In an effort to track down financial fraud, the Financial Crimes Enforcement Network (FinCEN), an agency of the Federal government, has imposed new reporting requirements of most corporations and entities. The rule requires companies to file what is known as a “BOI...
In today’s housing market, when you find a house that you love, the temptation is to rush to sign the contract to ensure you don’t lose the property you fell in love with. However, there are important details any buyer should consider. Some of these items can have a...
As an agent for someone under a Power of Attorney in Illinois, you are generally entitled to collect a fee for the services that you provide. Managing someone’s assets when they have trouble managing them on their own can be an expensive and time consuming job,...
Congratulations! You have formed your own business, choosing the limited liability company as its corporate structure. With hard work, skill, and dedication, your new business is sure to go places. Now you are hearing about something called an “operating agreement”;...
Senate Bill 208, also known as the Paid Leave for All Workers Act, will affect both employees and employers throughout Illinois. On its face, the idea of the Act appears simple: for every forty hours that an employee works, employers are required to approve one hour...
Buying a home is an exciting and risky process. A large amount of money is at stake for both parties and the buyer relies on the seller to be forthright. Thus, if a new homeowner discovers a defect in a home after closing the sale, it can be difficult to know how to...
When someone creates or modifies a will to leave their wealth to a beneficiary whom family or friends find suspicious, an interested person may file a petition contesting the will in Illinois state court within six months after the will was admitted for probate after...
Being asked to join a new or existing business is always an exciting prospect. You’ve been invited to contribute to something that could be great, bringing with it all the financial success and the pride that comes with knowing you contributed to its success. But...
Article 4A of the Illinois Uniform Commercial Code (UCC) provides rights of a customer and obligations of a bank regarding fund transfers.[1] In the 2020 case, Whitaker v. Wedbush Securities, Inc., the Illinois Supreme Court addressed what type of institution...
Although commercial and residential leases are similar in structure, the protections surrounding commercial tenants can be limited under the law. One major protection awarded to residential tenants in Illinois is the Security Deposit Return Act. 765 ILCS 710/0.01 et...
