Team Kelley Blog
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New Laws in Illinois for 2018
As with the start of any new year, January 1 marks the day that many new laws go into effect. Here is a short rundown of some of the most notable new laws for Illinois in 2018: House Bill 736 establishes a small business grant program for those individuals receiving public aid. The act seeks to provide funds through the Department of Commerce and Economic Opportunity to individuals seeking...
GOP Tax Plan
Now that Congress has passed the 2018 tax reform legislation (“Tax Cuts and Jobs Act”) you may want to take advantage of some year end tax planning opportunities. Here are a few of the more significant developments you may wish to consider. State and Local Tax DeductionBeginning in 2018 the deduction for state and local taxes (i.e. your state income and local real estate taxes) is limited to...
What is Net Neutrality?
The FCC's ruling rolling back the Obama administration's protection of net neutrality principles has made a lot of headlines recently. Most people have heard that the loss of net neutrality protections will either kill the internet or save the internet depending on which media source you believe. What is net neutrality though? Net neutrality at its core is the principle that your ISP...
Illinois Five Day Notice and Eviction
If you are facing an eviction or looking to evict a tenant, you are probably somewhat familiar with the term five day notice. In Illinois evictions are generally controlled by the Forcible Entry and Detainer Act. Under 735 ILCS 5/9-101 a landlord cannot forcibly remove you. Under Illinois eviction law a party must seek eviction through the courts pursuant to the Forcible Entry and Detainer Act....
How to Select a Trustee for your Revocable Trust
Over the past 35 plus years of practicing law in the Schaumburg and Hoffman Estates area, we have counselled thousands of clients in estate planning matters. Among the most significant issues discussed are the characteristics one should consider in selecting a trustee of a revocable living trust. Whether one is considering who to serve as Agent under a Power of Attorney, Executor of a Will, or...
What is a Health Care Power of Attorney?
A power of attorney is simply a legal document where you name another person (called an “agent”) to perform some action on your behalf. There are lots of different types of powers of attorney. In estate planning there are two main powers of attorney: a power of attorney for health care and a power of attorney for property. In very basic terms a power of attorney for health care in Illinois...
Power of Attorney For Property
Just like a power of attorney for health care, an Illinois power of attorney for property is a legal document in which someone appoints another person, called an agent, to act on their behalf. A property power of attorney though deals with authorizing your agent to make decisions regarding your property, whether it is bank accounts, financial accounts, or your home. Just like a health care power...
Non-Compete Clauses
A non-compete agreement, non-compete clause, or a restrictive covenant is simply an agreement between two parties that one will not perform certain work, will not service certain clients, or will not perform any work within a certain geographical area for a specified period of time. Most often it is an agreement between an employee and employer where the employee agrees not solicit former...
What is Probate?
nt factors. Probate length will vary based upon the amount of the assets, the type of assets, the location of assets, the difficulty in locating assets, the marketability of the real property, how well or poorly the heirs get along and agree, the nature of any liabilities against the estate, and whether any challenges to the Will or contests arise. Many different factors influence the length of...