John J. Pembroke & Associates LLC
Call Our Law Office Today
847-696-0060

Park Ridge Illinois Legal Blog

Six Legal Tips for Starting a New Business

blog1.jpg

Whether you are starting a restaurant or opening up a roofing business, there are a number of different business issues you must consider. Many of these issues happen to fall within the legal realm.

Failure to take care of these legal issues can jeopardize the legitimacy of your business and can even land you in legal trouble. Here are six legal tips for starting a new business.

Probate Terms You Should Know

blog-2.PNG

The term "Probate" refers to the process in which a will is legally proven in a court of law. This process is far from simple and can sometimes result in a number of complications along the way, especially if the will in question is legally flawed in some way.

Perhaps a will in which you have a personal interest in is about to go through the probate process? Maybe you want to more thoroughly understand the probate process? If so, here are some terms you'll need to know:

The Advantages of Estate Planning in Mount Prospect, Illinois

blog-4.PNG

Whether you like it or not, someday you will die. Fortunately, even after you're gone, your assets will continue to have value. The question is: who do you want to inherit your assets?

By planning your estate, you will ensure that your many assets are passed down to the specific beneficiaries you select. This is far from the only benefit of estate planning. Read on to discover the advantages of estate planning in Mount Prospect, Illinois.

Maximize Inheritance

Unfortunately, like all other transactions in the United States, the distribution of an estate is subject to administration costs, expense, and possibly taxation. In particular, this process can be burdensome, and costly, and may include inheritance taxes. These costs and taxes can be a significant percentage of an overall estate, greatly reducing the amount of money which beneficiaries of the estate will receive.

Questions to Ask a Business Lawyer When Starting a New Business

blog-8.PNG

Starting a new business is an exciting process, but sometimes it can be stressful. Regardless of the type of business you're looking to start, there are undoubtedly some roadblocks you'll encounter. A great many of these roadblocks may come in the form of legal issues.

How do you deal with these legal issues? The best way to deal with legal issues is by consulting a business lawyer. What questions should you ask your business lawyer? Here are a few questions to get you started:

Which Legal Business Structure Should Be Used?

If you've never owned a business before, you may not realize that you'll need a legal business structure for your entity. This business structure will have a significant effect on how your business is taxed and how your business operates.

Six Valid Reasons to Update Your Will

blog-6.PNG

You've done it. You've met with an attorney and have officially signed your last will and testament, and related estate plan documents. Nothing to worry about now, right? Well, not quite.

While it's certainly an accomplishment that you've drawn up your will, you're far from finished with administering your estate plan. Life changes, and as it changes, your estate plan should be changing too. Here are six valid reasons to update your will and/or the rest of your estate plan documents.

1. Your Beneficiaries are Deceased

One of the main reasons to update your will is if one of your designated beneficiaries has passed away. If assets are passed down to a pre-deceased beneficiary, those assets may then be passed down to someone you didn't contemplate before the death.

Five Common Estate Planning Mistakes

blog-5.PNG

You might not realize it, but planning your estate is an important step to take to keep your affairs in order. When you die, your assets will be passed down to a beneficiary. Who that beneficiary is, however, is completely dependent on the language in your will and/or trust, or if there is none, state law.

When attempting to plan their estates, people can experience a number of common problems. Do-it-yourselfers sometimes make mistakes of drafting or omission which can have a minimal or a significant impact on their heirs.

Here are 5 common estate planning mistakes.

Should You Hire an Estate Planning and Probate Attorney in Bensenville, Illinois?

blog-3.PNG

The simple fact of the matter is that leaving your assets to your loved ones at your death can be complex. Often, while you may believe that you have a firm grasp on how it will play out after you are gone, there's a good chance that you may not anticipate unintended consequences from informally dealing with this issue. Not only does the estate planning process involve a variety of legal issues and potential conflicts, but taxes can be an issue as well.

For this reason, it's typically wise to hire an estate planning attorney. Wondering if you should hire a Estate Planning attorney in Bensenville, Illinois? This article should help you to make your decision. 

Should You Avoid Probate in Cook County, Illinois?

blog-2.PNG

Probate is the process in which a deceased person's assets are divided and distributed by the courts. While this process is sometimes a necessity, it is generally something that you want to avoid at all costs.

Avoiding probate is a process which typically requires the help of an experienced probate lawyer. Wondering if you should avoid probate in Cook County, Illinois? Read on for some tips that will help you make the right decision.

When Should You Contest a Will?

Last Will and Testament

While the vast majority of Wills are carefully prepared and valid, some Wills are quickly drafted and prepared with forms that may not meet your needs. There are several reasons that a Will can be contested in a court of law.

A person who contests a Will is essentially questioning its legal validity. Individuals contest Wills for a many reasons, some which will prevail in court, some not.

Trying to decide if you should contest a Will? Well then, you're in the right place for expert advice. Why might you contest a Will? Let's review some basics.

How Can You Benefit from Estate Planning ?

Last Will and Testament

Whether we like it or not, our lives are finite and will eventually come to an end. However, after we've gone our loved ones will remain, and they'll need to make it through life without us. While we won't be able to physically be there to help them, our assets can help make a difference.

This is the heart of the importance of estate planning. Only through estate planning can we ensure that our assets will make it intact into the hands of our loved ones.

However, this isn't the only benefit of estate planning. Let's review the other benefits to illustrate why estate planning is so important.

  • AV | Preeminent | Peer Rated for Highest Level of Professional Excellence | 2017
  • Illinois State Bar Association
  • Super Lawyers
  • The Chicago Bar Association
  • ABA | American Bar Association

Make Your Appointment Today

Find out how our experienced team can assist with your legal matters. Call our office in Park Ridge at 847-696-0060 or fill out the form below to schedule a confidential consultation.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy