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A professional limited liability company is a specialized type of limited liability company that is meant for licensed professionals, such as dentists, chiropractors, physicians, accounters, architects, etc. PLLCs exists because many states do not allow LLCs to be formed by professionals whose work requires a license. In this article, we discuss the difference between a PLLC and an LLC, forming a PLLC, and what to do after forming your PLLC.…
Never has the phrase “no time like the present” been more true than right now. For many, estate planning is something you do so that when you’ve reached your golden years you can rest easy knowing your assets will be handled properly after you pass on. None of us wants to think of the “plan” in estate planning as something that will come to fruition in the next few months. But we can’t ignore what’s going on around us, especially those in the high-risk categories including the elderly and those with multiple comorbidities. Please know, this is not a medical…
As the number of individuals testing positive for the Novel Coronavirus increases in the United States, and with it the public’s uncertainty of what will happen next, the economic fallout has led many to wonder how they will pay their bills or if they’ll have a roof over their heads in the coming months. In response to these concerns and the growing number of people filing for unemployment, the administration announced steps to stabilize the housing market, protect homeowners, and keep those facing eviction in their current dwellings until the outbreak is under control. Mortgage Freeze The Department of Housing…
Owning a business comes with inherent risk. Adding employees and hiring independent contractors is great as it means your business is growing, however, each new employee is a potential source of conflict. While having a thorough hiring process will weed out any bad apples, a detailed contract, including a non-compete clause, will ensure trust, transparency, and protection for both the business and the employee.…
In this article, we’ll answer questions like: “Is it safe for my child to travel between households during the Covid-19 outbreak?”  “What should I do if I’m concerned my child might get Covid-19 at her other parent’s house?” “Can I petition to have my child stay at my house until the risk of Covid-19 has decreased” “What happens if we both get sick with Covid-19 and can’t care for our child?” “What happens to our child custody agreement during school closures?” Schools Closures Schools in Illinois and Iowa began closing last week in response to the growing danger and uncertainty…
In this article, we’ discuss deportation versus inadmissibility, common reasons for inadmissibility and deportation, defenses to deportation, and the removal process. The risk of deportation is a very real and very frightening possibility for a number of immigrants in the United States. Facing removal proceedings can be frustrating and confusing, especially since it is likely the first exposure many may have with the US justice system. Removal is a process by which the government attempts to remove a non-citizen from the United States and place her in her country of origin or another country that will accept her. However, an…
As a handful of major metropolitan cities and states begin issuing shelter-in-place orders and possible future quarantine we are left asking ourselves questions such as, “Is it legal for me to go outside anymore?” “The airports are still open, can I fly?” “Will I get arrested for walking my dog?” That last question might sound a little ridiculous, but during an unprecedented time, with local officials issuing different statements around the country, its difficult to discern real news from fear-mongering.  Federal and CDC Authority What is definitely not fake is the power of the federal and state government to issue…
The uncertainty of the Coronavirus doesn’t mean you can or should put your legal needs on hold. O’Flaherty Law has always offered in-person consultations at our nine convenient locations, but did you know that you can receive a consultation and receive legal services from one of our experienced and knowledgeable attorneys without leaving your home? Our attorneys are happy to speak to you by phone, by virtual consultation, by email or with a traditional in-person consultation. To schedule a consultation, please call us at (630) 324-6666, email us at info@oflaherty-law.com or book a consultation online. Should you choose…
In this article, we’ll define “force majeure” and discuss if this type of clause can really be enforced, how the language of the contract affects a force majeure clause and how to prove or disprove the validity of force majeure clauses in business contracts. To say the world of business has been turned upside down, inside out and set on fire by the coronavirus might be an understatement. History has shown us that traumatic, world-changing events are not kind to maintaining business-as-usual; with small businesses often taking the brunt of the disruption. As of writing this, uncertainty due to the…
In this article, we discuss limited partnerships, the requirements for setting up a limited partnership, the benefits and disadvantages to setting up a limited partnership in Iowa, and the process for setting up the limited partnership. What is a Limited Partnership? A limited partnership is a legal way to structure a business between two or more individuals or entities. Normally, in a limited partnership, there is a general partner and limited partners. The general partner is tasked with managing the business and overseeing operations while the limited partners have no direct management of the company. As the name implies, the…
In this article, we discuss what documents and materials you should collect before sitting down to fill out Form I-485 for Adjustment of Status. Form I-485 is the main USCIS application for immigrants who are eligible to apply for lawful permanent residence (US green card) and can also do so while living in the US and not having to leave the country for an overseas consular interview. Individuals eligible to file Form I-485 will typically fall into one of four categories: Those who came to the US on a temporary work visa such as an H-1B and were sponsored by…
In this article, we’ll discuss what factors to consider when contemplating bankruptcy for your business, what type of bankruptcy is right for your business, and the pros and cons of each option. Owning a successful business that is cruising along like a well-oiled machine can be a very rewarding experience; just as owning a business that is digging itself deeper into debt can feel like suffocating jail cell.  Every business owner understands the ups and downs of running a business, but it’s important to know what tools are at your disposal should your business run into an extended time of…
In this article, we’ll discuss Illinois bankruptcy exemptions, how Illinois handles bankruptcy exemptions, and list some of the common bankruptcy exemptions to be aware of if you’re filing for bankruptcy in Illinois. Filing for bankruptcy in Illinois doesn’t mean you’ll lose everything and end up living in a cardboard box underneath a bridge. The process is designed so that the individual or business owner can get back on their feet and continue living their life in much the same fashion as before but with a newfound understanding of how to avoid debt and better manage monthly expenses. Many of your…
In this article, we’ll discuss some of the most important clauses that Iowa businesses should include in their employment contracts and independent contractor agreements. We’ll cover non-compete clauses, trade secret clauses, non-solicitation clauses, non-disparagement clauses and a host of other important items to include in your employment contracts and IC agreements. We’ll also go over some of the common, but every important clauses that should be in every contract no matter the business. The point of these contracts is to protect your business from legal issues, establish clear roles and responsibilities on both sides, outline the services to be performed…
In this article, we’ll discuss a trustee’s responsibility and fiduciary duties, examples of breach of duties, and the possible remedies ordered by the court against the trustee. Responsibilities as a Trustee When drafting a trust, choosing the right trustee is a very important decision. This individual or entity will be tasked with following the responsibilities set forth in the trust. These responsibilities can be as simple as making sure the estate’s assets are properly disbursed among the beneficiaries, or as complex as overseeing the continued financial success of stocks, assets, investments, etc. The trustee is obligated to carry out the…
In this article, we’ll discuss Iowa’s Disabled Veterans Homestead Tax Credit and other tax exemptions available to disabled veterans in Iowa. We’ll cover eligibility for the program, the application process and discuss associated documentation. Back in 2015 House File 166 was signed into law. The bill modified the existing homestead tax credit to include disabled veterans with a permanent disability rating. As of now, a disabled veteran in Iowa can receive up to full property tax exemption if it can be proven that his or her disability is due to military service. Iowa also allows veterans to receive a property…