Get Smarter Faster® with Bobby Pen & The Pen Pals® | Real Estate, Wealth & Health

SUCCESSION IN DISABILITY SITUATIONS

Succession is an important issue in estate planning. Usually, succession is discussed in terms of an asset owner’s or business owner’s death. Who should succeed me as owner and manager of my assets or business on my death? A less often discussed, but also significant, issue is succession in disability situations.

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Get Smarter Faster® with Bobby Pen & The Pen Pals® | Real Estate, Wealth & Health

WHY ILLINOIS BUSINESSES SHOULD CONSIDER NOT USING ILLINOIS ENTITIES

Simplicity can be advantageous in making decisions concerning your business. On the important decision of choice of entity, based on simplicity, it may seem appropriate to use an Illinois entity to operate an Illinois business. By using an entity formed in a different state than Illinois to operate an Illinois entity, there will be additional complexity from having to comply with the legal requirements of Illinois and another state. However, for some Illinois businesses, this complexity may be overridden by certain benefits from using non-Illinois entities.

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