Now Paid On Time Isn’t Good Enough

Paying your mortgage on time apparently now isn’t good enough for one of the country’s largest mortgage lenders-GMAC. Surprisingly, with all the problems mortgage lenders have with loans that are not being paid GMAC has time to make threatening collection calls to its borrowers who are paying on time.The standard residential loan and mortgage state that payments are due on…read more →

Do It Yourself Estate Planning

In a time when everybody is trying to save money is estate planning software a good way to save money? That is a “loaded” question. Certainly using estate planning software is cheaper than hiring an attorney. But is it a good solution? Will the software create the documents that accomplish your wishes? A New York Times writer tested several different…read more →

Payroll Taxes – A Personal Liability Trap

Recently, I was speaking with a very successful small business owner who almost stepped into a payroll tax trap. The business owner wanted to give a bonus to a key employee. The business owner, who uses a payroll processing company, thought that it would be okay to write the bonus check out of the business checking account. However, the business…read more →

Estate Planning – Frequently Asked Questions

If you have basic questions about estate planning, but are unsure about the reliability of information that you find on the Internet, here is a reliable resource. The Chicago Estate Planning Council Frequently Asked Questions. Disclaimer This is a passive blog and the materials contained herein are provided for informational purposes only. Nothing contained in this blog should be interpreted…read more →

Advice for New Business Owners

The Wall Street Journal published an article titled 10 Mistakes That Start-Up Entrepreneurs Make. Rosalind Resnick made some good points. In my experience representing new businesses, the ones that failed made one and often several of the mistakes listed in the article. The successful businesses made few if any of these mistakes. The article also contained links to related articles…read more →

Employee Credit Checks Banned Effective January 1, 2011

Employers will be prohibited from doing credit checks on prospective employees under a new Illinois law. The new law that was just signed by Governor Quinn will be effective January 1, 2011. There are a few exceptions for employers in the banking and insurance industry and those dealing with trade secrets. Here is a link to a Chicago Tribune article…read more →

Springfield Believes in the Fountain of Youth for New Senior Citizen Property Tax Exemption

Our elected officials in Springfield apparently believe in the Fountain of Youth when they passed the residential property tax law that requires senior citizens to re-apply every year for the senior citizen exemption. Thats right when you turn 65 and apply for your senior citizen property tax exemption, you will need to re-apply for the next year. Using normal arithmetic,…read more →

Making a Power of Attorney for Health Care More Useful

On March 26th, I wrote about the importance of having Powers of Attorney for Property and Health Care. Today, I am continuing that story to mention a service that can make a Power of Attorney for Health Care more useful. That service is called DocuBank. It provides a card the size of a credit card. The card contains your name,…read more →

Powers of Attorney – Estate Planning Basics for Everyone

Everyone, young and old, from an eighteen year old high school senior to an eighty year old retiree need Powers of Attorney for Healthcare and Property. Briefly, a Power of Attorney authorizes someone to act on your behalf for either financial matters (Property Power of Attorney) or health care decisions (Health Care Power of Attorney) Powers of Attorney are not…read more →