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Your out-of-state vacation home can complicate probate
Many families have the goal of one day owning property in another state. Some families dream of a rustic cabin on a lake, while other families desire a vacation home somewhere warm. If you have made your family’s dream a reality, you may have some…
It is important to choose the right legal form for your business
Deciding on the legal structure is one of the most important decisions you will make when starting a business. You will probably decide on the legal structure early in the business formation process. However, your choice will have long-term impacts on the amount of taxes…
Illinois is broke, so be alert to new taxes
As most of my clients that have heard me speak over the last 20 years can attest, I have been known to say, “Illinois is broke, so be alert to new taxes.” One fact I have mentioned on several occasions is that Illinois does not…
Business tax impact and implication
Regardless of the product or service a business provides, all companies share two common concerns: profits and losses. While people form businesses to meet a need, those companies revolve around making money. At a certain point, making money includes minimizing expenditures. In any venture, you…
Staggered distribution is important in high asset estate plans
If you have a large estate and minor children, it’s important to consider how you might control your heirs’ inheritance in case of a tragic event. Staggered distribution trusts are common for young beneficiaries of high-asset estates, because they pay out over time — keeping…
Should you write a business plan?
You may be an entrepreneur considering if you need to write a business plan. It sounds like a great idea. You would think any new business or idea may need a plan to be successful and you would be right. There are many reasons why…
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South Barrington, IL Office
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