Part of protecting your loved ones when you pass away is making sure that you have a proper estate plan in place. Another aspect is making sure that the right amount of money is available to carry out your goals for their futures. Life insurance has helped many people provide for their loved ones in the way they had envisioned. …
Financing is the lifeblood of a business. During good times, business financing can help entrepreneurs purchase assets, expand products and services, add a new location, and hire more staff. During more difficult times, business owners may require financing just to continue their current operations. A business may also be at the start-up phase and require capital to get off the …
As a single individual, you may feel overwhelmed when you think about who will step in and make decisions for you if you cannot make decisions for yourself and who will receive your money and property when you die. You may consider your parents or siblings, but depending on whether they are living and the nature of your relationship, they …
When couples decide to separate, the division of assets frequently is one of the most highly contested issues. Feelings run high, and it’s not unusual for one or both former partners to dig in their heels. Why Mediation is a Better Choice? What’s the best way to end a stalemate over the division of assets in Champaign? Usually, couples that …
Congratulations! You are now considered a legal adult. Aside from purchasing alcohol, there is now very little you cannot legally do. Even though you may not feel any different, from a legal standpoint, a lot has changed. When you were a minor (under the age of 18), your parents were considered your legal guardians and were responsible for making all …
Divorce necessitates frank discussions concerning numerous touchy subjects. It can be difficult for one or both spouses to talk about these things but doing so is essential to make divorce a more constructive process. Negotiations become even tenser when children are involved. For instance, the divorcing couple needs to make critical decisions about the allocation of parental responsibilities, and it …
No matter the time of year, it is always a good opportunity for members of the military and their loved ones to consider setting up — or revising an existing —estate plan. Military families need to consider special estate-planning issues that others do not. This is particularly true when one or more family members are deployed overseas. Beyond this, members …
Hiring your child to work in the family business can be a win-win situation for both you and your child. A child employee offers you tax advantages not available with other employees. There are also potential tax savings for the child employee, who can set aside that money for college or retirement. If you are thinking about hiring your child …
In this episode of Ag Law Today, hear me interview Brian Schaumburg on farm succession planning on this episode of Ag Law Today. Don’t forget to subscribe to Ag Law Today on YouTube so you don’t miss a beat. You can watch this episode or other episodes of Ag Law Today (via Purdue University Extension). More info on Ag …
Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the nuances between a will and trust – and dying without either. Here is what will generally happen if you die, intestate (without …
Getting prepared for divorce mediation in Champaign County is always beneficial. When you are ready for the meeting, things will move smoother, and more issues will be solved. There are several things that you can do to make the mediation process simple and be prepared for your meeting with your divorce mediation lawyer. Write Down Questions If you have issues …
Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected issues can knock you for a loop. You have survived plenty of bumps in the road and emerged stronger than …