Real estate can take on different forms of ownership depending upon the number of parties and the unique circumstances involved. Understanding how your real estate is owned, or “titled,” is necessary because this determines the extent of control you have over your real estate, how susceptible your property is to creditors, and what will happen to it upon your death. …
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their business will be taxed. As an LLC owner, you can be taxed as a sole proprietorship (if you are the LLC’s sole member), a partnership (if your LLC has two …
Do you have dreams of starting a business? If so, then you may not realize how important it is that you choose the right business structure. With the advice of a Champaign business law attorney, you can ensure that you choose the structure that gives you just the right balance of control and protection. For instance, if you prefer to …
Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner (typically called a member) of a limited liability company (LLC) dies, it exacerbates the difficulties for the surviving members. In addition to bearing the loss, they must determine whether the LLC can or even should …