Are you an Illinois resident working on your estate plan? If so, it is important to pick your executor. This person plays a pivotal role in how things proceed after your passing. They handle matters of your estate and deal with your loved ones one-on-one. Because of...
What makes succession planning effective?
Starting a business with your spouse in Illinois can be a rewarding adventure, no doubt. Going through the ups and downs of learning to manage an organization, strategizing together and enjoying the success of your hard work can provide immense satisfaction. However,...
Should I choose a family member as my business successor?
Planning who will take over your business after you retire, step down or pass away is an important task to take care of while you still can. Some business owners start their companies as family operations, and they intend for a son or daughter to take over the...
What should you do with your family business when you divorce?
If a family business constitutes a major portion of your marital property, Illinois law requires you to divide it between you and your spouse in a fair and equitable manner when you divorce. But how do you do this? Forbes advises that you have three basic choices as...
How does Illinois divide property during a divorce?
The divorce process may seem overwhelming. Whether you filed for the divorce or your spouse, it may still take a significant toll on your emotional as well as financial wellbeing. One of the most significant aspects of a divorce is dividing property. The term may make...
