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Lexern Law Group helps small business owners protect their company, manage legal risks, and plan confidently for future growth.

Four Reasons Your Business Needs a Buy-Sell Agreement

By |2022-06-16T02:49:55-05:00April 1st, 2022|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business|

No matter what the set up of the ownership of the business is, at some point it’s inevitable that an owner will leave. Retiring, changing careers, emergencies, or death, are all events to be prepared for. Having a plan ahead of time will keep operations running smoothly and keep every shareholder protected. A buy-sell agreement [...]

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How Do I Include My LLC in My Estate Plan?

By |2022-03-03T17:18:15-06:00March 25th, 2022|Blog, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

You’re always looking for ways to make your business better, but are you making sure your business is also protected? If your business has been established as an LLC, or Limited Liability Company, there are ways to transfer your assets to the next generation through your estate plan. Here’s how to include your LLC [...]

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Protecting Your Business with a Buy-Sell Agreement

By |2022-03-02T21:51:36-06:00March 18th, 2022|Blog, Business Structure, Employment Law, Estate Planning, Estate Planning, Small Business, Tips|

If a business has multiple owners, eventually a change in ownership will need to happen. An owner will retire or move on for another reason. Don’t forget that emergencies can also happen. Changing ownership doesn’t need to be complicated. Planning ahead will help dispel disaster when the time comes for a transition. The plan [...]

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When to Update Your Succession Plan

By |2022-02-10T20:23:57-06:00March 11th, 2022|Blog, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

Updating your business succession plan should be a regular part of managing your business. We previously wrote about common succession planning mistakes that are made and one of the biggest mistakes that needs to be highlighted is not updating your succession plan regularly. Like your estate plan, your business succession plan is not set [...]

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Mistakes to Avoid When Business Succession Planning

By |2026-06-28T11:45:12-05:00March 4th, 2022|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

As a business owner, you probably feel that your business is your baby. Business succession planning always seems so far off. It’s hard to think about what may happen to your business when you’re no longer able to run it. To ensure your business will keep running once you leave it, or to get [...]

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If You Own a Business You Need to Read This

By |2021-05-26T15:01:03-05:00May 21st, 2021|Blog, Estate Planning, Estate Planning, Small Business, Tips|

Estate Planning for Business Owners Business owners have so much going on that estate planning is usually at the bottom of this list. You work so hard to build your business and to keep it running successfully, the to-do lists are endless. But one task you should have on your list is completing your [...]

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WHERE TO KEEP YOUR IMPORTANT DOCUMENTS?

By |2018-06-19T05:26:20-05:00June 19th, 2018|Estate Planning, Small Business, Tips|

Our clients often ask us where to keep their important documents, such as estate planning documents (wills, trusts, and powers of appointment), insurance policies, contracts, and other important financial documents.  The answer to this question often depends on how quickly you need to gain access to such documents.  For instance, without the requisite power [...]

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Illinois Reduces Its Limited Liability Companies’ Filing and Reporting Fees

By |2021-01-28T21:10:06-06:00December 22nd, 2017|Business Law, Small Business|

Good news!  On December 20th, the Illinois Governor Bruce Rauner signed SB 867 into law, reducing Illinois' excessive limited liability company's (LLCs) filing and maintenance fees. This law went into effect immediately upon signing, i.e. December 20, 2017. Although Illinois has a long way to go to make this state attractive for small businesses [...]

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When was the last time you talked to your parents about their estate planning needs?

By |2021-05-16T07:52:00-05:00November 20th, 2017|Uncategorized, Estate Planning, Small Business|

The holidays are quickly approaching and many of you will have a chance to see your parents and, for some of you, your grandparents.  This would be an excellent opportunity to discuss your parents’ future and estate planning needs among the loved ones.  Yet, discussing the retirement plans and estate planning needs with your [...]

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How Well Are You Prepared to Manage Your Business Risks?

By |2021-01-28T21:10:05-06:00November 19th, 2017|Uncategorized, Estate Planning, Small Business|

Every small business owner is faced with various business risks, whether related to an injury, theft, damage to property, employee discrimination claims, or liability suits.  As much as you plan for success, as a business owner, you must have these risks on your radar.  You should be prepared if and when they materialize. What [...]

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The Lexern Law Group, Ltd. is an Illinois and Wisconsin business and estate planning law firm, located in Libertyville, Lake County, Illinois. We primarily serve clients that are located in Northeastern Illinois and Southeastern Wisconsin, including Libertyville, Lake Forest, Vernon Hills, Buffalo Grove, Glenview, Wheeling, Palatine, Northbrook, Lincolnshire, Grayslake, Arlington Heights, Kildeer, Schaumburg, Gurnee, Deerfield, Deer Park, and Barrington areas. In Wisconsin, we serve clients in Milwaukee, Racine, Kenosha, and Mequon counties. We represent business owners and licensed professionals, such as doctors, dentists, veterinarians, and their families in business, business succession, and estate planning matters.

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