Estate Law, Business Law, Real Estate Law Attorneys in IL, PA & NJ

Yes. Estate planning is not just for wealthy individuals. Creating a will is more than outlining how assets or money are divided. You can also include important health directives, final wishes, and name guardians for minors. This information is helpful to family members, eliminating the pressure of having to make difficult decisions on your behalf. If you pass away without a will, intestacy laws apply. Your estate goes to probate, and a judge decides everything, including who receives benefits. The ruling may not align with what you wanted, leading to disputes between family members.

Additionally, you can establish a power of attorney in your estate plan. This individual is granted the authority to make decisions on your behalf if you become incapacitated, including after an accident or unexpected health issue.

The average length of time the probate process takes to complete is 6-12 months. However, there are several factors that can impact this timeline. If the person died without a will, probate will take longer. The judge will need to decide how to distribute the estate based on the state’s intestacy laws. Complicated estates, like those with lots of investments, properties, or complex assets, can also extend the probate process. Other issues, like family disputes or a contested will, can result in delays.

To avoid a lengthy probate period, proper estate planning is essential. By working with our attorney, we can help you create legally-binding documents, including wills, powers of attorney, and healthcare directives. These estate planning tools make the probate process more seamless and reduce the chance of family disputes.

Buying a business is a big decision. Consulting with our business purchase lawyer first is wise. We will handle the due diligence process where our attorney checks the business’s financials, legal status, and operations. Important factors that should influence your decision to buy include:

• Liabilities, like loans and debts
• Asset valuations, including equipment, property, and inventory
• Financial statements and tax returns
• Compliance reports
• Market position, including competition, current customer list, and workflow

A critical question to consider is why the owner is selling the business. Whether it is to enjoy retirement or a strategic move, understanding the owner’s motivations may point to the viability and sustainability of the business.

When a dispute arises between businesses, it is resolved through commercial litigation. These issues usually involve disagreements between shareholders, breach of contract, and intellectual property infringement. Our commercial litigation attorney can represent your best interests during these conflicts. From defending against accusations and building your case to negotiating a solution and arguing in court, our business lawyer will support you through every step of the legal process.

Not if the trust is set up properly. Special needs trusts are designed to protect the assets of people with disabilities. Distributions are meant to supplement government assistance benefits like Social Security and Medicaid. Usually, trust payments are used for education, social activities, travel, and other non-essential expenses.

To avoid a disruption of SSI or Medicaid benefits, it is essential to work with our special needs trust attorney to structure the trust correctly. We can make sure that distributions are accurately recorded and reported. Our lawyer will also confirm that trust distributions do not exceed the income limits to receive government assistance. Our trust attorney can also explain how and when distributions should be given and warn against problematic instructions, like giving the beneficiary direct cash deposits or using the trust to pay for food or shelter.