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PH: 847.549.0600 FX: 847.589.2263
INTERNAL REVENUE SERVICE 2022 ESTATE AND GIFT TAX EXEMPTION UPDATES The Internal Revenue Service (IRS) releases updated estate tax exemptions and gift tax exemptions every year. For the calendar year of 2022, estate tax exemptions have increased to the amount of $12.06 million compared to the 2021 amount of $11.7 million. Gift tax exemptions for... Read more »
A Limited Liability Company (LLC)is a legal entity and a business structure in Illinois and the United States that protects business owners from personal responsibility for their liabilities or debt. It is a hybrid entity that combines the benefits of a corporation with those of sole proprietorship or partnership. Like any other business structure, setting... Read more »
Divorce, or the dissolution of a marriage, is always a serious and touchy process. Emotions can be unpredictable. People can argue, assign blame, and even create some pretty crazy stories in an attempt to get the outcome that they feel they deserve. Unfortunately, most divorces right now are contentious and take up a lot of... Read more »
Families that would rather avoid probate court due to the costs and time frame of a court proceeding can take advantage of small estates affidavits to obtain a decedent’s assets. These include assets such as vehicles, bank accounts, certificates of deposit and corporate stocks standing in their name alone. The maximum amount of non-probate personal... Read more »
If you are a family member who cares for someone with a disability, whether a child or an adult, a Special Needs Trust is an estate planning tool that can be used when a client or client’s family member may be entitled to government benefits. A properly drafted Special Needs Trust, funded with an adequate... Read more »
Commercial leasing disputes can be costly. Not only can they sour a relationship between a landlord and a tenant, they are often very expensive. Between legal fees and lost rent or services, a lot of time and money can go into a commercial lease dispute. Thankfully, many commercial lease disputes can be avoided... Read more »
Spousal Alimony Modifications In a divorce, courts go to considerable lengths to figure out how much spousal support one spouse should pay to the other. This initial decision is based on a variety of factors. It might include the parties’ financial situations and any non-monetary advantages that one partner may have provided to the marriage.... Read more »
LLCs and corporations are important tools in our legal and business system. These legal entities allow business owners to protect themselves from personal liability in many cases. This encourages entrepreneurs and business owners to take risks since liability is contained within the business itself. However, LLCs, corporations, and other entities are not indestructible. If... Read more »
Traffic court supervisions are one way that a driver can be punished for a traffic violation. A supervision is different than a conviction. Generally, the information with a supervision is less public, meaning that it will often not affect a driver’s insurance rates. But court supervision is not always a given. So how does traffic... Read more »
Illinois Truck Accident Wrongful Death Actions Fatal truck collisions are a rather common occurrence on Illinois’ highways and roads. Trucking companies are responsible for vetting their drivers, adhering to local and federal laws, and encouraging safe trucking. Tragedies may occur when trucking companies or drivers fail to follow those standards. If a loved one has died... Read more »
Phone Number: (847) 549-0600
Fax Number: (847) 589-2263
Libertyville Office
350 N. Milwaukee Ave., Ste. 202
Libertyville, IL 60048
Manchester Office
2100 Manchester Road, Suite 920
Wheaton, IL 60187