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Montgomery Special Needs Estate Planning: Special Needs Attorney in Kendall County, IL

 Posted on February 02, 2023 in Estate Planning

Montgomery Special Needs Attorney

People with disabilities and their households in Montgomery and Kendall County, Illinois, must understand what government benefits are available to them and how those programs are affected by a range of other financial considerations, such as employment. They should also plan for and safeguard their loved one's care and assets to ensure their loved one's future security.

A special needs trust is an ideal choice for those who want to offer financial assistance to a loved one, and it should be considered part of everyone's will or trust. A special need trust not only safeguards disabled loved one at that moment the will or trust is executed, but it is also beneficial if a loved one who was not handicapped at the time the will or trust was made subsequently becomes disabled.

Having legal assistance on your side who knows the subtleties and legislation that affect people with special needs in Montgomery and other areas of Kendall County, in addition to the benefits they may be eligible for, might be critical to the success of a special needs’ estate plan. Gateville Law Firm's special needs estate planning attorneys will assist you in developing a plan that will enrich and encourage your special needs children.

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Oswego Lawyer for Sale of Commercial Property

 Posted on February 02, 2023 in Real Estate

Attorney for Commercial Real Estate Sales in Oswego and Kendall County

At Gateville Law Firm, we have the expertise and passion for commercial real estate to assist you in commercial legal matters involving purchasing or selling commercial real estate property. We are your Oswego Commercial Real Estate Purchase Agreement Lawyers specializing in sales and purchases of commercial real estate transactions. Commercial real estate transactions require precision and expertise. Our attorneys and real estate team have a solid real estate background with over 50 years of experience. Our real estate team will address the critical issues while protecting your commercial interests. 

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Oswego Special Needs Estate Planning: Special Needs Attorney in Kendall County, IL

 Posted on February 01, 2023 in Estate Planning

yorkville estate planning lawyerPeople with disabilities and their families in Oswego and other areas in Kendall County, Illinois, must understand what government benefits are available to them and how those benefits are affected by several other financial conditions, such as employment, for example. They must also plan for and preserve their loved one's care and assets in order to ensure their loved one's future is not in jeopardy.

A special needs trust is an excellent choice for individuals who want to assure the financial assistance of a loved one, and it ought to be included in everyone's will or trust. A special need trust not only protects a loved one who is disabled at the stage the will or trust is executed, but it is also beneficial if a loved one who was not disabled at the time the will or trust was executed unfortunately becomes disabled later.

Having a legal professional by your side who properly knows the subtleties and legislation that affect people with special needs in Oswego and other areas in Kendall County and the benefits they may be eligible for can be critical to a successful special needs estate plan. Peace of Mind Asset Protection, LLC's special needs estate planning experts can assist you in creating a plan that will improve and encourage your children with special needs.

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Shorewood Commercial Real Estate Lawyer: Real Estate Tips for Buying Multi-Unit Apartments

 Posted on February 01, 2023 in Real Estate

yorkville real estate lawyerShorewood Commercial Real Estate Attorney Serving Buyers and Sellers of Commercial Real Estate Properties in Shorewood, Joliet, and Plainfield

Investing in large apartment buildings requires precision and patience. Investing in multi-unit apartment buildings requires an experienced group of business and legal advisors. We will discuss real estate tips for purchasing and selling multi-unit apartment complexes.

A. Researching the Market is Important

Multi-unit real estate investing requires market research to lower one's risk profile. A significant goal of a commercial real estate investor is quality tenants and low occupancy rates. Negative cash flow creates unnecessary risks, which cause substantial financial strife. Negative cash flow occurs when one's expenses exceed their revenue. Your research methods should include the following:

  • Economic Research. Research economic and job trends, including whether the area is stable or upcoming.

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Manager-Managed LLCs: What Are They?

 Posted on January 30, 2023 in Business Law

yorkville LLC lawyerWhat is an LLC?

An LLC is a company that combines the personal asset protection of a corporation with the tax advantages of a partnership. Its members own an LLC (think shareholders in a corporation), and LLCs may be Member-managed or manager-managed. In a Member-managed LLC, the Members (or owners) of the company control the day-to-day activities of the company. 

Manager-Managed LLCs in Illinois

According to 805 ILCS 180/15-1, an LLC is Member-managed unless the Articles of Organization or Operating Agreement specifically state otherwise. Therefore, if an individual or member wants to create a manager-managed LLC, they must state their management preference in their Operating Agreement. At Gateville Law Firm, we are Kendall County LLC Attorneys for start-up companies and established business enterprises.

Members of an LLC

One of the most critical questions when forming an LLC is whether to set-up the LLC as a manager-managed or Member-managed LLC. In the context of LLCs, managers and members are vastly different and play different roles in the LLC. A Member holds a Membership interest in the LLC. Another word for “Member” in the context of an LLC is an “owner.” The members of an LLC are like shareholders in a corporation. Members of an LLC own the equity of the LLC but may or may not play a management role in the business. The members may be passive owners meaning that employees and managers get paid to run the day-to-day operations of the LLC. The LLC members are disclosed at the "Articles of Organization formation phase."  The Articles of Organization is the term called by the Secretary of State when one incorporates an LLC. Generally, the LLC Operating Agreement requires members to ratify new members and managers. 

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Oswego African-American Lawyer: Estate Planning Strategies for African American-Empowerment

 Posted on January 30, 2023 in Estate Planning

yorkville estate planning lawyerAfrican-Americans need real estate asset protection planning in Oswego and Kendall counties to secure, transfer wealth, and empower future generations. 

Introduction

African-Americans are one of the most critical racial minorities today in the United States. The life, wealth, prestige, and success that the American society enjoys today were built on the shoulders of slavery, a burden borne singlehandedly by the forebears of the African-American racial minority. So, it is grossly unfair that even in the 21st century, African Americans continue to be shortchanged and lag in accessing/maximizing the resources for wealth building. While much of the blame can be placed on the socioeconomic and political doorsteps of a highly racist system in the past, a cultural lack of estate planning initiatives among African-Americans is a significant barrier hindering socioeconomic empowerment across successive generations.

But I Don’t Have an Estate: The Meaning of Estate Planning

When estate planning is mentioned, one of the most rampant misconceptions among many people, mainly from the ethnic minority pool, is, "I don't have an estate; why should I plan?" This mindset typically stems from the belief that estates are only for the wealthy and not the average individual. But this is a misconception, not the reality.

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Oswego Business Asset Protection & Estate Planning 

 Posted on January 26, 2023 in Asset Protection & Wealth Preservation

yorkville asset protection lawyersAsset protection in Oswego is only possible if business owners engage the right Oswego estate planning attorney to protect their estate and assets. 

A Case for Asset Protection and Estate Planning

Every human being tend to have an estate. Your estate includes everything you own: be it your businesses, investments, your home or other form of real estate, furniture, a car, personal belongings, life insurance, savings, and checking accounts; just name it. We all have an estate, no matter how small or large, old or new. And one thing is certain—you can't take it with you when death calls.

That is where asset protection and estate planning come in.  

What is Asset Protection and Estate planning?

Asset protection and estate planning are proactive steps people take to protect their estate and control how the possessions constituting their estate would be shared among their loved ones (or designated organizations) after their death or when they become incapacitated, as the case might be.

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What is a Joint Venture and Is It Appropriate for You?

 Posted on January 26, 2023 in Business Law

Yorkville Joint Venture Attorney

Yorkville Joint Venture Attorney

A joint venture is a business agreement where two or more persons enter a business relationship to invest in a real estate project or investment. The goal of the joint venture is to make profits and losses on a project. The general idea of a joint venture is to reduce the risks of the parties because the parties pool resources, expertise, and investment resources. One of the major benefits of a joint venture is the ability to finance larger real estate ventures and maximize one’s resources by investing with other members or owners.

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Sandwich Business Start-Up Attorney

 Posted on January 25, 2023 in Business Law

yorkville business lawyerEntrepreneurship and business start involve preparation, dedication, and precision. Attorney Sean Robertson is a serial entrepreneur, business advisor, and high-growth coach that assists Sandwich Start-Ups and Small Businesses with their growth, tax planning, and business asset protection goals. Building a successful business is risky and the smartest business owners surround themselves with experienced, entrepreneurial business advisors and lawyers.

Sandwich Business Growth Lawyers: Business Structure and Asset Protection Planning

Our entrepreneurial entrepreneurs are dedicated to our Sandwich business owners, franchise, owners, and entrepreneurs. As serial entrepreneurs and business growth attorneys, we understand the legal risks involved with setting up and operating a business in Sandwich, Illinois. Wisdom is obtained through trials and tribulations, which involve great pain and sacrifice. Smart entrepreneurs understand that their success often requires them to surround themselves with successful and smart entrepreneurial advisors. Wisdom is acquired by mistakes, which produce pain and agony. The pain and agony resulting from mistakes often result in thousands of dollars in lost revenue and opportunities. Eventually, these trials and tribulations produce wisdom and understanding. 

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Plano Business Sale Attorney: Choosing the Best Method for the Purchase or Sale of a Business

 Posted on January 24, 2023 in Business Law

Plano Business Sale Attorney

Plano, Illinois Purchase and Sale of Business Attorney

Many considerations need to be made before choosing the best method for the purchase or sale of a business. Both parties want to make sure they have as few headaches as possible. To make this happen, it is crucial to know the make-up of the business and whether the Buyer is looking to purchase the whole business or only particular assets. Based on these answers, the Buyer and Seller can choose the best method to ensure the sale goes through smoothly. Three different methods can be used for the purchase and sale of a business. These three methods are a Merger, an Asset Purchase, and a Stock Purchase. Here, at Gateville Law Firm, we are Plano Il LLC and Business Attorneys assisting entrepreneurs, business owners, and franchise owners with their legal needs.

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