Tag: Illinois
How Can I Transfer Business Assets to Family Members?
Posted on July 10, 2024
For business owners, the estate planning process involves a variety of complex financial issues related to the assets they own, the transfer of these assets to family members, and the plans that ensure that their businesses will be able to continue operating successfully. If you are a business owner, you should begin making plans for how you want to transfer business assets to family members during your lifetime or after your death. Taking the right steps now is essential for ensuring the continuity and longevity of a family business. Family […]
What Do Business Owners Need to Know About Tax Planning?
Posted on July 10, 2024
Tax planning is a critical component of running a successful business. Business owners need to understand the various types of taxes they need to pay, as well as the strategies that may be used to minimize these taxes. With proper planning, a business owner can navigate local, state, and federal tax obligations, remain compliant with evolving tax laws, and maintain ongoing financial success. An experienced Illinois business law attorney can help develop a comprehensive tax strategy tailored to the unique needs of a business. Types of Taxes Business Owners Need […]
How Can Smart Growth Policies Benefit Real Estate Developers?
Posted on July 3, 2024
Smart growth policies have become a focal point in urban planning, promoting sustainable and efficient development. For real estate developers in Naperville, understanding and leveraging these policies can offer significant advantages. An experienced attorney can provide guidance for developers as they navigate these policies, ensuring that they understand legal concerns related to local laws, state policies, and other issues that may affect development projects. What Are Smart Growth Policies? Smart growth policies are a set of urban planning principles that are meant to promote sustainable and environmentally friendly development. These […]
What Steps Should Beneficiaries Take During Probate Litigation?
Posted on June 20, 2024
When a person passes away, her assets are distributed to her heirs through the probate process. During this process, beneficiaries may become concerned about the proceedings, and may need to take legal action to address certain issues. Sometimes this results in allegations of misconduct by the executor of the estate, or a beneficiary who disputes the validity of a will that was filed in probate court. Probate litigation may be necessary to protect the rights of beneficiaries or address other legal issues. The probate litigation process can be complex, but […]
What Is the Difference Between S-Corporations and C-Corporations?
Posted on June 20, 2024
When starting a business, one of the critical decisions owners or partners will need to make is choosing the appropriate business structure. S-corporations (S-corps) and C-corporations (C-corps) are two common options, and they can each provide certain advantages and disadvantages. An experienced attorney can provide guidance on how to select the structure that is best suited to a business’s needs. S-corps and C-corps both offer limited liability protection, meaning that owners (shareholders) generally cannot be held personally liable for business debts and liabilities. However, these two options differ significantly in […]
How Can Beneficiaries Protect Their Rights During Probate?
Posted on June 12, 2024
The probate process, in which a person’s assets will be distributed to heirs after the person’s death, can be stressful for everyone involved. Complex estates usually involve a variety of legal and financial issues, and beneficiaries who expect to receive an inheritance may need to resolve concerns that arise during the probate process. Understanding your rights as a beneficiary and knowing when to seek legal action is crucial to make sure your loved one’s wishes will be honored while protecting your inheritance. An experienced attorney can help you navigate these […]
How Can Litigation Be Used to Protect Intellectual Property?
Posted on June 12, 2024
Intellectual property (IP) is a critical asset for many businesses, safeguarding the unique creations, inventions, and branding that distinguish a company in the marketplace. When these valuable assets are threatened or misused, litigation can be a powerful tool to protect them. An experienced business law attorney can help business owners determine the best steps to take to protect their rights and resolve disputes effectively. Types of Intellectual Property Business owners may need to take steps to address infringements on their rights when intellectual property is stolen, copied, or otherwise violated. […]
How Can Affordable Housing Laws Affect Real Estate Developers?
Posted on May 28, 2024
Affordable housing laws play a crucial role in shaping residential development projects. These laws aim to ensure that housing is accessible to people of varying income levels, but they can also present challenges and opportunities for developers. Understanding the requirements and navigating the complexities of affordable housing regulations are essential for the successful completion of residential projects. An attorney with experience in real estate law can provide guidance and legal representation for developers, helping them understand their options and ensuring that they meet their legal requirements. Requirements for Developers Real […]
What Role Do Trusts Play in Legacy Planning?
Posted on May 24, 2024
While planning for the future is essential for anyone, it can be especially important for people and families with a high net worth. Legacy planning can ensure that loved ones are taken care of and that a person’s assets will be distributed according to the person’s wishes, while also upholding the person’s values, promoting causes he or she believes in, and establishing a positive framework that a family can continue to follow. Trusts are a powerful tool in legacy planning, providing flexibility, control, and tax benefits that can help a […]
How to Perform Due Diligence During a Business Merger
Posted on May 24, 2024
Merging two businesses is a complex process that requires thorough preparation and analysis. Due diligence is a critical component of any successful business merger. It can ensure that all aspects of the merging entities are evaluated and understood. An experienced attorney can help navigate these legal complexities and facilitate a smooth transition during a business transaction. The due diligence process will address many different aspects of both companies, and it may include: Financial Due Diligence It will be important to conduct a comprehensive review of the financial statements and performance […]
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