Fall 2017 / Volume 15, No. 2

STRUCTURING TITLE TO REAL ESTATE INVESTMENTS

You’ve decided it’s time to put some of the spare money under your mattress toward investing in real estate.  Before jumping in by yourself, consider whether it’s smarter to go it alone or invest with a group.  

REVISITING AN OLD TRUST: DECANTING IRREVOCABLE AGREEMENTS

Trusts have existed for a long time, first recognized under English common law around the time of the Crusades. While the uses and structures of trusts continue to evolve, it has been a near immutable assumption that only revocable trusts could be modified and, conversely, the terms of an irrevocable trust were permanent.

Spring 2017 / Volume 15, No. 1

GROOMING YOUR COMPANY FOR SALE

Many business owners decide that the right time to sell their business is when they are ready to retire or when they face personal events such as health issues or a need for liquidity. 

YOUR PLACE OR MINE?  USING FORUM SELECTION CLAUSES IN CONTRACT

Under applicable contract law, the parties to a contract are given great leeway in determining what provisions to include in their agreement. 

Fall 2016 / Volume 14, No. 2

SELLING A COMPANY TO ITS EMPLOYEES

Business owners planning for retirement generally contemplate either the sale of the business to a third party or a transfer of ownership to family members, but another option may be to sell the...

EMPLOYMENT DISCRIMINATION CLAIMS GET EASIER TO PROVE

Over the past several years, it has become increasingly difficult to determine what types of evidence are needed for an employee or ex-employee to have a viable discrimination claim...

Spring 2016 / Volume 14, No. 1

THE ILLINOIS PERSONNEL RECORD REVIEW ACT AND WHY IT MATTERS

Illinois employers, in-house counsel and human resources staff should be aware of the Illinois Personnel Record Review Act (“PRRA”) which requires an employer with at least 5 employees to...

WILL THE GIG ECONOMY BE GAGGED BY THE MISCLASSIFICATION OF WORKERS?

On April 21, 2016, the ride-sharing service Uber settled two class-action lawsuits brought by drivers who claimed that Uber had improperly classified them as independent contractors...

Spring 2015 / Volume 13, No. 1

Non-Competes Becoming More Difficult to Enforce in Illinois

Much to the chagrin of Illinois employers wishing to have their employees enter into enforceable non-competition agreements (“Non-Competes”), enforcing a Non-Compete is becoming more difficult...

PROPERTY TAX REASSESSMENTS IN 2015

EASSESSMENT SCHEDULE. Outside of Cook County, real estate in Illi-nois is reassessed every four years and 2015 is the quadrennial reassess-ment year. In Cook County, property is reassessed...

Fall 2014 / Volume 12, No. 2

Inherited IRAS Lose Bankruptcy Protection

In Clark v. Rameker, the U.S. Supreme Court unanimously held that inherited individual retirement accounts (“IRAs”) are not exempted from an IRA beneficiary’s bankruptcy estate, thereby exposing...

THE IMPORTANCE OF A PERIODIC REVIEW OF AN ESTATE PLAN

An estate plan is not a static set of documents.  Even if a person has completed the proper documents to achieve personal and family goals, which incorporate federal and state tax saving...

Spring 2014 / Volume 12, No. 1

WHAT TO DO IF YOUR COMPANY IS VICTIMIZED BY A DATA BREACH 

Most people are aware of the recent data breach that affected a national retailer and its customers.  However, a company doesn’t have to be a national retailer or be the victim of international hackers...

Employer Coverage Under the Affordable Care Act

The Patient Protection and Affordable Care Act (“ACA”) requires “large employers” to offer minimum essential coverage to full-time employees and their dependents or pay a penalty tax...

November 2013 / Volume 11, No. 3

CHOOSING A BUSINESS ENTITY

Everyone starting a for-profit business is faced with the issue of what type of entity to use for the business.  There are numerous possibilities, and the distinctions among the various types of entities...

ESTATE PLANNING AFTER THE TAX REFORM ACT

For 2013 and beyond, estate planners and their clients have a new favorable tax planning environment.  For the last decade, estate planning attorneys have been attempting to address

July 2013 / Volume 11, No. 2

FOCAL POINTS FOR THE COMMERCIAL USE OF SOCIAL MEDIA

A recent survey by the Pew Research Center revealed that more than two-thirds of online adults now use one or more social networking outlets.  LinkedIn alone enjoys over 150 million users...

CONDOMINIUM UNIT FORECLOSURES – PROTECTING THE ASSOCIATION

When a lender forecloses on a condominium unit within a condominium building, it also impacts the Condominium Association and the other unit owners in the building. 

March 2013 / Volume 11, No. 1

EEOC GUIDANCE ON CRIMINAL BACKGROUND CHECKS

Based on recent pronouncements by the U.S. Equal Employment Opportunity Commission (“EEOC”), businesses that conduct criminal background checks...

WHEN IS A CONTRACT TERMINABLE?

With the possible exception of a diamond, nothing lasts forever.  This is especially true with contracts and contractual relationships, even when the...