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Recent blog posts
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Special needs planning is a component of estate planning designed to address the requirements of individuals with disabilities or chronic conditions. For families in Illinois, this planning is essential to ensure the long-term care and financial stability of loved ones with special needs. Bielski Chapman, LTD., our respected Illinois estate planning attorneys are here to…
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Navigating Family Disputes During Illinois Probate
: Navigating Family Disputes During Illinois ProbateWhen a loved one passes away, the probate process can be emotionally and legally complex, particularly in Illinois. While the goal is to ensure the deceased’s wishes are carried out, we understand that family disputes often arise during probate proceedings, adding an extra layer of stress to an already challenging time. At Bielski Chapman, we…
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Probate vs. Small Estate Administration in Illinois
: Probate vs. Small Estate Administration in IllinoisThe loss of a loved one is a difficult time, and the process of handling their estate can add to the emotional burden. In Illinois, there are two primary methods for managing an estate: probate and small estate administration. Both serve the purpose of distributing a deceased person’s assets, but they differ in terms of…
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How Do I Create a Succession Plan for a Small Business?
: How Do I Create a Succession Plan for a Small Business?If you want to make sure your business is sustainable for the future, you need to have a succession plan. A succession plan outlines who will take over your business when you retire, become incapacitated, or pass away. Creating these plans can reduce any issues when it comes to transitioning leadership in a company. Here…
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What Is the Difference Between Estate Planning and Business Succession Planning?
: What Is the Difference Between Estate Planning and Business Succession Planning?At first, estate planning and a business succession plan might seem the same. However, they are two different processes that help ensure a smooth transition of assets and delegation of responsibilities. These plans help with the transfer of wealth in a person’s personal and professional life. If you want to know the difference between estate…
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The death of a business owner can have far-reaching consequences, affecting the personal lives of their family and loved ones and the business’s future. When a business owner dies, the remaining family members or partners must consider the company’s legal, financial, and operational aspects. Learn about the steps to take once a business owner passes…
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As a business owner, you do everything to protect your company. However, many people need to realize that estate planning should be a part of that process. While estate planning is not an exciting part of entrepreneurship, you need it to have a smooth transition of assets and minimize tax liabilities for beneficiaries. Here is…
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A clear property title is your golden ticket in the real estate world. It guarantees that the property you want is free from legal claims or complications. If there are issues with a title, that could cause problems with your ownership rights. A property title search can provide peace of mind during this time. Here…
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Understanding Property Ownership Structures in Real Estate Investments
: Understanding Property Ownership Structures in Real Estate InvestmentsReal estate investments can provide a road to financial prosperity and stability. However, the property’s ownership structure may impact your control, taxation, and financial stability. Whether you wish to buy commercial or residential real estate, make sure you know which structure is the right one for you. Sole Ownership The most straightforward property ownership structure…
