Nowadays, most of us have tons of valuable digital assets – from social media accounts to cryptocurrency wallets. Making sure these all get adequately handled after you are gone takes some planning. Working with an Illinois lawyer to include digital assets in your estate plan is wise to ensure it is all legally done right.
Why Digital Assets Matter
Digital assets can have financial and sentimental value, so they are important to address in your estate plan. Online accounts, photos, videos, and domain names are valuable and should be managed carefully. Leaving behind an unfinished online presence can also complicate…
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Dealing with property disputes can be a complex process. With the right help by your side, you can work to resolve these issues and protect your interests. An Illinois lawyer can help you with property disputes so you do not feel overwhelmed. There are a few things that you should know to make sure you are handling your dispute correctly.
Reviewing Relevant Documents
An important part of resolving property disputes involves reviewing relevant documents such as deeds, property surveys, plats, titles, easements, covenants, and prior contracts. These records often contain pivotal details regarding intended property boundaries, easements, ownership interests, rights…
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When transferring a property title, even small mistakes can cause major legal and financial headaches down the road. Here are some of the most common Illinois real estate transfer mistakes to avoid under Illinois law and how a lawyer can help.
Signing Before Final Walkthrough
Do not sign final closing documents until completing a final property walkthrough to ensure no changes or new damage has occurred. It is tempting to sign closing papers early to get one step closer to moving in, but this risks major unnoticed problems. 
Sellers could cover up or fail to disclose issues like roof leaks,…
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One of the most popular estate planning tools that are available is a trust. There are a number of different types of trusts that can be utilized, depending on what your needs are. Many of the clients who meet with our Illinois estate planning attorneys are often surprised at the number of assets that can be protected by placing them in a trust. The following touches on some of the benefits a trust offers. Contact our office for more detailed information.
What Is a Trust?
A trust is a legal instrument that protects assets from various risks that could ultimately…
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One of the most crucial decisions parents will need to make is choosing who will be their child’s legal guardian in the event they are unable to care for their child because of illness, incapacity, death, or other unexpected circumstances. The person they choose will need to step in to provide the love, support, and guidance that every child needs.
When deciding who this person should be, the following are some of the factors that parents should consider.
Shared Values and Beliefs
When choosing a legal guardian for your child, you want to make sure it is someone who shares…
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There are many estate planning tools available that will ensure your family is protected when you are no longer here. One of those tools is called a pour-over will. A pour-over will is a type of will that works in alliance with a revocable trust (also referred to as a living trust). The purpose of a pour-over will is to make sure that any assets that the decedent did not get the opportunity to place in the trust before they die are transferred into the trust upon their death.
Integration with a Revocable Trust
A pour-over will is designed…
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Business formations refer to the legal structures that entrepreneurs can choose when starting a business. These structures determine issues such as liability, taxation, ownership, and decision-making processes. The following is a brief overview of the four most common types of business structures. For more detailed information, contact [[title]].
Sole Proprietorship
A sole proprietorship is the simplest and most common type of business formation. In this structure, a single individual owns and operates the business. It offers ease of setup and allows the owner to have complete control over decision-making. However, the owner is personally liable for the business’s debts and…
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There are multiple estate planning tools available that can help ensure your family is protected when you are no longer here. One of the most common instruments used is trusts. Trusts allow individuals to transfer assets to their beneficiaries while avoiding probate and minimizing tax liabilities. There are several different types of trusts available, each with its own unique benefits and limitations. The following is a brief overview. For more detailed information, call our office to speak with a seasoned estate planning attorney.
Revocable Trust
A revocable trust, also known as a living trust, is a trust that can…
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A business partnership allows a company to benefit from the skills, experience, and unique perspectives of multiple people. Partnering with another person also allows you to share expenses and job responsibilities, promoting a healthier work-life balance.
However, partnerships are not without risk – especially if you do not have a solid partnership agreement in place. To give your company the best chances of long-term success and reduce the risk of conflict, make sure you have a well-written partnership agreement that includes details about decision-making authority, profits and distribution, ownership percentages, and how the partnership can be modified or dissolved.
Ownership…
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