Author: Linsi Tuttle
Understanding Testamentary Capacity in the Context of Estate Planning
Posted on April 28, 2023
Anyone who signs a legal contract must do so of their own free will. An individual cannot be forced, manipulated, or tricked into signing a contract. These rules also apply to estate planning documents such as wills and trusts. Testamentary capacity refers to a person’s ability to create and agree to a valid will. An individual must be of sound mind to create a will that holds up against a will contest. Whether you are planning to create your will or you have concerns about the validity of a deceased […]
Key Estate Planning Considerations for Anyone Getting Divorced
Posted on April 25, 2023
If you are in the middle of a divorce or thinking about ending your marriage, make sure you understand how to update your estate plans to reflect your new marital status. Divorce can be very overwhelming, and it is not uncommon for people to neglect crucial estate planning concerns during and after their divorce. Update Your Power of Attorney for Healthcare and Finances A power of attorney is a legal tool used to designate an individual who has the authority to make decisions on your behalf. A power of attorney […]
Burnout is a Serious Problem for Business Owners: Here is How to Combat it
Posted on April 20, 2023
To say that the last few years have been difficult for business owners is to put it very lightly. Business owners have had to contest with record inflation, supply chain issues, worker shortages, and ever-changing customer needs. It comes as no surprise then that a significant number of small business owners are suffering from burnout. One national survey found that just under half of business owners have experienced burnout in the last month. Burnout refers to a general feeling of exhaustion caused by chronic work-related stress. It often leads to […]
Using a Special Needs Trust for a Child With a Severe Disability
Posted on April 18, 2023
If you are the parent of a disabled child, you are probably all too familiar with the expenses that come with a serious disability. The cost of special education, medical care, assistive devices, and other needs can be significant. For now, you may be able to cover these expenses by directly paying for your child’s needs. But what happens when you pass away and can no longer directly provide financial assistance to your child? A special needs trust is an estate planning tool that parents of disabled children can use […]
What Illinois Business Owners Need to Know About Personal Injury Liability
Posted on April 13, 2023
For business owners, the responsibilities are never-ending. There are so many things to think about that some tasks get put on the back burner. You may currently be focusing on sales, customer satisfaction, marketing, or streamlining your business practices. However, you may not give much thought to the possibility of somebody being injured on your property. Although it is often seen as a lesser priority, it is crucial for business owners to reduce personal injury liability as much as possible. The best way to do this is to take proactive […]
Leaving Inheritance to a Caregiver? Make Sure You Know Illinois Law
Posted on April 7, 2023
For elderly individuals and those in poor health, caregivers can be valuable sources of assistance, compassion, and support. Private nurses and other in-home healthcare workers assist with meals, hygiene, everyday tasks, and medical needs, providing crucial help to those in need. Understandably, many people come to think of paid caregivers as much more than just hired helpers—they become like family. If you are considering leaving assets to a caregiver through your will, make sure you understand how Illinois estate planning laws address these types of gifts. Illinois Law Regarding Inheritance […]
How to Use Artificial Intelligence to Benefit Your Small or Medium-Sized Business
Posted on April 4, 2023
Artificial intelligence has been around – at least in some capacity – for quite some time. However, it is only recently that AI services such as ChatGPT have gone viral. Opinions about artificial intelligence and what the technology means for society vary significantly. Some people think that the rapidly growing capabilities of AI technology are something to fear. Others see AI as an opportunity for innovation, advancement, and creativity. One thing is certain: AI is here, and it is likely here to stay. As a business owner, it is imperative […]
Why You Need a Business Attorney for Your Small or Medium Business
Posted on March 28, 2023
Being a small or medium-sized business owner can sometimes feel like a David and Goliath situation. Inflation, supply chain interruptions, staffing problems, cyberattacks… the list goes on and on. The challenges, difficulties, and frustrations faced by business owners on a daily basis are too great to count. With so many concerns to juggle at once, many business owners neglect legal concerns such as compliance with regulations and laws, protecting intellectual property rights, licensing issues, and employment law concerns. This is where a business attorney can be invaluable. A business attorney […]
Common Reasons that Businesses Fail
Posted on March 23, 2023
Most entrepreneurs and small business owners are well aware of the grim statistics surrounding business failure. A fifth of new businesses close their doors within a year and only half of small businesses survive past their fifth year. However, the news is not all bad. There are many ways to combat these odds and increase the chances of long-term success for your business. By taking a proactive approach to the challenges of business ownership, you can give your business a fighting chance. Inadequate and Ineffective Business Planning The saying “failing […]
What Every Estate Plan Should Take into Account
Posted on March 23, 2023
Creating an estate plan should be thought of as an ongoing process. Your personal and financial needs and goals will inevitably change as time passes, and with those changes, your estate plan should be revisited. Furthermore, an estate plan is much more than simply a list of assets and a designation of who will receive the asset. Comprehensive estate planning can also address how medical and financial decision-making should be handled if you become incapacitated, your wishes regarding end-of-life care and organ donation, and much more. Every estate plan should […]
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