When a party walks into a case, the only thing on their mind is their side of the case. If people had a better understanding of the additional costs of the litigation, then they may be more willing to make a fair deal. In this post, I want to address, some, but...
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Illinois Law Blog
Guide to Being a LLC
When operating your small business as a Limited Liability Company, it is very important that you conduct business as the LLC legally. Proper procedures and practices will preserve your liability protection and make it difficult for savvy attorneys to bypass your LLC...
Discharge of Government Indebtedness (taxes) in Chapter 12
Early in November, Washington passed Public Law 115-82 which significantly clarified the rights of farmers to reorganize through Chapter 12 of the Bankruptcy code without the fear of significant tax consequences.Prior to this change, farming assets sold after filing...
Calculating Spousal Maintenance under Illinois Law
In a dissolution of a long-term marriage where there is a difference in the spouses' income, it is possible that the higher earning spouse may be required to pay spousal maintenance, formerly known as alimony. Whether maintenance should be paid depends on a number of...
Discharging Income Taxes in Bankruptcy
Benjamin Franklin is attributed to have said in regard to permanency that "in this world nothing can be said to be certain, except death and taxes". Now little can be done about death, but taxes may not be as permanent as you think. There is a common misconception...