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Understanding Corporate Management: Who Is Really in Charge?
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 …
Champaign Estate Planning Attorney Explains What Documents You Will Need
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 …
Ask Cari: Q & A on Farm/Ranch Estate and Succession Plan
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 …
The Impact of COVID-19 on Parenting Plans in Champaign County
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 …
Five Reasons Business Owners Need Estate Plans
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 …
Five Considerations Before You Use a Payment Demand Letter
As a business owner, it is almost guaranteed that you will encounter some variation of the following scenario: You engaged a client and completed fantastic work. The products the client desired were delivered on time with practically no issues. To request the money the client agreed to pay you, you send an invoice or a bill. Unfortunately, your invoice is …
How to Get a Domestic Violence Order of Protection in Shelby County
Many people who have suffered domestic abuse look to the Shelby County courts to help them. Frequently, this consists of filing a restraining order, which often is called an order of protection. What Is an Order of Protection? These orders may be available to people who have suffered physical abuse, harassment, intimidation, interference with personal liberty, or willful deprivation at …
Why You Need an Employer Identification Number
There are many essential tasks to complete if you are thinking of forming a new business. An important but often overlooked step is obtaining an Employer Identification Number (EIN). An EIN is a nine-digit federal tax identification number obtained from the Internal Revenue Service (IRS). It uniquely identifies a business entity and serves many purposes for a new company. The …
How to Best Prepare for Your Zoom Court Hearing in Shelby County
Since the COVID-19 pandemic began, courts have been looking for ways to cope. One of the ways that they are coping is through virtual hearings. While these hearings may be conducted by telephone, most of them are held via Zoom or a similar web-based service. This enables the judge, the parties, and their attorneys to see and hear each other …
Considerations for Forming a Limited Liability Company for Real Estate
For individuals who own real estate, it is important to consider the best way to structure your ownership. When you are just starting out as an investor in real estate, you may hold title to the real estate personally, but that may not be the most advantageous method of ownership. Another option is to create a limited liability company (LLC) …