The 2018 annual revisions to the Delaware Limited Liability Company Act, Del. Code Ann. Tit. 6, § 18-101 et seq. (the “Act”), bring two key changes. As Delaware LLCs are a favored legal entity to develop and hold real estate, lenders to these entities should pay particular attention and supplement… read more →
Beginning January 1, 2019, the Illinois Wage Payment and Collection Act requires employers in Illinois to reimburse employees for work-related expenses. For an expense to be eligible for reimbursement, an employer must authorize or require an employee to incur those expenses. This includes all necessary expenditures or losses incurred by… read more →
Al Domanskis, the Managing Member of Boodell & Domanskis, LLC, along with Lamar Butler of Midwest Legacy Group, recently led a presentation at Parkside Center on the Advocate Lutheran General Hospital campus which focused on estate and financial planning for families of individuals with special needs. They shared information on… read more →
Max Stein of Boodell & Domanskis, LLC was a panelist, along with John Levitske of Ankura and John Martin of Sugar Felsenthal Grais & Helsinger, on a webinar titled “Business Breakups” presented by Financial Poise as part of their Common Commercial Conflicts 2019 series. This webinar series focuses on the… read more →
A recent Illinois appellate court opinion discusses a topic that the Court was surprised to find had not previously been fully addressed: the right of a corporate director to the books and records of the corporation. In Munroe-Diamond v. Munroe, 2019 IL App (1st) 172966, the First District panel evaluated… read more →
Since the introduction of Illinois’ Limited Liability Company Act (805 ILCS 180 et seq.) in 1994, fees for the initial filing of Articles of Organization have oscillated between $400-$500 (the section and amendments detailing LLC fees is 805 ILCS 180/50-10). This is in stark contrast to the Illinois Corporate filing… read more →
Many of us have heard of “estate planning.” Most people have a general idea that an estate plan allows them to distribute their money and property according to their wishes when they die. If we don’t create an estate plan, then the distribution of our property can be in limbo… read more →
Al Domanskis and Ted Harrington recently participated in an estate planning workshop held by the Latin United Community Housing Association (LUCHA), walking participants through Powers of Attorney for Property and Healthcare and drafting wills and beneficiary deeds, also known as “transfer-on-death” deeds. These deeds can be a simple and… read more →
Companies who use third party services to obtain criminal and credit background reports on contractors and/or employees and prospects have to comply with the Fair Credit Reporting Act (FCRA). One of the requirements is providing a copy of the “Summary of Your Rights” notice to the individual if the company… read more →
