The attorneys of Lavelle Law Ltd. address a variety of legal topics.
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Deferred Compensation Plans
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Owners of closely held businesses can learn about deferred compensation plans that provide opportunities to increase their tax deferred retirement contributions. Steven A. Schoenbrun of Midwest Benefit Consultants, Ltd. discusses different plans that are IRS approved and provide owners with the chance to increase their contributions. Attorney Kerry…
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Intricacies of Dealership Law
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There are a number of unique legal characteristics to launching and operating a dealership for automobiles or construction, landscaping, and agricultural equipment. Attorney Sarah Reusché recently launched a new Dealership Law practice group at Lavelle Law. She discusses the legal complexities of securing and starting a dealership and takes a look …
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The Corporate Practice of Medicine Doctrine
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Any medical service provider in Illinois, including many spas, must be physician-owned under the corporate practice of medicine doctrine. In this discussion. Ted McGinn, Managing Partner at Lavelle Law, and Eso Akunne, Associate at Lavelle Law, discuss the law, fee splitting, management services organizations, and other aspects impacting the operat…
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Historic Changes in Home Buying
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Laws have been introduced in a number of states in response to various lawsuits regarding transparency in real estate broker commissions. Lavelle Law Shareholder Kelly Anderson and Realtor Cathy Betourne discuss the implications for buyers, sellers, realtors, and on the closing process.Chicago Legal Latte
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Fee Shifting Provisions in Contracts
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Between the state of Illinois and federal courts, there are well over 200 statutes which deal with fee shifting provisions. They lay out ways in which legal fees may become the responsibility of one party in a lawsuit. Lavelle Law Associates Jodie Upchurch and MaryAllison Mahacek discuss ways that these provisions should be included in contracts an…
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Considerations for Starting a Medical Spa in Illinois
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Businesses classified as medical spas have a variety of special considerations that must be adhered to in the state of Illinois. In this discussion, Lavelle Law attorney Eso Akunne discusses critical issues that must be met to operate with state laws. If you are interested in getting involved in this rapidly growing industry be sure to listen to th…
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Corporate Transparency Act
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Beginning January 1, 2024 most businesses in the U.S. are required to comply with the Corporate Transparency Act. Lavelle Law attorney Frank Portera will share important details about the new Act and how it impacts businesses. He will cover the scope of the Act, deadlines, requirements, and penalties. If you own even a portion of a business, this i…
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Accord and Satisfaction
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If a business is disputing an amount owed to them from a customer or vendor they need to be careful about accepting and depositing payments that are labeled Payment in Full. Lavelle Law Shareholder Jennifer Tee discusses the legal concept of Accord and Satisfaction and outlines steps businesses should take when processing payments to prevent accept…
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The Importance of Employee Handbooks
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Lavelle Law Shareholder Lance Ziebell draws on his experience in representing businesses in legal matters as he discusses the importance of having an employee handbook. Lance not only explains why they are important, but what should be included and how to effectively use one to protect your business from legal claims from employees.…
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Trademark Infringement
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Lavelle Law Shareholder Matthew Sheahin, an experienced business litigator discusses the importance of establishing trademarks for a business and then details how to effectively use the legal process to defend those trademarks. Matt shares the steps business owners should take while he shares some examples of recent cases involving trademark infrin…
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ESOPs as a Business Succession Option
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Employee Stock Ownership Plans are reviewed by Lavelle Law attorneys Steven Migala and David O'Leary, both of whom have extensive experience with this business succession option. ESOPs are a mechanism by which owners can sell their business to employees allowing their legacy to be protected. Learn about the advantages of the approach and some of th…
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Minimize Taxes with Estate Planning Tools
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Once you pass away, your assets, including any businesses you own, can be passed on to your spouse, children, or anyone else you designate. However, they may be subject to taxes unless you prepare a sound estate plan that uses the right instruments. Lavelle Law Shareholder Brian Warens discusses how to minimize tax obligations for your heirs in thi…
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Financing Options for Home Buyers
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Mortgage interest rates have more than doubled in the last year causing some buyers to sit out for now while others look for the best way to finance their new home. Lavelle Law Shareholder Kelly Anderson and Sheila DuPaw of Guaranteed Rate discuss financing a home purchase in today's market including the seller buy-down option. Learn more about thi…
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Utilizing Estate Planning Tools for the Succession of Family-Owned Businesses 2
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In part 2 of this discussion, Elizabeth Maine Ellis, a Partner at Lavelle Law, drills down further on the topic of estate planning tools for independently-owned and family-owned businesses. She will look at the topic relative to the life-cycle of the business, retirement planning, and passing a business on to heirs.…
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Why Your Company Should Have a Shareholder Agreement
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When people start a business their focus is on the here and now. If a task is not critical, it often gets overlooked or deferred. Lavelle Law Managing Partner Ted McGinn and Associate Meghan Hartnett discuss the importance of creating a sound shareholder agreement right from the start. They'll discuss what should be included and how to make sure al…
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Utilizing Estate Planning Tools for the Succession of Family-Owned Businesses
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Estate planning takes on extra importance when running a family-owned business. Lavelle Law Partner Elizabeth Maine Ellis discusses a series of critical elements that families with a business need to consider to protect the legacy they have built.Chicago Legal Latte
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Illinois Supreme Court Rulings on BIPA
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The Illinois Biometric Information Privacy Act was enacted several years ago but as often happens with new laws, it is being defined through a series of court cases. Lavelle Law attorney Thomas Fox talks about several of those cases and what the outcomes mean for employers and the future enactment of the law.…
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Can Student Loans be Discharged in Bankruptcy?
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Until recently, it was very unlikely that student loan debt could be discharged in a bankruptcy proceeding. Lavelle Law attorney Timothy Hughes discusses a new change to laws that provide an opportunity for some filers to have a clearer path to dismissing that debt.Chicago Legal Latte
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Alternative Approaches to Divorce Pt 3
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This series has focused on alternative approaches to divorce other than the traditional two-attorney courtroom process. Approaches include uncontested divorces, mediation, and collaborative divorce. Following those approaches, our participants discuss the division of property and assets in this final installment. Join Lavelle Law attorneys Patti Le…
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Filing Bankruptcy Due to Tax Debt
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Lavelle Law Managing Partner Ted McGinn and Shareholder Timothy Hughes wrap up their series on taxes by discussing bankruptcy as an option for eliminating a tax debt. They will explain what requirements need to be met and outline advantages and disadvantages to using this tactic.Chicago Legal Latte
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Alternative Approaches to Divorce Part 2 - Parenting
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In the 2nd installment of the Lavelle Law series on alternative approaches to divorce, attorneys Patti Levinson and Annette Corrigan are joined by licensed marriage and family therapist Amy Wilhelmi to discuss parenting responsibilities during and after a divorce. In an alternative approach such as collaborative divorce or mediation, parents can re…
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Tax Series Pt 2 - Tax Debt
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In part 2 of the Lavelle Law series on taxes, Managing Partner Ted McGinn and Shareholder Timothy Hughes discuss ways to address a tax debt. There are several options available based on the conditions of the debt. Learn more about them in this discussion.Chicago Legal Latte
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Alternative Approaches to Divorce Pt 1
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Divorce is never an easy process but in some cases it is not contentious. In this first segment of a 3-part series, Lavelle Law attorneys Patti Levinson and Annette Corrigan are joined by marriage and family therapist Amy Wilhelmi to discuss alternatives to the traditional process. They will share thoughts on collaborative divorce, mediation, and o…
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Why are certain individuals or businesses selected to be audited by the IRS? If you receive notification of an audit, how do you proceed? Join Lavelle Law attorneys Ted McGinn and Timothy Hughes as they discuss the audit process in part one of a new 3-part series on tax audits.Chicago Legal Latte
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Buying or Selling a Business - The Closing
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In the final installment of our 3-part series on buying or selling a business, we discuss the closing. Lavelle Law Managing Partner Ted McGinn, Bill Germanetti, Principal at Impact Business Coaching, Inc., and David Gronski, President, North Coast Capital Advisors, Ltd. discuss what takes place, who attends, and how to prepare.…
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The Due Diligence Process
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When businesses are bought, sold, or merge, a due diligence period allows both parties to review all elements of the entities involved in the transaction. Lavelle Law Managing Partner Ted McGinn and Bill Germanetti, Principal at Impact Business Coaching, Inc. take you through the critical elements of the due diligence process.…
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What is a Letter of Intent?
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Before entering detailed negotiations to buy, sell, or merge businesses, it is advisable to have a clear letter of intent drafted. Ted McGinn, Managing Partner of Lavelle Law, Bill Germanetti, Principal at Impact Business Coaching, and David Gronski, President, North Coast Capital Advisors discuss the important elements of a LOI.…
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Important Developments in BIPA Litigation
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State and federal courts continue to render important decisions regarding the scope and reach of Illinois' Biometric Information Privacy Act or BIPA for short. BIPA is intended to protect the biometric identifiers, including fingerprint and facial identification, of Illinoisans. In this podcast, attorney Brian Massimino digs into the important take…
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M&A Intermediaries & Brokers
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An M&A intermediary or broker provides valuable advice to companies who are seeking a sale or acquisition. In this podcast, Steven Migala, Lavelle Law Attorney and Shareholder, is joined by Paul Heinze, President of the Paul M. Heinze Company and an alliance partner in Goldberg Heinze Business Advisors. Steve and Paul discuss the value of working w…
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Debtor in Possession Financing
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Bankruptcy laws have been changed whereby it is much easier for a business to reorganize and restructure its debt. But when a business does file for a bankruptcy reorganization, it needs to secure a lending relationship whereby cash flow needs can be financed through the bankruptcy. In this podcast, Lavelle Law attorney Ted McGinn and his guest, To…
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This podcast explores alternative cash flow solutions for companies not involving traditional bank financing. The impact of COVID-19 on cash flow will be discussed, as well as how alternative financing products can address the different cash flow needs that a business may experience. Join Lavelle Law attorney Steve Migala and his guest, Tom Stambor…
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When individuals and businesses fall behind on tax filings and payments, they often underestimate how costly the problem can be to fix, in large part due to the significant penalties the IRS assesses in non-compliance. In this podcast, attorney Joshua Nesser discusses the most common penalties taxpayers face and what can be done to resolve them.…
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Should a Business Owner Rollover Their Equity in a Sale?
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Are you thinking of selling your business? An owner’s decision to roll over its equity in a transaction can be a very good one with many advantages. However, selling owners should be cautious before they agree to rollover equity, and they should conduct significant due diligence and negotiations to ensure they are not agreeing to unfavorable terms …
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Small Business Entity Selection, Formations, and Corporate Compliance
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In this podcast, Attorney Frank J. Portera discusses Lavelle Law’s process in forming new companies by explaining exactly what filings are required in order to get your new start-up operating properly. Frank also explains the continuing annual reporting and corporate compliance requirements that are needed for all Illinois companies.…
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Navigating the Annual Requirements for Investment Advisers
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SEC-registered investment advisers must navigate several annual and ongoing regulatory and compliance requirements. Two of the most important investment adviser annual requirements are submitting an annual updating amendment to the Form ADV and conducting an annual review. Failing to comply with these annual requirements can subject an investment a…
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Cybersecurity For Your Small Business
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Cybersecurity is constantly evolving and requires small business owners to implement strategies to protect and secure the data that they store as part of the operation of the business. The majority of businesses were not prepared for the shift in business practices that we’ve seen since the start of COVID-19, including remote working and new techno…
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What Options Do Illinois Restaurants Have to Stay Open for Indoor Dining?
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Seasoned litigator and Lavelle Law Shareholder, Matt Sheahin, discusses the options available to Illinois restaurant owners in challenging Governor JB Pritzker's emergency order that prohibits indoor dining in Illinois restaurants. Matt will explain the Illinois law, the specific emergency order, and the legal options that owners may consider.…
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Historic Exemptions and Rates for Estate, Gift, and GST Taxes May Not Last Long!
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The current federal exemptions from estate, gift, and GST tax are at an all-time high, but these exemptions and the applicable tax rates could be affected by the upcoming presidential and congressional elections. Any such changes made well into next year could be retroactive to January 1, 2021, and these historic exemptions would be lost. Even with…
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Simple Steps to Prevent Waiving the Attorney Client Privilege
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The attorney client privilege exists to “prevent the disclosure in judicial proceedings of the communications between the attorney and the client.” Its purpose is to encourage open and honest communications between an attorney and client. Like other “privileges,” the attorney client privilege can be waived, which means that an adverse party may be …
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Evictions in Illinois During the COVID-19 Pandemic
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This podcast will provide you with an overview of the eviction process in Illinois and how it’s being affected by the COVID-19 pandemic. Joshua Pagan is an attorney in Lavelle Law’s litigation practice group where he primarily handles commercial and business litigation matters and occasionally handles eviction matters.…
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Corporate Dissolutions
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In this podcast, attorney Ted McGinn discusses closing a business entity that has creditor claims exceeding its assets. Listen to episode 7 of our Bankruptcy Solutions mini-series.Chicago Legal Latte
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Business Reorganization - Chapter 11
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In this podcast, attorney Tim Hughes provides an overview of the impact and requirements for filing for Chapter 11 bankruptcy protection for a business. Have a listen to this episode of our Bankruptcy Solutions mini-series and explore the options available for your business.Chicago Legal Latte
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Business Chapter 7 Bankruptcy
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In this podcast, attorney Ted McGinn discusses whether filing for Chapter 7 bankruptcy is right for a business. Listen to episode five in our “Bankruptcy Solutions” mini-series.Chicago Legal Latte
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Chapter 13 & Mortgage Foreclosures
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In this podcast, attorney Tim Hughes discusses how Chapter 13 can possibly save a home from foreclosure.Chicago Legal Latte
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Discharge of Debts – Special Creditors
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In this podcast, attorney Ted McGinn discusses how creditors’ claims are handled in bankruptcy.Chicago Legal Latte
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Protection of Assets - Chapter 7 Exemptions
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In this podcast, attorney Tim Hughes discusses what the impact is on the assets of a person when they file for bankruptcy. He will explain what happens to your property if you file for bankruptcy and how to protect your assets. Join us for our second episode in our “Bankruptcy Solutions” mini-series.…
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Is Consumer Bankruptcy the Solution to COVID-19 Unemployment?
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In this podcast, attorney Tim Hughes discusses whether filing for bankruptcy can help individuals facing harassment from creditors.Chicago Legal Latte
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The Main Street Lending Program
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In this podcast, Lavelle Law attorney Steve Migala summarizes the Federal Reserve Board's new Main Street Lending Program (Program). The Program operates through three facilities offered to small and medium-sized businesses: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan …
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Collaborative Divorces During COVID-19
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Lavelle Law attorney Patti Levinson explains the benefits of using the collaborative process for a divorce during the COVID-19 crisis.Chicago Legal Latte
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What Should I Do if Insurance Asks for a Recorded Statement After Collision?
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Many times, an insurance company will try to obtain what’s called a “recorded statement” after a person is involved in an accident. Attorney Nicholas Dollenmaier explains why that is probably not a good idea and why you should obtain counsel before providing one.Chicago Legal Latte
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