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Success of Your Business Often Depends on Your Exit Strategy

By |2026-06-28T10:39:03-05:00April 3rd, 2017|Business Structure, Business Law|

Recently, I received a phone call from a good friend of mine, telling me that he is going through a divorce. Although he was expecting an amicable split of his liquid assets and share custody of his minor children, he could not say the same about his business ownership. My client’s divorce is now at risk [...]

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AN ANTICIPATED IMPACT OF A TRUMP PRESIDENCY ON M & As

By |2026-06-28T10:06:45-05:00December 15th, 2016|Blog, Business Law, Business Structure|

How will a Trump presidency impact M & As. Donald Trump is set to become the nation’s 45th president when he is inaugurated on January 20, 2017. A Trump presidency promises to bring big changes - for better or worse. He has vowed to bring jobs and businesses back to the United [...]

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New Paid Sick Leave Ordinance in Cook County

By |2022-10-05T14:04:02-05:00November 10th, 2016|Blog, Business Structure, Employment Law|

On October 5, 2016, Cook County, Illinois joined the growing list of jurisdictions across the country to pass a paid sick leave ordinance, following what’s becoming a popular trend across the country, not only in the Midwest, but nationwide.  Previously, the city of Chicago, located in Cook County, also passed a similar ordinance in [...]

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How to Facilitate a Buy-Sell Agreement

By |2021-01-28T21:12:47-06:00September 15th, 2016|Blog, Business Structure|

Businesses usually start with best intentions and under the best of circumstances. However, down the road many life events and business challenges occur that change business owners, their relationships, and goals. It’s essential, therefore, for most new businesses to begin with a discussion of a buy-sell agreement. A typical buy-sell agreement functions in the same [...]

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Is a Business Sale in Your Future? Six Steps to Take Now

By |2021-01-28T21:12:32-06:00September 14th, 2016|Business Law, Business Structure, Uncategorized|

The past few years have seen an increase in small to middle-sized business sales. The economic forecast suggests that this trend will continue.  If you are considering a business sale, it’s vital to understand the selling process and prepare your business for the contemplated sale well before you try to put your business on the [...]

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Is Your Business Partner Stealing?

By |2026-06-28T10:37:58-05:00August 25th, 2016|Blog, Business Law, Business Structure, Uncategorized|

Everyday companies form and business partners come together with the best of intentions and hopes. Often things begin smoothly but trouble rears its ugly head down the road. If you have formed a company and have a business partner, it’s devastating to find your trusted partner stealing from you. If you find yourself in [...]

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Three Action Steps to Take to Mitigate Legal Risks This Year

By |2021-01-28T21:09:59-06:00January 8th, 2016|Blog, Business Law, Business Structure|

First of all, we would like to wish you a happy, healthy, and productive new year.  As 2016 quickly gets underway, I'm sure you've been thinking of ways to become more efficient and successful this year. Yet, this year promises to be challenging in many respects.  Many consumers will continue to struggle to get their [...]

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Ruling Confirms Limited Liability Companies Value as a Business Form

By |2021-01-28T20:58:21-06:00April 22nd, 2014|Business Law, Business Structure|

A recent ruling confirms Limited Liability Companies value as a business form. In a recent decision by the Illinois first District Appellate Court, it was affirmed that the sole member of a Limited Liability Company (“the LLC”) could not be held personally liable for fraud while acting as managing member of the LLC.  In Dass [...]

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Illinois: Low-Profit Limited Liability Companies – What You Need to Know

By |2021-01-28T21:00:17-06:00September 4th, 2011|Blog, Business Structure|

Recently, Illinois became one of the states to permit formation of low-profit limited liability companies (often called “L3Cs”), by adopting 805 ILCS 180/1-26, as added by P.A. 96-126 (the “Act”).  The main advantages of L3Cs are their tax treatment and flexibility generally associated with the limited liability companies.  Unlike traditional not-for-profit entities, L3Cs do not [...]

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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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