages. Trusts offer many benefits when compared to transferring assets through a will. Unlike property transferred through a will, assets transferred through a trust usually avoid probate. Furthermore, the trust maker, or grantor, enjoys greater control over how and when trust assets are distributed to heirs. There are many different types of trusts to consider when building your estate plans. In this blog post, we will discuss the basics […]
Does Your Business Require A Physical Address?
Posted on January 12, 2023
Our world is becoming increasingly digitalized, and the pandemic has only accelerated this trend. Businesses now have the opportunity to operate virtually, without the need for a physical address. Many entrepreneurs and business owners wonder whether a storefront is needed for a successful business. Can a business operate with a PO box or virtual address? Can a small business use a home address as a business address? Does lacking a physical address have any legal implications? These are important questions, and anyone interested in starting a business should take the […]
How Do You Set Up a Trust For Your Grandchildren?
Posted on January 10, 2023
One of the greatest joys of being a grandparent is leaving a legacy for your grandchildren. Establishing a trust is one way to ensure that your grandchildren will benefit from the fruits of your labor even after you are gone. There are many different types of trusts to choose from and the type of trust you utilize will depend on your personal and financial objectives, your financial circumstances, and the type of assets you want to transfer to your grandchildren. When transferring wealth to children, grandchildren, or other loved ones, […]
Prioritize your Business Goals for The New Year
Posted on January 5, 2023
When planning for the New Year, small and mid-sized businesses should carefully consider their strategies for 2023 in order to ensure they are prioritizing their goals effectively. It is important to keep an eye on trends that may affect the industry, including advances in technology, shifts in customer preferences and demands, and changes to regulations or policies. Businesses should also take into account their current resources and budget, as well as any changes in the market that may impact their operations. Additionally, it is important to assess the business’s performance […]
Is Your Business Prepared for the New Year?
Posted on December 15, 2022
For business owners and leaders, the new year represents an opportunity to evaluate successes and failures in the past year and make plans to improve operations in the coming months. Year-end business reviews help a company celebrate wins and reflect on losses. By analyzing current performance, business owners can determine areas of strength, as well as potential improvements that need to be made. It can also help when setting goals for growth and profitability in the new year. Having a clear plan for the upcoming year is important to ensure […]
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