Which Business Entity is Right for You?

There are many things you have to think about when starting a new business—from getting funded to figuring out who to work with. But first, you will need to choose a business structure. There are several options, and each comes with its own set of advantages. So, in order to make sure you’re able to optimize your business to the fullest, review our list below to learn about some of the main options available and Read More

How to Ensure Your Property is Properly Distributed When You Pass Away

Everyone procrastinates. The idea that uncompleted tasks can be taken care of at a later date pervades home and work life. However, one task should not be put off: estate planning. Many people wrongly assume that estate planning is only for the sick or elderly. Not many people think about the end of their life, and if you’re inevitably caught unprepared, your intended beneficiaries could suffer as a result. Read More

Illinois Divorce: 7 Key Facts Every Couple Should Know

If you are considering a divorce in Illinois, you probably have many questions about what happens once your marriage ends. Everything from who gets the house to the visitation schedule for any children are all impacted by Illinois law. Because divorce laws can vary greatly from state to state, it’s important to understand the nuances of Illinois divorce law by exploring the following 7 key facts which every couple Read More

4 Major Differences Between a Will and a Trust You Need to Know

During estate planning, the most common forms of documents are wills and trusts. Although both are beneficial tools, there are 4 major differences between a will and a trust that, depending on your situation, may make one a more attractive option for your family than the other. Before addressing the differences between a will and a trust, here’s a general overview of each type of document and what it does: What Read More

Illinois Parenting Time: The Concept Formerly Known as “Visitation”

Traditionally, after a separation or divorce of parents, a schedule of visitation will be established to ensure that each parent has an opportunity to continue to maintain and grow their individual relationship with the child. The term “visitation,” however, is increasingly being seen in a negative light. As many courts attempt to find a more neutral term, Illinois family courts have replaced the term “visitation” Read More

3 Things a Last Will and Testament Can Accomplish (And 4 Things It Can’t)

A last will and testament, or ‘will’ for short, is a legal document that communicates your wishes regarding how your assets will be distributed after you pass away. Although wills are an essential part of any comprehensive estate plan, it is also important to understand what their limitations are so that you can create alternative arrangements, such as trusts and powers of attorney. Here are three things that your Read More

Illinois Child Support: Understanding the New Income Shares Model

For three decades, Illinois has been calculating child support by using a ‘percentage of income’ formula that applies a set amount of 20% to 50% to the supporting parent’s income. On July 1, 2017, when Public Act 99-0764 comes into effect, it will convert to the ‘Income Shares’ model that is already being used by thirty-nine other states, in addition to Washington D.C., Guam and the Virgin Islands. The Income Read More

When a Will Isn’t Enough: Understanding the Benefits of a Revocable Living Trust

A will, or last will and testament, is an excellent first step in most estate plans. Wills can effectively identify what assets you have, and what you would like to happen to them when you’re gone. For many people, there comes a point when their estate is too large or complex to be properly dealt with by a simple will. When this occurs, a revocable living trust is oftentimes the perfect solution. Revocable trusts Read More