On-the-job injuries are an unfortunate reality for many employers. Every year, millions of employees suffer injuries and illnesses in the workplace. While some industries have a higher risk of harm than others, you can expect to deal with an injured worker at some point, even if your team works from the relative safety of an office. Employers have legal responsibilities …
After a loved one has passed away and the funeral has been held, the task of sorting through their personal belongings begins. While items with sentimental value or family historical importance may have been distributed to beneficiaries in the estate plan, many more might still be lying around the house. The question of what to do with a loved one’s …
There is a lot riding on your small business. You have invested your money, time, and sweat equity to build a company that will be successful for years to come. Even if you make all the right business moves, unexpected costs can arise at any time. Accidents, natural disasters, data breaches, and other unexpected occurrences are an ever-present risk to …
Business owners who are interested in forming a new limited liability company (LLC) or converting their existing business to an LLC are probably familiar with the benefits of this entity type. While the LLC is a great fit for many companies, there are situations in which its disadvantages may outweigh its advantages. Depending on the business and its goals, incorporation …
It has been said that nothing ever dies on the Internet. While this dictum is typically used as a warning that what we put online may come back to haunt us, it is also true that our online accounts can outlive us, and even live in perpetuity. Having a digital estate plan that makes arrangements for what happens to these …
A benefit of working hard is sharing the fruits of your labor with your loved ones. However, gift or estate tax consequences may impact high net worth clients when they share their wealth. By crafting a comprehensive estate plan, we can address these concerns and protect high net worth clients and their loved ones. The following three types of trusts …
Few dates evoke more trepidation among small business owners than tax day. But even after they have filed their tax return, they may not breathe a sigh of relief if they have concerns about getting audited. The April tax deadline is not the only important fiscal date for small businesses. Many people who own businesses must also make estimated tax …
Contracts are the foundation of modern business relationships. Contract law as we know it today originated in English common law, but contracts have been around since ancient times. Many of the earliest examples of contracts in history have the same characteristics—such as offer, acceptance, and consideration—that we currently recognize as elements of a legally binding agreement. Having a better understanding …
A loved one’s passing is challenging on many different levels. In addition to the emotional difficulty of processing someone’s death, there are also the many tasks that must be dealt with, such as going through their various accounts and taking the necessary steps to cancel them or transfer ownership. Most people subscribe to multiple digital subscription services in addition to …
On June 2, 2022, the Illinois legislature repealed a law that previously allowed the State of Illinois to place liens on real estate owned by Medicaid recipients to recover Medicaid benefits paid through the Aid to the Aged, Blind, or Disabled (AABD), Medical Assistance Grant (MAG) and Medical Assistance No Grant (MANG) Medicaid programs. While this does not prevent the …
Adding a payable-on-death (POD) or transfer-on-death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. Like trusts, POD and TOD accounts bypass probate. They are also fast, easy, and usually free to set up. However, they do not provide the full range …
As a business executive, you are used to strategizing and creating goals as part of your job. But have you devoted time to strategizing and creating goals to protect yourself and your loved ones? If not, we are here to help you address some of the goals business executives often have when looking to their future. Protecting Your Hard-Earned Money …