The war for talent is heating up. A record number of workers have quit their jobs this year, creating a massive problem for employers. While higher pay can help get new workers in the door of your business, wages alone may not be enough to keep them there. Employers are getting creative in finding ways to attract—and retain—great employees. In …
Many livestock producers (like myself) sell meat directly to consumers. One common method used by livestock producers is selling a whole head, half a head or a quarter head of beef, pork, goat meat, lamb, etc. directly to the consumer for custom processing. I recently drafted a custom processing agreement for myself and this type of agreement can be useful …
Is it too late for a prenup if I’m already married? In Illinois, prenups become effective on the day that you and your betrothed are legally married. If you’re past that point, a prenuptial agreement is no longer a valid option. That does not mean it is too late for you and your spouse to protect yourselves and your respective …
Exposure to lawsuits involving injury and loss claims is among the biggest risks that businesses face. Although liability waivers are most commonly used by businesses that offer inherently dangerous activities, such as ski resorts, amusement parks, and gyms, they can be used whenever a business seeks to limit the claims or damages that a visitor could pursue against it in …
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order. Key Takeaways You can …
A well-crafted estate plan is comprised of many individual parts, and careful, trust-based estate planning is the best way to ensure the highest possible quality of life for you and your loved ones. One way couples can make get the most mileage out of their estate plans is through community property trusts. This is a special type of trust that …
An equity purchase agreement, also known as a share purchase agreement or stock purchase agreement, is a contract that transfers shares of a company from a seller to a buyer. Equity purchases can be used to acquire a business in whole or in part. They are frequently contrasted with asset purchases, which achieve similar objectives but have a different deal …
You have invested a lot of time and money in developing your employee, customer, and vendor relationships. You cannot stop your employees from walking out the door, but you may be able to limit their ability to take other employees and business relationships with them. Nonsolicitation agreements are contractual provisions that restrict an employee’s ability to poach your customers or …
Estate planning is not just about what happens when you die. Proper estate planning takes into consideration all aspects of your life and how to protect your accounts and property so that you can receive the maximum use and enjoyment during your life as well as protect whatever you choose to leave to your loved ones upon your death. A …
Tax day is one of the most important—and one of the most dreaded—days on the calendar for working Americans. Although April 15 is usually the date that federal taxes are due, the Internal Revenue Service (IRS) extended the tax deadline in 2019 and 2020 due to the COVID-19 pandemic. During this time, you may have picked up a side gig …
When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate. Instead, a …
When you create a living trust, you must name a successor trustee to take over for you if you are unable to act due to incapacity or death. It is crucial that this decision be given careful consideration and that the right person be selected for the job. Role of Successor Trustee If you become unable to manage your financial …