The process of registering a company with the state varies, depending upon the business formation structure chosen by the founders of each new enterprise. There are four primary company structures available to aspiring business owners. If you are hoping to launch a new business venture soon, it will be important for you to weigh the pros and cons of each opportunity before committing to one over the others.

Sole Proprietorships 

Sole proprietorships are owned by one individual, whereas partnerships involve multiple owners. These business formation opportunities offer particularly flexible managerial structures and do not require much work to set up. They are taxed on the individual returns of each owner and do not require much, if any, reporting to the state. They are often particularly appealing for low-risk, local business enterprises. Sole proprietorships do not offer any personal liability protection in the event that the company gets sued or falls behind on its financial obligations.

If you are the sole owner of your business and do not establish another business structure, your business is automatically considered a sole proprietorship. 

A 2021 Pew Research Center Survey revealed that just shy of one-third of American adults describe their Internet usage as being online “almost constantly.” Roughly half of the respondents indicated that they go online at least several times per day. This means that, if you are like more than 75 percent of your peers, you spend a great deal of time interacting with the world electronically. If your estate plan does not reflect that reality, it is time to start updating your documentation.

What Is Digital Estate Planning?

In a nutshell, digital estate planning involves setting your digital affairs in order in the event that you pass away or become incapacitated due to illness or injury and can no longer advocate on behalf of your own interests. Digital estate planning may address any electronic assets, access, and intellectual property, from photos stored in the Cloud to email accounts, online banking to every text that is stored on your phone.

Why Is Digital Estate Planning So Important?

There are two primary reasons why, regardless of your age and health status, you will want to start digital estate planning now. First, chances are good that you do not want just anyone poking around in your digital footprint and managing password-protected accounts, etc. however they please. Digital estate planning will help you to control who can access your online presence and how it will be managed in the event of death or incapacitation.

If you and your child’s other parent are divorcing or otherwise going your separate ways but you both plan to remain very active in your child’s life, the court will likely insist that you draft a parenting plan as part of your overall child custody order. The process of creating a parenting plan will allow you both to set expectations concerning communication, transportation, co-parenting duties, and other aspects of raising your child in separate households.

If you and your co-parent cannot work through fundamental differences concerning how this document should be constructed, a judge will need to make a determination regarding whose approach best reflects your child’s best interests. But, if you and your co-parent are willing to work together and with your attorneys to reach mutually-agreeable terms, you can construct this document in whatever ways you both feel are best for everyone.

Sustainability

You and your co-parent can address a variety of issues within the boundaries of your parenting plan. For example, you can detail your parenting time schedule, how you will manage holidays and special occasions, who will be responsible for transportation between houses, and who will pay for your child’s extracurricular activities.

Starting a business can be a thrilling, rewarding experience, but it can also be nerve-wracking and stressful. There are so many things a new or prospective business owner needs to think about - how the market is currently being served, what kind of business structure to use, how to document the business’s daily operations, and so much more. 

For unseasoned business owners, so many of these processes can feel like a shot in the dark. How do you know if you are doing everything correctly? How can you protect yourself from future wage lawsuits or tax audits? Fortunately, an Illinois business lawyer has experience in running a business smoothly and can give you the help you need. 

What Do Business Lawyers Do? 

The role of a business lawyer varies widely depending on the needs of the business itself. For new businesses, however, the role of a business lawyer is fairly consistent: Ensuring the business has a strong foundation on which to build and function smoothly. The many things a business lawyer can help with include, but are not limited to: 

If you are looking for a way to provide for your family’s future, a revocable living trust may be the right choice for you. A revocable living trust is an arrangement that allows you to manage and transfer your assets during your lifetime and after your death. It is important to understand the advantages of creating such a trust, as well as the legal requirements in Illinois, and a qualified estate planning lawyer can help.

What is a Revocable Living Trust?

A revocable living trust (RLT) is an agreement between an individual (the grantor) and another person or institution (the trustee). The grantor transfers ownership of their property into the trust, which is then managed by the trustee according to the terms outlined in the RLT document. With a revocable living trust, the grantor is able to retain control over all aspects of the trust, including how it is funded and what happens when they pass away. This type of trust offers many advantages over traditional wills, including avoiding probate court proceedings and reducing estate taxes.

Advantages of Creating a Revocable Living Trust

One advantage of creating an RLT is that it typically allows you to avoid probate court proceedings, which can be lengthy and costly. By transferring ownership of your property into a trust, it can be passed directly to your beneficiaries without having to go through probate court. Additionally, if you have minor children, setting up an RLT allows you to provide for them in a way that ensure that they are well taken care of. Finally, RLTs offer tax benefits in some cases since they are not subject to federal estate taxes or state inheritance taxes like wills are.

People often spend months and even years thinking about divorce before actually beginning the process. The reasons for this are myriad: not being sure whether you really want to end the relationship, concern about divorce’s effects on young children, uncertainty about the divorce process itself. Whatever the reason, gathering information about how to get divorced in Illinois is an important first step for eventually leaving an unhappy or abusive marriage. 

While there are seemingly endless resources available online to help coach people through divorce, the process can be very complex and there is no substitute for an experienced divorce attorney who is looking out for a client’s best interests. If you want to know more about the divorce process in Illinois, read on and then contact one of the divorce lawyers with NN Legal Group for more information about your specific case. 

Where Do I File for Divorce? 

A divorce case needs to be filed in the county where one of the spouses lives, or where the majority of the marriage took place. For example, if a couple lived in Cook County for most of their marriage but recently separated and one spouse moved to DuPage County while the other moved to Will County, any of those three counties could process the divorce. However, different counties sometimes have different reputations for ruling on certain divorce issues, so it may also be worth your while to gather information about each county’s court system. Before filing for divorce, make sure you meet Illinois’ residency requirements - either you or your spouse must have lived in the state for at least 90 days before filing, and if you have minor children, the children must have lived in the state for at least 180 days or since birth. 

Anyone who has started a business in Illinois knows how challenging it can be to get the project up and running. The planning, paperwork, and personal investment in time, money, and sweat equity can be overwhelming, especially in a business’s first few years. 

Unfortunately, even after all the careful effort involved in helping a business become successful, business owners may occasionally face unexpected litigation. Even if your business is not dealing with any lawsuits now, learning about the types of litigation a business like yours might face can help you prevent problems in the future, as well as understand the potential liability you may be facing and what action you should take. Whatever legal issues you may be facing, an Illinois business law attorney can help. 

Contract Disputes

Contract disputes are one of the most common types of business lawsuits. Companies may engage in contract disputes with individual contractors, other companies like service providers, and even with the government. 

Buying a home, especially for the first time, can be an experience filled with excitement and trepidation. After all, buying a home is both an enormous financial commitment and a major milestone in a person or couple’s life. If you are interested in buying a home in Illinois for the first time, you probably have a million questions about what you need to do. Fortunately, with the help of a residential real estate attorney, the process of buying a home can be simple and straightforward. 

Do I Have to Have a Lawyer to Buy a House in Illinois? 

Because buying a house entails signing major contracts, Illinois requires homebuyers to have an attorney review the purchase agreement before a home purchase can be finalized. Even if you do not have a real estate attorney for any other reason, this part, at least, is mandatory. Your contract should always have something called a “contingency clause,” which allows an attorney to review and change the contract. Your attorney will make sure this clause is there and that he or she makes other necessary changes to protect your interests. However, residential real estate attorneys can be helpful for many other reasons. 

What Else Does a Residential Real Estate Lawyer Do? 

You will want the help of a residential real estate attorney before you even begin looking at a house. This is because an attorney can explain how long you can expect to wait in general before a purchase is finalized, and offer more specific advice on a specific property. This can be very important, especially if you are moving out of another home or apartment on a tight deadline. 

Neighbors can be a blessing, but they can also be a major hassle to deal with. Even in some of the more rural areas of Illinois, most people have neighbors who live close enough to impact them with their behavior, and this is certainly true in densely populated areas. One subject on which people regularly disagree with the behavior of their neighbors is that of pets and other animals, especially dogs. A well-trained dog may be a man’s best friend, but a neighbor’s dog that is allowed to wander and harass neighboring people and property can present a major challenge. If you are struggling with a neighbor dispute over someone who lets their dog wander onto your yard, you may be able to take legal action. 

Should I Call the Police if a Neighbor’s Dog is in My Yard? 

A wandering dog may do no more harm than leave an unpleasant surprise on the bottom of your shoe. But when a dog presents a threat to children, elderly adults, or livestock, the matter needs to be taken seriously. If you have not already, try to resolve the issue by talking to your neighbor. It is possible that they may not be aware of the problem and could be willing to take steps to control their dog. 

However, most reasonable people try this as their first course of action and find that talking to the wandering dog’s owner is ineffective as well as deeply unpleasant. The next course of action you may consider is involving the police or animal control. Illinois requires dogs in private yards to be fenced in properly and your neighbor may face fines for failing to control their dog. 

Although Millennials and Gen Z are getting married at lower rates than previous generations, when they do get married, a significant percentage of them create and sign a prenuptial agreement. This is partly because they tend to get married at older ages and have more value in their personal belongings than previous generations. It is also in part because they have a heightened consciousness of the likelihood of divorce and its financial risks. 

Whatever the reason for creating a prenup, spouses may find that, faced with the prospect of divorce, their prenup no longer serves their interests or perhaps never did. An outcome that may not seem so bad in theory may suddenly sound terrible in practice. In cases like this, it is only natural to wonder whether the terms of a prenup can be disputed in court. 

What Can Invalidate a Prenup? 

The first thing that could invalidate a prenup is if both spouses simply agree not to abide by its terms. However, if one spouse is put at a disadvantage because of a prenup, it is unlikely that the other spouse will be willing to give up their advantage. Other options, then, are necessary. 

Estate planning is one of those responsibilities that people tend to postpone as long as possible. Understandably, thinking about the possibility of incapacitation or death is not something most people are eager to consider. However, building a detailed estate plan is essential to ensuring that your wishes are followed if you fall extremely ill or pass away.

The term “power of attorney” may refer to a legal document or the individual that acts as power of attorney. There are two main types of powers of attorney in Illinois. One handles financial concerns on another person’s behalf and the other handles medical decisions. As you create your estate plans, make sure to carefully choose the individual or individuals who will act as your power of attorney.

Power of Attorney for Property and Healthcare Power of Attorney

Have you ever thought about who should manage your affairs if you are in a serious accident or suffer an incapacitating illness? A power of attorney is an estate planning tool that lets you give someone the authority to act on your behalf if you cannot make or express your wishes. In Illinois, a power of attorney for property or financial power of attorney pays your bills and manages your money if you cannot do so yourself. A healthcare power of attorney makes medical decisions for you. Some people choose the same person to act as a healthcare power of attorney and financial power of attorney. Others choose two separate people to fulfill these roles.

Illinois has enacted many changes to divorce and family laws in recent years. Child custody is now broken down into two main categories: A parent’s right to make decisions about his or her child’s education, healthcare, and other vital issues is referred to as “parental responsibilities.” The time that a parent spends directly caring for his or her child is called “parenting time.” Read on to learn more about parenting time in Illinois.

Parenting Time Schedules and Parenting Plans

Divorced parents are required to draft a parenting agreement or parenting plan. The plan contains important information about how the parents will divide parenting time and responsibilities. Some parents alternate weeks or months which their children. Others use a 2-2-3 schedule in which the children switch homes every two days and parents alternate who has parenting time on the last three days of the schedule. Sometimes, one parent has the child on weekdays, and the other parent has the child on the weekends.

If parents can agree to the terms of the parenting plan, they can submit one parenting plan to the court for approval. If they cannot agree, each parent can submit his or her own plan to the court and allow the court to make the final decision.

At their core, most entrepreneurs are dreamers. They dream of starting a business that will provide not only financial security but also personal fulfillment. Starting your own company and expanding it into a thriving business is a feat that few achieve. Many businesses fail within a few years. However, some entrepreneurs rise above the fray and achieve their business dreams. If you are thinking about developing a startup, it is important to explore your options carefully.

Will This Business Be Profitable?

Starting your own company is about much more than making money. A startup allows an entrepreneur to create something of great personal value. However, The bottom line of any business is profitability. You must ensure that your business will be lucrative. It is not enough to have an innovative idea or original product, you must also ensure that you will be able to sell your products and services to customers.

What is My Competition Like?

Over 4 million companies were founded in the year 2020 alone. Evaluating your business’s potential competition is an essential part of developing a successful business. Research businesses that are similar to your startup idea. What will your business offer that other businesses do not? How will your business stand out from the competition?

If you are getting divorced, you may understandably worry about the financial consequences of ending your marriage. In some cases, a divorcing spouse is entitled to financial assistance from the other spouse, which is referred to as spousal maintenance or spousal support. This financial support, called alimony in other states, can be a major source of financial relief for the recipient spouse. However, it can also be a significant expense for the paying spouse. It is important for every divorcing spouse to understand the role spousal support may play in their divorce.

Who Can Receive Spousal Support?

Some spouses are entitled to spousal support because they have already signed a prenuptial agreement that dictates the amount and duration of support to be paid in the event of divorce. Spouses may also be able to negotiate the terms of spousal support and reach an agreement without the court’s involvement during the divorce process. Spouses also have the right to petition, or ask, the court for spousal support. The court has the discretion to award spousal support or deny the request.

How Much Does a Spouse Pay?

The amount of spousal support a spouse pays is based on the spouses’ net incomes. Illinois law sets for the following spousal support formula: One-fourth of the recipient’s net income is subtracted from one-third of the paying spouse’s net income to find the amount of support to be paid.

Non-disclosure agreements (NDAs) are employment contracts between employer and employee that serve as a necessary safeguard to protect business trade secrets. Such trade secrets include proprietary information of the disclosing party and any research or knowledge that is not yet patented or copyrighted. There are two types of non-disclosure agreements: unilateral and mutual. The one-party unilateral NDA is the most common. Unilateral NDAs specify employee confidentiality during and after employment and usually includes an expiration date.

Every NDA is distinctive to the business’ needs. Astutely drafted NDAs are more likely to be upheld by the courts. NDAs with overreaching provisions may be ineffective and subject to litigation. So, it is essential that an NDA is precisely customized to the employer’s needs.

NDAs Help Businesses Thrive and Stay Out of Jeopardy

The benefits of an NDA diminish the real risk of business ruin. Succinct NDAs stipulate what is confidential. NDAs can encompass a myriad of complex agreements and clauses, but the standard unilateral NDA incorporates:

After a person dies, their loved ones will need to sort out their final affairs. The person who was named as the executor of the estate in the deceased person’s will is responsible for filing the will in probate court and overseeing the process of distributing the person’s assets to their heirs. There are a variety of complications that can arise during this process, and in some cases, the deceased person’s family members or other expected beneficiaries may dispute the validity of the will. By understanding the reasons why a will may be contested, executors, beneficiaries, or other involved parties can determine their options for addressing this issue.

Potential Reasons for Will Contests

After a will is filed in an Illinois probate court, interested parties (including beneficiaries, expected heirs, or creditors) will have six months to contest the will. However, there are only a few specific reasons that a will may be contested. Family members or other heirs generally cannot contest a will simply because they are unhappy with the decisions that were made. Instead, the validity of a will may be disputed if a person believes that there is evidence that the terms of the will went against the deceased person’s actual wishes. Reasons that a will may be found invalid include:

• Someone coerced the deceased person into creating or updating their will - This is known as “undue influence,” and it will generally involve situations where someone in a position of power over the person convinced them to make changes to their will. For example, a nurse who provided daily care for an elderly person may have convinced the person to name them as their primary beneficiary, or a family member who managed a person’s finances may have convinced them to change their will in a way that unfairly benefits themselves or others.

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When family law cases involve children, including situations where parents get divorced or child custody cases where parents are unmarried, child support will often be a factor. This form of support will ensure that children’s ongoing needs will be met. While parents may expect that child support will be paid by one parent to the other, they may not be fully aware of what child support is meant to address and what types of expenses will be included. By working with a family law attorney, a parent can make sure they understand how the law applies in their situation, and they can ensure that child support orders will fully address their children’s needs.

Basic Child Support and Additional Expenses

Under Illinois law, a statutory formula is used to calculate what is known as a “basic child support obligation” based on the amount of income earned by both parents and the number of children they share. This amount is meant to provide for children’s basic, everyday needs, including making sure they have the necessary food and clothing and providing them with a place to live. After a basic support obligation is calculated, it will be divided between the parents based on the amount that each parent contributes to the couple’s combined income. 

In addition to the basic support obligation, parents may also need to determine how to divide other child-related expenses. There are multiple types of expenses that may need to be addressed, and these will also generally be divided based on each parent’s percentage of their combined income. Applicable expenses may include:

Business owners will need to address a variety of legal issues when establishing and operating a business. One of the most important decisions that will need to be made involves how a business will be structured. During the business formation process, owners or partners will need to select the correct type of business entity, meet all legal requirements for registering the business, and ensure that the proper organizational structure, management practices, and reporting procedures are in place. In many cases, structuring a business as a limited liability company (LLC) can provide a number of benefits. By working with a business law attorney, owners and partners can make sure they follow the correct procedures to create and operate an LLC.

Reasons to Choose an LLC Business Structure

LLCs provide many of the benefits of corporations while providing owners with the ability to maintain control over business operations and make changes as needed. An LLC may have a single owner, or multiple partners (known as members) may share ownership. If necessary, new members can be added when a partner purchases an ownership share of the company or steps into a leadership role. Advantages of an LLC include:

• Protection from liability - In most cases, members of an LLC will not be held personally liable for the business’s debts and financial obligations. This ensures that the personal assets owned by a member will not be at risk if the business experiences financial setbacks or is unable to pay its debts.

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There are many reasons why a couple may choose to enter into a prenuptial agreement before they get married. These agreements, which are commonly known as “prenups,” will detail how certain issues will be handled if a couple chooses to get divorced in the future. A person who owns significant assets may use a prenup to ensure that they can maintain ownership of these assets in the case of divorce. A couple may also make decisions about whether either party will receive spousal support or how different types of marital property will be divided. While these agreements can be very beneficial, it is important to make sure that an agreement is legally valid and will be enforceable if a couple chooses to get a divorce in the future.

Issues That Affect Enforceability of Prenups

A prenuptial agreement must be created prior to a couple’s marriage, and it will become valid after the couple becomes legally married. To ensure that the terms of an agreement will be followed in the case of divorce, spouses will want to do the following:

• Consult with an attorney - Each spouse should be able to review an agreement with the help of an independent attorney. This will ensure that they fully understand the terms of the agreement and their rights if they decide to get divorced at a later date. If one spouse chooses not to consult with an attorney, they should provide a written and signed statement waiving their right to receive legal counsel.

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Businesses often rely on contracts to protect their rights and interests, and these legal agreements can protect them from financial losses if they meet all of their contractual obligations. However, there are many cases where a business may be placed in a difficult position because another party failed to fulfill a contract’s terms. In these cases, a business may pursue a breach of contract lawsuit, and it may seek to recover damages from the other party to address the losses that it experienced because of the breach.

Types of Breach of Contract Damages

When pursuing civil litigation to address a breach of contract, a plaintiff will not only need to show that the defendant failed to meet their obligations under the contract, but they will also need to demonstrate that they suffered harm because of the breach. If a plaintiff proves that the defendant’s actions caused financial losses or other forms of harm, a court may award damages to the plaintiff. These damages may include:

• Compensatory damages - The defendant may be required to repay the plaintiff for the losses that occurred because of the breach of contract. These may include consequential damages that occurred as a direct result of the breach. For example, if the defendant failed to deliver equipment that the plaintiff had ordered, the defendant may be required to refund any payments made by the plaintiff, and they may also be required to pay for any additional expenses incurred as a result of ordering replacement equipment. A defendant may also be required to pay expectation damages for additional losses that arose because of the breach of contract. For example, the failure to provide equipment may have affected the plaintiff’s ability to perform certain types of work, causing them to lose business from a customer, and the defendant may be required to compensate the plaintiff for these losses.

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