Retirement Plan Trusts
Do you have an IRA or 401(k)? You may want to consider a retirement trust as a part of your estate plan. A majority of Americans have some type of retirement account. A retirement trust allows you to manage those…
New Pet Custody Law in Illinois
Pets have always been considered property in the eyes of the law. A new state law, effective January 1, 2018, now allows a judge to determine custody for companion animals within the context of a divorce proceeding. The law, which…
Protect Your Estate during a Divorce
The legal process of divorce can be overwhelming emotionally, especially as it relates to the financial disruption that occurs with the divorce process. Each divorcing person has an interest in protecting their financial future-not just the near term, but also…
The Tax Reform’s Effect on Spousal Maintenance
The new year brought new laws. One of the most highly publicized, and impactful new laws brought significant changes to the U.S. tax code. If you are an individual seeking divorce you may be affected by this new law. Illinois’s…
What to Know Before Buying Real Estate “As Is”
The law permits the transfer of property, including real estate in the condition in which it exists (often referred to “as is”). All buyers should be aware of what this term means, and its implications. Under the most commonly used…
How the Tax Reform Affects Realtors
On December 20th, 2017 one of the largest tax reforms bill in recent decades was passed, which went into effect on December 31, 2017. The implications of this Act will affect realtors, homeowners, future homebuyers and the real estate market.…
How the Tax Reform Affects Pass-Through Businesses
On December 20th, 2017 one of the largest tax reform bill in recent decades was passed. One significant change effects pass-through businesses, including sole-proprietorships, S corporations, and LLCs taxed as partnerships or S corporations. These businesses are classified as pass-through…
How the Tax Reform Affects Businesses
How the Tax Reform Affects C Corporations On December 20th, 2017 one of the largest tax reform bills in recent decades was passed. C corporations, which experience a double-taxation due to taxation at corporate and income-distribution levels, should experience some…
Tips to Sell Your Home during Winter
Winter is commonly known as the real estate off-season. However, sometimes homeowners must put their house on the market during colder months. If you have committed to selling your home at this time of the year, consider these tips. Price…
Do the New 2018 Tax Laws Affect You?
The new year brought new laws. One of the most highly publicized, and impactful new laws brought significant changes to the U.S. tax code. If you are an individual seeking divorce, a homeowner or potential home buyer, or a business…