Probate Tips to Remember

September 04, 2018

When one reaches the point in life to begin estate planning, it should be approached with a certain mindset. As you begin to make future plans for your assets and personal care, there are a number of factors to consider. Estate planning attorneys in Chicago at Anthony J. Madonia & Associates will walk you through… Read more »

Employee Rights: What You Need to Know

August 30, 2018

Many employees underestimate their legal rights in the workplace. Though it’s true that employers enjoy tremendous leverage over employees in terms of career advancement, pay, and job security, state and federal law recognize that employees must enjoy certain rights. These rights arise from statutes as well as contracts. For more information on employee rights in… Read more »

Gifting Your Property? What Taxes to Expect

August 17, 2018

Currently, lower estate prices make it a great time to gift a home to your children. This allows them to obtain the property now, which it’s still valued low, and benefit from its increased value, as the market improves. If this sounds like an attractive plan for you, visit our experienced estate planning attorneys in… Read more »

Should an Attorney Look Over My Contract?

August 02, 2018

If you are a small business owner, there are many important factors that will help to determine the success of your organization. One of the most important factors is whether or not you are able to enter into quality contracts. For those that are looking to enter into new contracts for their business, getting legal… Read more »

Business Mergers: What You Need to Know

July 20, 2018

Business mergers are one of the most stressful parts of running a company. You need the right tactics and guidance if you are going to pull it off successfully. If you don’t, you could put your company in jeopardy. What You Should Know About Mergers  Business mergers are not like regular business transactions. They are… Read more »

3 Keys to Managing Business Finances

July 06, 2018

When it comes to running your business, finances are the most important aspect. They dictate how much you can invest regarding opportunities, who you can hire, and how much profit you have at the end of the day. However, you need to understand the three major keys of business finances to avoid losing out on… Read more »

Why Setting Goals Is Necessary in your Business Plan

May 16, 2018

Every successful company starts with a good idea. These ideas are expressed in goals that you set and carry out on paper. Your business plan is the document that you need to get started. See how important it is to develop this plan correctly and using the help of a legal professional. Define Goals in… Read more »

Can I Buy the House Back From the Trust After it Ends So That My Kids Can Still Get the Capital Gains Benefit?

September 01, 2017

A QPRT may allow for the sale of the residence during its term. In addition, the trustee of the QPRT may hold the sales proceeds as long as the proceeds are held in a separate account. However, the residence may not be sold to the grantor, the grantor’s spouse, or any entity controlled by the… Read more »

What if I Survive the Trust Term?

August 30, 2017

If you are still living at the end of the term, you will have accomplished the goals of this planning strategy. Your children in our example (or trusts for their benefit) are now the owners of the house. However, you do not have to move out. To assure that you have a place to live,… Read more »

Are There Any Disadvantages to a Qualified Personal Residence Trust?

August 28, 2017

If you live to the end of the specified period, the residence, including all post-gift appreciation, passes to the children free of any additional federal estate or gift taxes. However, one disadvantage is that if you die before the end of the period, the value of the residence, as of the date of death, will… Read more »