The Gierach Law Firm

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If you are an entrepreneur, you are considering building your own startup, or you would like to change your business’s structure, you should know the options available to you. There are a number of different business structures from which you can choose, but they may not all be the right fit. You should select your business entity after looking at the size of your business, the number of owners and partners, the goals for your company, and what you want your future to look like. While it is important to do your own research, it is always best to discuss…
Continue Reading Which Business Entity Is Best for My Illinois Company?

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The legal practice area known as “estate planning” is an umbrella term to cover what you want to have happen upon your death. The paperwork that outlines your wishes can include a number of tools, such as paperwork designating who receives what, information on which medical treatments you do or do not want to be performed, and naming someone to be in charge of the asset distribution process. Some clients choose to utilize all of these estate planning tools, while others may rely on one to have their wishes followed. Regardless of the number of estate planning options used,…
Continue Reading How Does Getting Remarried Affect My Estate Planning?

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There is often the false assumption that landlords are unreasonable and unforgiving, kicking their tenants out at the first sign of a late rent payment. These businessmen and businesswomen get a bad rap for taking legal action against their tenants, yet many forget that landlords are dependent upon their tenants’ rent money to make ends meet. This is an evident issue going on throughout Illinois since COVID-19 first made its mark. Since society essentially shut down for the past few months, many people were left unemployed and unable to pay their rent, including businesses. To avoid thousands of Illinois residents…
Continue Reading Can I Evict a Commercial Tenant Who Fails to Pay Rent in Illinois?

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Mom-and-pop stores and restaurants have been the foundation of the United States since the country’s origin. Many Americans pride themselves on their work and ability to support their families, with additional fulfillment given to those who do this by running their own business. In the best-case scenarios, family businesses will be passed down from generation to generation. While it may seem straightforward to hand your business off to one of your children, you should still have a plan set in place so that things transition smoothly and your business remains intact. This is known as a business succession plan,…
Continue Reading Does My Family Business Need a Succession Plan?

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The creation of a will can be one of the most important legal decisions you will ever make; however, many people put this critical document on the backburner. Life circumstances can get in the way, as your first job may quickly lead you to marriage and children, and before you know it, your kids are off to college. Legal professionals always advise people to formulate their will early in life, continuing to edit the details as life changes. This is especially pertinent during these tumultuous times as COVID-19 runs rampant, with younger generations losing their lives unexpectedly. As the home…
Continue Reading What Happens If I Die Without a Will in Illinois?

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When starting up a company in Illinois, you will research various formation options available under state law and do your research to find the right fit for your business. Many in your position lean towards a corporation because of the benefits it offers, both for owners and the entity. However, you may not realize that there are distinct types of corporations that can provide additional advantages from a federal income tax standpoint. One is the S Corporation, often referred to as a “flow-through” entity for how profits and losses are distributed among owners.
It is essential to get your business…
Continue Reading Reasons to Form an Illinois S Corporation

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Many people die with some debt, whether it is credit card debt or unpaid utility bills. The executor is tasked with paying valid claims that have been submitted in a timely manner. When the estate has cash in it, then it is relatively easy for the executor to pay the claims.
Problems can arise, however, when there is not enough cash in the estate to cover all debts. In this situation, the executor will need to sell estate assets, but these sales can anger beneficiaries who were expecting to inherit the asset that is sold.
If you are serving as…
Continue Reading Selling Estate Assets to Pay Claims

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Because every business is unique, every deal involving a purchase or sale will bear numerous, distinct details that need to be addressed from a structuring point of view. Still, there are just three basic options for buying or selling a business: Stock purchase, asset acquisition, or a merger of the companies. The Illinois Business Corporation Act contains many provisions regarding the requirements, but there is little information on why you would choose one alternative over another.
You can trust an Illinois business law attorney to handle the details since negotiations can be challenging and you will need to account for…
Continue Reading Options when Buying or Selling a Business in Illinois

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Under Illinois law, the executor must file a decedent’s will with the probate court and, within 30 days, institute a proceeding to have the will admitted to probate. Ideally, the testator would have told relatives where his or her will was being stored while living. Unfortunately, this is not always the case. Instead, nobody might know where a will was stored—or if one was even created.
As experienced probate attorneys, The Gierach Law Firm has helped many family members search for wills. Below, we offer our tips for the best places to look.
Check Filing Cabinets
Look wherever the testator…
Continue Reading How to Find a Loved One’s Will

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Illinois business owners know the importance of retaining a lawyer for formation and start-up, as well as drafting and reviewing contracts. Not as many realize how critical it is to have access to general counsel on a regular basis. Some stakeholders may only reach out to an attorney after an issue has emerged, at which point they need to develop a relationship very quickly and get that person up to speed regarding the organization.
While it is not practical for all companies to have an in-house legal department, there are numerous benefits for working with an Illinois business lawyer who…
Continue Reading Four Reasons Your Illinois Business Needs General Counsel Services

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If you own a business that relies on customers coming into your building—such as a bar, restaurant, retail establishment, or even professional practice with a waiting area—you probably have music playing at least sometimes. Maybe you have a radio that plays a particular local station for background music, or perhaps you use a streaming service like Spotify or Pandora to match the preferences of your customers more directly. If your business is a bar or a nightclub, your entertainment lineup might include live cover bands and karaoke.
Copyright laws in the United States generally apply to the public performance of…
Continue Reading What You Need to Know About Licensing Music for Your Business

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If you are like most employers, firing an employee is an experience you would like to avoid at all costs. Termination can be challenging not only on a personal level but on a professional level as well. If the proper steps are not taken to justify an employee’s termination, he or she could potentially bring a successful wrongful termination lawsuit against you. As a result of the claim, you may suffer irreparable harm to your business’s reputation and be required to pay expensive damages. The best way to ensure that you are in compliance with federal and state law…
Continue Reading 3 Things You Should Remember When Terminating an Employee

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If you are a business owner, employee concerns may take up a great deal of your time. One employee issue that has made many headlines in the past several years is sexual harassment. Sexual harassment is a type of employment discrimination protected by Title VII of the Civil Rights Act of 1964. If an employee reports sexual harassment and an employer does not properly address the problem, the employer can be liable for damages to the employee and may subject to other negative consequences. Now that more and more people are working from home, it may seem as if…
Continue Reading Preventing Sexual Harassment Is Crucial Even When Employees Are Working From Home

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Being the executor of someone’s estate is a serious responsibility. If someone has appointed you as their executor, you may be a bit overwhelmed and unsure of what the role actually involves. An executor is a trusted individual that is appointed to “tie up loose ends” after a person passes away. Whether you have been appointed as someone else’s executor or you want to learn more about choosing an executor in your estate plans, an experienced estate planning attorney can help.
Duties of an Executor
If a friend or family member has chosen you to be the executor of…
Continue Reading What Is an Executor of an Estate Responsible for Doing?

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Some people knew that they wanted to one day own a business when they were in elementary school. For others, the dream of business ownership came later in life. Buying a franchise is a great way to become a business owner while still benefiting from the guidance and leadership of a franchisor. Franchise owners have the huge advantage of buying into an existing business model and receiving ongoing assistance from the parent company. However, success is not guaranteed. It is essential that anyone thinking about purchasing a franchise do their proper due diligence. Without thoroughly researching your options, you may…
Continue Reading Why Is Due Diligence Important When Deciding to Become a Franchise Owner?

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If you are an entrepreneur interested in starting a business, your mind is probably racing with ideas and possibilities. One of the most important things you can do to start your business off on the right foot is to create a detailed business plan. As the old saying goes, “Failing to plan is planning to fail.” This statement is especially true in the business world. Approximately 80 percent of new businesses fail within their first year and a half. In order to give yourself the best chances possible of success, ensure that your business plan is realistic, thorough, and…
Continue Reading 3 Tips for Writing a High-Quality Business Plan