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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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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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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High Risk Professionals Need an Estate Plan

By |2022-06-16T02:42:25-05:00April 29th, 2022|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

Everyone is open to potential lawsuits, but licensed professionals and business owners are even more at risk. Doctors, dentists, veterinarians, small business owners, and even attorneys themselves, have a higher risk of being sued and need more extensive estate planning to protect all they’ve worked for. So while it’s important for everyone to have an [...]

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Challenging Scenarios a Buy-Sell Agreement Prevents

By |2022-06-16T02:43:54-05:00April 22nd, 2022|Blog, Business Law, Business Structure, Employment Law, Estate Planning, Estate Planning, Small Business, Tips|

A buy-sell agreement prevents things from becoming complicated when a co-owner of a business leaves and shouldn’t only cover planned exits. There are many scenarios in which things can go south between owners or an emergency arises. Numerous disasters can arise on the back end of a business partner leaving the business. Here are a [...]

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