Small Business

Succession planning for your business

Succession planning involves anticipating how you’ll turn your business over to someone else when you retire, become disabled or die unexpectedly.  Considerations can be quite different for a family business than they would be for a partnership or closely held corporation. If your business is a sole proprietorship, you might have more options than if it’s a partnership. Typically,

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Personal Guarantees in Commercial Leases

Serving Waukegan, Libertyville, Lake County, Gurnee & nearby areas of Illinois Posted: March 23, 2016 Our firm represents many small businesses including start up enterprises. With our help, they typically establish a corporation or limited liability company both to protect the owner(s) from unforeseen business liabilities and for certain tax advantages. Despite setting up this

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