Author Archives: Site Administrator
What’s the Best Business Structure for my Company?
A Hoffman Estates Attorney Discusses Restructuring When you initially started your business, you chose to incorporate a certain way based on your needs at the time and the future you saw for the company. Some years have passed, and now you may find yourself interested in adjusting your personal liability or simply needing to… Read More »
Are Non-Compete Agreements Legal in Illinois?
A Hoffman Estates Attorney Explains Though non-compete agreements have been in use for decades, within the past two years they have come under particular scrutiny in Illinois due to the ruling given in Reliable Fire Equip. Co. v. Arredondo (2011 IL 111871). As a result, there have been significant changes in the laws governing… Read More »
Our Hoffman Estates Lawyers Discuss the Importance of Business Succession Planning
Business succession planning is an important part of running a business, especially for small business owners. A business succession plan addresses future “what if” scenarios, such as owner illness, death or retirement. Without a comprehensive succession plan, small businesses run the risk of spiraling into failure when one of these “what if” scenarios comes… Read More »
Starting a Nonprofit Organization: Our Hoffman Estates Attorneys Explain the Steps Involved
Nonprofit organizations that engage in charitable, religious, educational, literary or scientific endeavors, as well as organizations that perform tests for public safety, work to prevent child or animal cruelty, or foster amateur sports competition, do not have to pay taxes on income derived from activities related to the organization’s objectives, as these activities benefit… Read More »
Avoiding Wage and Hour Disputes: Our Hoffman Estates Lawyers Discuss the Fair Labor Standards Act
Employers must compensate employees according to state and federal employment laws. Under the Fair Labor Standards Act, most employees are entitled to overtime pay equivalent to one and a half times their normal rate of pay for all hours worked above a regular 40-hour workweek. The FLSA also establishes a minimum wage of $7.25… Read More »
Our Des Plaines Estate Planning Attorneys Discuss Education Trusts
If you have children or grandchildren, you may be worried about the rising costs of postsecondary education. You may want to provide for their college education in advance. That is where an education trust comes in. An education trust allows parents or grandparents to set aside funds for their children or grandchildren to use… Read More »
Why You Need a Hoffman Estates Probate Attorney
When a person dies in Illinois, his or her estate may need to go through probate, a court-managed process of settling the estate. If the decedent left a will, the probate court will validate it and distribute the estate according to the terms of the will. If the decedent died without a will, or… Read More »
Do I Need a Medical Power of Attorney?
A medical power of attorney gives another person the ability to make healthcare decisions on your behalf should you become unable to do so. It is important to understand that a medical power of attorney differs from a living will. A living will contains decisions you make for yourself in advance, such as not… Read More »
Should I Have a Property Power of Attorney?
A property power of attorney grants another person the authority to make decisions concerning your financial affairs and assets if you become physically or mentally incapacitated. Having a property power of attorney is a good idea for just about anybody with income and personal or real property, as the unexpected can strike at anytime,… Read More »
Buying a Commercial Property
For many business owners, deciding whether to lease or buy commercial space is tough. It can be an especially difficult decision for small to mid-size businesses. Buying a commercial property has many potential benefits, including: Greater control over real estate overhead — no more rising rents Tax write offs, such as interest paid on… Read More »