The handling of small estates has always been problematic. The probate process is not quick, or easy or cheap. The probate process can particularly be a burden on small estates. For years, the State of Illinois has provided an alternative mechanism for handing small estates, but the limitations excluded many estates that might otherwise qualify, making it…
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When people are in love, they are not usually preoccupied with death; they are focused on living. Second marriage situations, however, present issues that should be discussed and addressed, especially when there are children from a first marriage. Whether the second marriage follows a divorce or the death of a spouse, careful consideration of estate…
DetailsAesop had a good thing going. He had a great family, owned his own home and was operating a small, but successful, construction business doing home additions. Based on a radio advertisement for do-it-yourself, legal work, he decided he should incorporate. The ad said it would protect him from liability. Aesop followed the instructions and…
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Most people who begin a business choose either the corporate form of business or the LLC (limited liability company) form of business. Both forms of business provide protection for the owners against business liabilities and obligations, which is why those forms of business are the most popular. One of the fundamental choices for the budding…
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The concept of a trust is difficult for many people to grasp because a trust is a concept, and therefore is an intangible. Another intangible that is more familiar, and therefore seems easier to understand, is a corporation. A quick look at the two concepts, how they are similar and how they are different may help…
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The Drendel & Jansons involvement in the Kane County Bar Association continues. On June 5, 2014, Lawrence L. Lobb was sworn in as the secretary/treasurer, and Carolyn D. Jansons was sworn in as a director. Both of them continue previous membership on the KCBA Board of Managers. The tradition includes many, many committees chaired, presentations…
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The 2013 tax year is in the books (for most of us who did not file for an extension), and the 2014 tax year is in full swing. Now is the time to consider changes that have taken place and to make adjustments accordingly while you can. Unfortunately, those changes will mean higher taxes for…
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People have told me they do not have enough money to bother doing a Will. It is not always about the money, however. Mickey Rooney, though he was the highest paid actor 70 years ago and had a legendary career, died with only $18,000 in his estate just recently at the age of 93. His…
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Lawrence W. Lobb presented this week on the topic of Ethical Considerations at the National Business Institute seminar on Title Law in Illinois held in Naperville. The seminar was intended for attorneys, title/abstract practitioners, real estate professionals, paralegals and bankers.
Kevin G. Drendel has been named one of Chicago’s Top Rated Lawyers for 2014 by The American Lawyer in connection with The National Law Journal and will be featured in the 2014 edition of Chicago’s Top Rated Lawyers. The recognition is given to attorneys who have attained a preeminant AV rating from Martindale-Hubbel, the oldest rating service for…
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