While it’s an awful thing to contemplate, it’s wise to consider what kind of medical treatment you would like to receive if you are ever unable to communicate it yourself. Getting a health power of attorney in Illinois is a good precautionary measure to consider. Most people think of a health power of attorney in connection with elderly relatives. Still, …
Business owners typically dislike dealing with the tax reporting, filing, and payment requirements associated with running a business. It can be tedious and require attention to numerous details. For businesses that have made payments to vendors and independent contractors, the type of tax reporting required and the form it should take are often overlooked and confusing. Specifically, it requires understanding …
Not long ago, it was necessary for people to appear in person when signing a will. However, like many things, COVID-19 has changed the way that things are done. This is certainly true in the case of witnessing and notarizing documents related to estate planning. Today, you are far more likely to attend a virtual will signing than you are …
Are you thinking about getting married? If so, then it may be wise to broach the subject of a prenup with your intended. Too many couples make the mistake of overlooking this part of the process. This reluctance may arise from not wanting to bring up what can seem like a divisive topic. Other couples don’t consider it because they …
Business owners agree that people are the lifeline of a company. The people you hire can make or break your business. Yet as an employer, it is essential to recognize that things change. There are instances when you may have to terminate an employee. Developing a severance package is one effective strategy for dealing with exiting employees. A severance package …
When you decide to form a business, one legal entity type you can choose is the corporation. The corporation is one of the more complex but also one of the most trusted legal business forms. A key consideration is the way a corporation is managed: it has an intricate structure, built-in oversight, and a somewhat flexible ownership scheme. Corporate structure …
Have you thought about planning your estate? Life is more uncertain than ever, so it’s wise to be prepared. Consider consulting a Champaign estate planning attorney to get guidance on planning an estate. No one likes to think about the worst happening to themselves or the people they love, but estate planning is a profound act of love. You’ll be …
How can the property and finances be split if a succession plan is Not in place? If you don’t have a plan in writing with a Last Will and Testament, Trust and/or business formation documents (e.g., Operating Agreement or Bylaws) then the law will decide for you. Everybody has an estate plan- it’s what the “default rules” are in your …
When parents get divorced, child custody is one of the most contentious issues. Parenting plans may be established only after many hours of negotiation and several painful compromises. Still, these parenting plans can be quite successful, until something unprecedented occurs. This is the situation that divorced parents across Champaign County are dealing with this year. With cases of COVID-19 on …
Business owners are notorious for engrossing themselves in the day-to-day management and functions of their businesses. As a business owner, you are likely the heart and soul of the company you lead. Your clients love you, and you have built unique relationships with your contractors and suppliers. Suppose, however, that tragedy strikes: You, as the business owner, are in a …
