Blogs

Many business agreements include a provision calling for the resolution of disputes through arbitration rather than resort to the available court systems. These clauses are often recommended by reason of the delays and costs involved in court-centered litigation. However, considering the additional costs that may be incurred through arbitration, one should not blindly agree to an arbitration clause without considering the…Read More

The Bonus Forfeiture: The courts of Illinois have generally disfavored non-compete provisions in Illinois employment contracts. An employer who seeks to enforce a competition restriction that precludes a former employee from engaging in competitive activities must demonstrate the reasonableness of the restriction. In order to be enforceable, the courts of Illinois have repeatedly required that the restrictions be very narrow…Read More

In a recent Note from the Desk, I commented on the propitiousness of making family gifts in 2012 in order to take advantage of low values, low interest rates and the unprecedented $5,120,000 federal estate tax exemption. Recently, the United States tax court issued an opinion which further supports this proposition.Read More

As many of you know, there is an Illinois statute which shields property owners from liability for having created unnatural accumulations of ice and snow where they have made efforts to remove snow and ice from sidewalks abutting residential property. There is an exception to this protection where the property owner’s alleged misconduct was willful and wanton. The Illinois statute…Read More

Transferring Residential Property Upon Death-In prior years, it has often been my experience that the only asset remaining in a deceased person’s estate that requires probate is the decedent’s personal residence. AVOIDANCE OF PROBATE: Transferring Residential Property Upon Death In prior years, it has often been my experience that the only asset remaining in a deceased person’s estate that requires…Read More

In prior years, it has often been my experience that the only asset remaining in a deceased person’s estate that requires probate is the decedent’s personal residence. As of January 1, 2012, this circumstance can now be eliminated and probate avoided. Illinois has joined 16 other states, including its neighbors Missouri, Indiana and Wisconsin, in adopting a Residential Real Property…Read More

Both houses of the Illinois General Assembly have passed legislation to amend the Illinois statute which provides for the exemption of personal property of individuals from judgment, attachment or distress for rent. NEW ILLINOIS EXEMPTION: PERSONAL PROPERTY Both houses of the Illinois General Assembly have passed legislation to amend the Illinois statute which provides for the exemption of personal property…Read More

Recently an Illinois appellate court determined whether the following was actionable defamation: “(He) pocketed the money”; Was a “corrupt director”; “Used bully tactics to try gain yet more money”; “Failed to give the deliverable that was contracted for”; and Was operating a “fraud machine”. What do you think? If your answer is yes, you would be wrong according to the…Read More

Does an inherited Individual retirement account maintain its original exemption from creditor’s claims? Under Chapter 7 of the Bankruptcy Code, funds that are set aside for retirement needs need not be used to pay pre-retirement debts. However,when the owner of the IRA dies, whether the exemption continues may depend upon where the beneficiary resides and what relationship the beneficiary had…Read More

Recently Donald Trump was successful in his defense of a claim by a woman who claimed that he was guilty of fraud for failing to allow condominium unit purchasers in the Trump Tower to share in the profits of certain amenities as allegedly promised in Trump’s marketing materials. Mr. Trump has now again defeated a claim by a defaulting purchaser…Read More