3 Common Questions Probate Lawyers Are Asked

  • By Kari
  • 15 Feb, 2012
Protecting our loved ones is a primary concern for most of us. Although it’s unpleasant to think about what happens when we die, it’s essential that we plan ahead. If passing your assets along to your surviving family members, close friends and favorite charities is important to you, there are some things you should know about […] The post 3 Common Questions Probate Lawyers Are Asked appeared first on GGHH Law.
Protecting our loved ones is a primary concern for most of us. Although it’s unpleasant to think about what happens when we die, it’s essential that we plan ahead. If passing your assets along to your surviving family members, close friends and favorite charities is important to you, there are some things you should know about the probate process (and when you should contact a probate lawyer ).
What does “probate” mean?
Probate is the process by which a deceased person’s assets are collected and distributed to the rightful heirs. The court often supervises the process, and the way it is executed can differ from one state to another.
First, the deceased person’s assets are collected and all debts are paid off using those assets. What is left over is distributed according to the person’s most recent will. Where no will exists, state laws take over to determine who gets what.
How long does the process take?
As with most legal processes, it depends on the circumstances. It’s not unusual for the probate process to take a year or more. Obviously, this can be difficult for your family members who could be waiting a long time for the process to be completed. While there are ways to avoid probate, many of them involve additional costs. A good estate planning lawyer can help you determine which methods are best for you and your family.
How do I handle disputes?
Unfortunately, the probate process is often prone to disputes. If you have lost a family member, you may know this all too well. Loved ones may dispute the validity of a will, or object to how the assets are distributed. Settling these disputes can be painful, but a probate lawyer can ensure that you have an objective representative.
The probate process can be extremely complicated.  If you have questions, don’t rely on websites or what well-meaning friends may tell you – seek the help of an experienced probate lawyer at Garelli, Grogan, Hesse & Hauert.
By Robert Haney 13 Nov, 2017

When preparing to organize your dental practice, choosing the form of business entity may seem daunting. Dentists have many options for organizing their practices. In Illinois, these options include a limited liability partnership, professional association, professional limited liability company or a professional service corporation (“PSC”). Often, the best option for solo practitioner dentists is to form a PSC as it can provide tax advantages, liability protection and other benefits that are beyond the scope of this article. While a PSC operates similarly to a traditional corporation, because of its unique nature the set-up and maintenance of a PSC is a bit more nuanced than that of the traditional corporation. This article will provide you with a general overview and basic legal compliance checklist of the PSC incorporation requirements for dentists, but may also be applicable to other healthcare professionals.

Pre-Incorporation

1)     Choose Your Company’s Personnel . Traditional corporations are not generally limited in who can participate in its ownership and operation. However, under the Professional Services Corporation Act (the “PSC Act”), a PSC is limited in who is allowed to participate in the company. All shareholders, directors, officers, agents and employees of the PSC must be duly licensed by the Illinois Department of Financial and Professional Regulation (“IDFPR”) to provide their respective dental services. Only “ancillary personnel” do not require licensure. Ancillary personnel, which typically includes clerks, administrative staff and technicians, are employees who:

a)    Are not licensed under the Illinois Dental Practice Act (“Dental Act”);

b)    Are supervised by persons licensed under the Dental Act;

c)    Do not hold themselves out to be licensed under the Dental Act; and

d)    Are not prohibited by the IDFPR from being employed by the PSC.  

2)     Choose Your Company’s Name . Choosing your company’s name is vital to your PSC as it is often the first impression that people have of your company. The PSC Act has two main requirements when choosing your company’s legal name. The name must:

a)    Include the full name or last name of one or more of the shareholders; and

b)    End with “chartered”, “Limited”, “Ltd.”, “Professional Corporation”, “Prof. Corp.” or “P.C.”

However, if you would like to operate your company under a different name, your PSC can adopt a fictitious name by making a filing with the county clerk of the county where your company’s principal office is located.

3)     Choose Your Company’s Location . The PSC Act and Dental Act require that your company’s principal address be located in Illinois. Additionally, the PSC Act requires you to submit a separate application for licensure from IDFPR for each business location in Illinois.

Incorporation

1)     Draft Your Corporate Documents . To ensure that your PSC is in full corporate compliance, you will need to draft articles of incorporation, bylaws and other necessary documents for your company. In having these documents prepared, please note that it is important to use attorneys experienced in setting up PSCs to best protect your company from increased and unnecessary liability.

2)     File Articles of Incorporation with the Illinois Secretary of State . Once you have compiled all of the necessary corporate documents, you will need to file the Articles of Incorporation with the Secretary of State. Articles of Incorporation can be filed in-person, via mail or on the Secretary of State website .

3)     Obtain Your Federal Employer Identification Number . You can obtain a Federal Employer Identification Number or EIN, from the IRS via telephone or the IRS website .

4)     Register with the IDFPR . The final step in setting up your PSC before your company can begin practicing dentistry in Illinois is obtaining a license for your PSC from the IDFPR. The license application can be filled out online via the IDFPR website .

Post-Incorporation

Once you organize a PSC, it is imperative to properly maintain the “corporate veil”, or the invisible wall separating you from your PSC. If the corporate veil is not maintained, the limited liability benefits you are afforded under your PSC can be destroyed and you may be held personally liable for the liabilities of your PSC (note however, that a PSC does not provide insulation from dental malpractice, for which a dentist remains personally liable). In order to maintain your PSC’s corporate veil, you must:

1)    Timely file the PSC’s Annual Reports.

2)    Timely renew the PSC’s license with IDFPR.

3)    Properly maintain separate corporate minutes, records and consents for the PSC.

4)    Do not commingle PSC funds and personal funds.

5)    Only sign documents in the operation of your PSC in your capacity as an officer, director or shareholder of the company.

Please note that the foregoing list is not necessarily exhaustive but it is the minimum you need to do to maintain your PSC.

That concludes the general overview and basic legal compliance checklist for forming a PSC in Illinois. It is important to remember that while a PSC may be the correct choice for certain dentists, it may not be the best choice for you. Accordingly, regardless of how you choose to organize your dental practice, it is important to consult with an experienced attorney beforehand to determine which type of entity best suits your specific needs. Please feel free to reach out to me with any questions at bhaney@ghulaw.com or visit our website at www.chicagodentalattorney.com .    

 

Robert Haney is an attorney and business advisor serving businesses in the Chicagoland area and throughout the country. Mr. Haney advises businesses and entrepreneurs from startup to sale, and strives to be a trusted advisor to his clients by delivering practical and efficient counsel on a wide range of matters. His combination of legal and business experience provides a unique perspective when counseling clients, giving him an understanding of the true value and application of his advice to their organizations. To learn more about Mr. Haney, visit www.ghulaw.com .

By Michael 05 Dec, 2016
On November 22, 2016, U.S. District Court Judge Amos Mazzant granted an Emergency Motion for Preliminary Injunction and thereby enjoined the Department of Labor from implementing and enforcing the Overtime Final Rule on December 1, 2016. The case was heard in the United States District Court, Eastern District of Texas, Sherman Division (State of Nevada […] The post Important information regarding recent overtime litigation in the U.S. District Court of Eastern District of Texas appeared first on GGHH Law.
By Michael 17 May, 2013
INTRODUCTION Though it may seem that the economy is on the mend, a quick discussion with the leaders of many area businesses exposes an underlying unease as to whether the economy as a whole can sustain its recovery given the inability of bureaucrats in Washington to craft long-term solutions to our country’s financial crisis.  Many […] The post CASH OR CREDIT…LANDLORDS BEWARE! appeared first on GGHH Law.
By Michael 09 Jan, 2013
Limited Liability Companies, or “LLC” as they are more commonly known, have been the “entity du jour” over the past decade, and I’ve been asked by many a client what the real reasons are to choose an LLC over, for example, an S-Corporation, a Partnership or a traditional C-Corporation.  Choosing the most appropriate structure for […] The post TO LLC OR NOT TO LLC: THAT, IS THE QUESTION! appeared first on GGHH Law.
By Michael 13 Nov, 2012
As the former owner of a contracting business I am all too familiar with the need to be named as an “additional insured” on a subcontractor’s certificate of insurance.  Most business owners and risk managers though don’t fully understand the nuances of this often overlooked but vitally important part of their overall insurance coverage.  For […] The post DON’T GET TRAPPED IN THE COVERAGE GAP: ADDITIONAL INSUREDS UNDER COMMERCIAL GENERAL LIABILITY POLICIES – RECENT DEVELOPMENTS appeared first on GGHH Law.
By Michael 07 Nov, 2012
With the increase in recent years of real estate transactions involving distressed mortgage loans and investors or developers intent on acquiring fee title to the underlying property, the City of Chicago needed to clarify its position on the interaction of Exemptions C & M of the Chicago Real Property Transfer Tax Ordinance. Exemption C provides […] The post CITY OF CHICAGO CLARIFIES EXEMPTIONS TO TRANSFER TAX ORDINANCE appeared first on GGHH Law.
By Michael 02 Oct, 2012
Elmhurst, IL, October 1, 2012–Garelli Grogan Hesse & Hauert (GGHH), a multi-practice law firm serving businesses and individuals throughout the Midwest, is pleased to announce that Jordan Uditsky has joined the firm as a partner to further expand its existing business transactional practice. Mr. Uditsky brings a wealth of experience to GGHH as both a […] The post Garelli Grogan Hesse & Hauert Appoints New Lawyer appeared first on GGHH Law.
By Kari 28 Feb, 2012
While you may have the best of intentions as an employer, a single misstep can create ugly employment lawsuits. There are important things that every employer must know to avoid employment litigation. Discrimination, in particular, can be especially tricky. Here’s what you need to know: Discrimination Hiring and promoting the best-qualified candidates isn’t always as easy […] The post What Employers Need to Know About Discrimination appeared first on GGHH Law.
By Kari 22 Feb, 2012
You have an idea. You’ve decided to go for it. You’re ready to start your own business – but there are still a lot of questions need answered. What type of organizational structure fits your business? How many employees should you hire initially? Where do you get the funding if you can’t afford to start it […] The post What You Need to Know About Legally Organizing a Business appeared first on GGHH Law.
By Kari 15 Feb, 2012
Protecting our loved ones is a primary concern for most of us. Although it’s unpleasant to think about what happens when we die, it’s essential that we plan ahead. If passing your assets along to your surviving family members, close friends and favorite charities is important to you, there are some things you should know about […] The post 3 Common Questions Probate Lawyers Are Asked appeared first on GGHH Law.
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