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IL business lawyerBuying a business can be an important milestone in someone’s career and personal life. In some cases, buying a company that is already established can be very appealing and make the owning process much smoother compared to starting a business from the ground up. However, before a potential buyer makes any major decisions, there are many business and personal aspects that they should take into consideration.

Reasons for Wanting to Buy a Business

There are many reasons people opt to buy an already existing business instead of starting a business from scratch. Avoiding the challenging startup period can provide pre-established benefits including the company brand and identity, building or office space, customer base, vendor and supply base, and management processes.

While buying an existing business poses several advantages, a potential purchaser should also consider why they want to buy a particular business. When buying a business, it is in the purchaser’s best interest to seek out a business that aligns with their interests and ambitions. Generally, a company will likely be more successful and innovative if the owner has more familiarity and knowledge of the business’s products, services, target market, and trends.

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IL estate lawyerIf there comes a time when you are unable to speak or make decisions for yourself, you will want directives in place that included pre-established decisions. A living will is a document that establishes a person’s medical care preferences should they be unable to communicate their desires. Living wills are one of many estate planning tools that an adult of any age can start preparing. With the guidance of a well-equipped attorney, living wills can be adequately formed and adjusted.

Purpose of a Living Will

A living will allows a person to still obtain the preferred medical treatment and prevents unnecessary hardship on an individual and their loved ones. Living wills allow a person to have their preferences met in a time they can no longer speak for themselves and also relieves their loved ones of the decision-making burden.

The durable power of attorney is a major component of an effective living will. This allows an individual to delegate another person to oversee that their wishes are met in terms of healthcare. The extent of authority that this agent is granted is at the discretion of the living will’s creator. If comprehensive authority is granted, the patient advocate will likely be permitted to consent or refuse consent to any treatment that affects physical or mental health, hire or fire any medical personnel, make choices regarding the best medical facilities for the patient, and more.

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IL real estate lawyerHomeowners generally take a great deal of pride in their property and residence. When the new home enjoyment is diminished by construction defects that lessen the functionality and value of the real estate, it may be challenging for homeowners to know what steps to take next. To accurately establish who is responsible for these flaws and effectively repair the home, it may be in the homeowner’s best interest to solicit the help of a real estate attorney who can help.

Categorizing Construction Defects

Defects that occur during the construction process can range from minor faults that are barely noticeable to extensive issues that could lead to substantial expenses for the homeowner.

Each phase of the construction project allows for the possibility of defects. When the land is initially acquired, oversights can lead to an inaccurate analysis of soil and environmental issues. Flaws in the design phase can result in structural deficiencies and project delays due to necessary modifications. Negligence on the part of a contractor or subcontractor often leads to the use of lower quality materials and contributes to an overall lower caliber of product for the customer. Issues including electrical, piping, or heating defects can contribute to water seepage, mold, and electrical failures. Flaws in a home’s foundation, including cracks in the walls, roof, or floor may also lead to a construction defect case. Alternatively, in cases that do not involve residences or buildings, defect claims may arise from roadway repairs, design, and construction.

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IL family lawyerDuring a case regarding child custody, a child may be appointed a guardian ad litem (GAL). GALs are court-appointed volunteer attorneys with legal or specially trained medical health experience. While some judges assign GALs to every case involving a child, other judges reserve this resource until requested by one of the involved parties. Certain circumstances that may benefit from a GAL include child custody, adoptions, child support, and the emancipation of a minor.

The main goal of GALs is to represent a minor’s best interests. The best interest of the child is the standard that must be used by both the GAL and the courts to make decisions regarding the child’s future living arrangements and parent relationships. This standard includes elements such as the child’s age, current relationship with their parents, and the stability of each parent’s living arrangements.

Each jurisdiction has its own requirements that determine when a GAL can and should be appointed as well as the GAL’s minimum qualifications and payment. The effectiveness and quality of a GAL depend on the jurisdiction’s available funding and regulations.

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IL business lawyerBuilding and running a business requires an immense amount of time and effort. The financial and emotional toll successfully operating a business takes, makes selling that business a very difficult decision. However, when the time comes, it is important to have a full understanding of what this sale will entail and how to prepare yourself and your business appropriately. Before you look for buyers, there are two significant decisions you will need to consider. First, why do you want to sell your company? And second, how should you value the business?.

Why Do You Want to Sell Your Business?

Selling a business can be a complex and burdensome decision. One of the most important questions you will be asked during the selling process is, “Why are you selling your business?” and it is crucial that you have a prepared, well-thought-out answer. If your only reason for selling is financial struggles, you may want to consider speaking with a professional to make sure that the decision is right for you, as selling your business can lead to more expenses in the long run.

Your motivation for selling your business can make or break the purchaser’s final decision. Common reasons for selling a business include:

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