Updates to Overtime Pay Employers Should Know

By |2023-06-20T15:53:08-05:00June 30th, 2023|Blog, Business Law, Business Structure, Employment Law, Federal Law, Hiring Practices, Small Business|

There have been updates to overtime pay that employers should know based on a recent case ruling that has implications for employers and high-earning individuals. On February 22, 2023, the United States Supreme Court made a significant ruling, stating that employees earning over $200,000 annually are entitled to overtime pay under the Fair Labor Standards [...]

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Estate Planning for Family Businesses

By |2023-05-18T09:47:38-05:00May 19th, 2023|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

As a family business owner, you've worked hard to build a successful enterprise that reflects your family's values and legacy. However, as you approach retirement, it's important to plan for the future of your business and ensure a smooth transition of ownership and management to the next generation. Estate planning for family businesses can [...]

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Top Estate Planning Strategies for Business Owners

By |2023-05-11T11:06:46-05:00May 12th, 2023|Blog, Business Law, Estate Planning, Estate Planning, Small Business|

Estate planning strategies for business owners should consider both your professional and personal goals. As a business owner, you have likely invested a considerable amount of time, effort, and resources into building your company and accumulating wealth. However, without proper estate planning strategies in place, much of that wealth may be lost or subject [...]

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Successful Business Succession Planning in 5 Steps

By |2023-03-16T10:46:52-05:00March 17th, 2023|Blog, Business Law, Business Structure, Estate Planning, Small Business|

Successful business succession planning is an essential part of ensuring the long-term success of any business. It's important to take the time to make well-informed decisions when it comes to your succession plan. A successful business succession plan includes identifying and preparing a successor to take over the leadership of the company when the [...]

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Minimizing Conflict When Exiting a Business

By |2023-03-02T10:29:03-06:00March 3rd, 2023|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business|

Minimizing conflict when exiting a business is always the main goal of an exit strategy. From choosing the right successor, to avoiding other challenges that come with succession planning, minimizing conflict goes hand in hand with an effective plan. Learn how to keep your business running smoothly, even after you're gone. Even if you [...]

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How to Choose the Right Successor for Your Business

By |2023-02-23T10:12:51-06:00February 24th, 2023|Blog, Business Law, Business Structure, Estate Planning, Small Business|

How to choose the right successor for your business means having the right process and plan for your business. You don't typically go into business considering how you'll exit that business, but starting your succession plan early can help you with the best plan for how to choose a business successor. Giving yourself time [...]

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Challenges of Business Succession Planning

By |2023-02-16T10:19:26-06:00February 17th, 2023|Blog, Business Law, Business Structure, Estate Planning, Small Business|

Challenges of business succession planning shouldn't keep you from having a plan for your business. A bad business succession plan is a plan that fails to effectively transfer ownership or management of a business from one generation to the next. Business succession planning is crucial for the long-term success of a company, as it [...]

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Selling a Family Business

By |2023-02-09T11:16:50-06:00February 10th, 2023|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business|

Selling a family business isn't always an easy process... You've worked hard to build your business, or to keep the family business you've been handed going, but what happens when it's time for the next generation to take over? A family business, no matter how long it's been in the family, has sentimental value [...]

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New Employment Laws You Should Know for 2023

By |2023-02-02T09:53:55-06:00February 3rd, 2023|Blog, Business Law, Employment Law, Small Business|

New year means new employment laws for 2023! If you are a business owner, now is the time to take a look at the new laws that went into effect at the beginning of the year. Here is a quick rundown of the laws you should know.  Minimum Wage Minimum wage in Illinois has [...]

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Recession Proof Your Business

By |2022-08-04T16:06:15-05:00August 12th, 2022|Blog, Business Law, Small Business|

It seems that small businesses are always hit first and hardest during tough economic times. With rising prices, interest rates, and increasing supply chain shortages, it can be hard to stay confident in how we run our businesses. So, as an increase in inflation puts pressure on demand for our products and services, how [...]

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