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Stay informed with Lexern’s blog covering estate planning, trusts, wills, probate, asset protection, and family legacy planning.

New Overtime Pay Rules: What it Means for Salaried Workers

By |2024-05-02T13:17:53-05:00May 3rd, 2024|Blog, Business Law, Business Structure, Compensation, Employment Law, Federal Law, Hiring Practices, Small Business|

Overtime pay rules have gotten some updates. If you’re a salaried worker in the United States, there’s some important news you should know about the changes to overtime pay rules and eligibility. The US Department of Labor recently announced a final rule that will make millions more workers eligible for overtime pay. Here’s what [...]

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Irrevocable Grantor Trusts: IRS Ruling May Affect Your Estate Plan

By |2024-04-25T09:47:43-05:00April 26th, 2024|Blog, Estate Planning, Estate Planning|

Irrevocable Grantor Trusts (IGTs) have been a popular tool for estate planning. They help you reduce estate taxes, avoid probate, and distribute assets according to your wishes. But a new IRS ruling (Revenue Ruling 2023-2) throws a wrench into things. Let's break down what this means for you. What are Irrevocable Grantor Trusts (IGTs)? [...]

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Spring into Action: 7 Reasons to Start Estate Planning Now

By |2024-04-18T11:27:59-05:00April 19th, 2024|Blog, Estate Planning, Estate Planning, Tips|

Reasons to start estate planning this Spring are all about getting a fresh start! Spring has sprung! The birds are chirping, flowers are blooming, and there's a fresh sense of renewal in the air. It's the perfect time to tackle that spring cleaning list, but what if we told you there's an even more [...]

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Trust vs Will: How an Estate Planning Attorney Can Help

By |2026-04-21T12:53:03-05:00April 12th, 2024|Blog, Estate Planning, Estate Planning, Tips|

Trust vs Will: Which Estate Planning Strategy is Right for You? When it comes to securing your family’s future, the debate of trust vs will is one of the most critical conversations you can have. Many people mistakenly believe that estate planning is only for the ultra-wealthy, but the reality is that anyone with [...]

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What is a Spousal Lifetime Access Trust (SLAT)?

By |2024-04-05T09:16:57-05:00April 5th, 2024|Blog, Estate Planning, Estate Planning, Tips|

A Spousal Lifetime Access Trust (SLAT) may be a tool that you need in your estate planning to stay ahead of taxes. In the world of estate planning, the landscape is ever-changing, with tax laws and regulations in constant flux. Recent proposals to alter federal estate and gift tax exemptions serve as a stark [...]

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Preserving Generational Wealth with Estate Planning

By |2024-03-28T10:01:47-05:00March 29th, 2024|Blog, Estate Planning, Estate Planning|

How do you preserve generational wealth? In today's fast-paced world, where financial stability and security are paramount concerns, building generational wealth has become a significant goal for many families. Generational wealth isn't just about accumulating riches for oneself; it's about ensuring that those assets are preserved and passed down to future generations. At Lexern [...]

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Leveraging Life Insurance in Estate Planning

By |2024-03-21T09:44:57-05:00March 22nd, 2024|Blog, Estate Planning, Estate Planning, Tips|

Life insurance in estate planning is a crucial aspect of financial management often overlooked or delayed by many individuals. Yet, it holds significant importance in securing the future for your loved ones and ensuring your assets are distributed according to your wishes. Among the myriad tools available for estate planning, life insurance stands out [...]

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Making Your Estate Plan Tax Efficient

By |2024-04-15T10:56:36-05:00March 15th, 2024|Blog, Estate Planning, Tips|

Making your estate plan tax efficient may not be in the forefront of your mind when it comes to thinking about your legacy. But with the right planning, you'll be able to make your estate plan tax efficient, saving your assets for future generations. Estate planning is not merely about passing on your assets; it's [...]

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Updates to Severance Agreements by the NLRB

By |2024-03-07T10:11:56-06:00March 8th, 2024|Blog, Business Law, Business Structure, Compensation, Employment Law, Small Business|

Are severance agreements dead? The value of those agreements for employers will be significantly less if employees are free to disparage employers after being paid. Update to Employee Severance Agreements by The National Labor Relations Board (NLRB) In recent years, the landscape of employee severance agreements has undergone significant scrutiny and adjustment, particularly with [...]

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New Rules for Independent Contractor Classification

By |2024-03-04T11:32:46-06:00March 1st, 2024|Blog, Business Law, Business Structure, Compensation, Employment Law, Hiring Practices, Illinois State Law, Small Business|

Understanding the U.S. DOL's New Rule on Independent Contractor Classification The landscape of worker classification in the United States has seen significant shifts over the years, with legal interpretations and regulations evolving to adapt to changing economic realities. One of the pivotal areas in this arena is the classification of workers as either independent [...]

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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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