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Illinois family lawyerWhen you are considering divorce or already have filed for divorce in DuPage County, you should be thinking about hiring a divorce attorney who can assist with your case. Divorce law in Illinois is complicated, and legal issues arising in a divorce can be particularly contentious. Nearly all matters pertaining to divorce are governed by the Illinois Marriage and Dissolution of Marriage Act (IMDMA). Divorce attorneys should have experience handling cases similar to yours, such as those involving complex property division, high asset divorce, contentious custody issues, or concerns about maintenance and support. But how do you pick the best attorney for you? A publication from the American Academy of Matrimonial Lawyers (AAML) provides some tips for choosing a divorce lawyer who is best for your case.

Seeking Out Particular Criteria in a Divorce Attorney in Oakbrook Terrace

To pick the best divorce attorney for your case, you should have a sense of some of the particular criteria you are looking for in an advocate. For example:

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Posted on in Illinois Family Law

Illinois divorce attorneyWhen physicians and other healthcare professionals who own medical practices decide to file for divorce, it is important to work with a DuPage County divorce lawyer who has experience handling similar cases. In some ways, divorces involving physicians are no different than divorces involving individuals within other professions. At the same time, however, divorces involving physicians also frequently involve complicated property distribution processes and property settlements — especially when the physician owns his or her practice — as well as potentially complicated plans involving the allocation of parental responsibilities.

Property Division for Physicians

One complicating feature of divorces involving physicians is determining how to distribute a medical practice in which one or both of the parties is an owner. The Illinois Marriage and Dissolution of Marriage Act (IMDMA) governs property distribution. In Illinois, property is divided under a theory of equitable distribution, meaning that the property is distributed in a manner that is fair to both parties.

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Illinois divorce lawyerIf you are currently paying alimony in Oakbrook Terrace  (or “spousal maintenance,” as it is known under Illinois law), or if you are planning to file for divorce in 2018, it is important to think carefully about how the new tax plan could affect alimony payments. In short, the Tax Cuts and Jobs Act of 2017 will change the way your spousal maintenance payments — whether you pay them or receive them — affect your total taxable income and thus the amount of tax you pay. To be sure, Trump’s tax bill will make 2018 an interesting year for those looking to divorce. What does this mean for Illinois residents, and is there anything you need to do before the tax plan takes effect?

Alimony, Tax Deductions, and Taxable Income

The new tax bill comes with big tax cuts for certain individuals and entities. In order to raise revenue that will be lost through the tax cuts, the Republicans who drafted the bill turned to alimony as a possible source of revenue. Under the new bill, spousal support paid by one spouse to the other will not be tax deductible, and the recipient spouse no longer has to pay taxes on it. How is this different from the current system?

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Posted on in Business Law

Illinois divorce lawyerWhat is alternative dispute resolution (ADR), and how can it help in DuPage County business law matters and family law cases? According to the Cornell Legal Information Institute (LII), alternative dispute resolution is defined as “any method of resolving disputes without litigation.” In other words, alternative dispute resolution allows for grievances, complaints, and disputes to be handled outside of the courtroom. There are numerous types of ADR, but the two most common forms are arbitration and mediation. How do these ADR processes work, and why should businesses use them?

Understanding Alternative Dispute Resolution Under Illinois Law

Chapter 70 of the Illinois Statutes governs alternative dispute resolution in the state. Examples that are often relevant to small business in DuPage County include but are not limited to:

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Illinois divorce lawyerThe holiday season in DuPage County is upon us, and with it comes the looming threat of divorce. Whether you celebrate Christmas or are a member of the Muslim community of Oakbrook Terrace, the general holiday season in the country — from Thanksgiving through the New Year — is often a time in which married couples reevaluate their positions and consider the possibility of making a change as part of a New Year’s resolution. And it is not simply the winter holiday season that results in a spike in divorce rates. A recent divorce study concluded that a majority of divorce filings occur soon after the winter holiday season, and then soon after summer vacations come to an end.

What else should you know about filing for divorce after the holidays?

Divorce Day or the Beginning of the Work Week after the Holiday Season

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Posted on in Illinois Family Law

Illinois divorce lawyerHow often do residents of DuPage County file for divorce, and how frequent are those divorce rates in comparison to the national average? We often hear that a high number of marriages end in divorce, but how often is that actually true? And for marriages that do end in divorce, are there certain predictors that might help us to determine a couple’s risk for divorce? We often hear similar questions from our clients, and we know that residents of Oakbrook Terrace who are thinking about filing for divorce have questions about divorce rates in the area.

We have some statistics to help you understand the facts and figures surrounding divorce in DuPage County, as well as across the country.

Getting the Facts About American Divorce

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Illinois business lawyerAre you thinking about forming a not for profit corporation in Oakbrook Terrace or elsewhere in DuPage County? There are many benefits to establishing an organization that is incorporated under the Illinois General Not for Profit Corporation Act of 1986 (805 ILCS 105/). One of the first steps to forming a not for profit (or nonprofit) organization is to draft bylaws. According to the statute, bylaws are “the code or codes of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated.” In other words, the bylaws provide important rules and procedures concerning how the not for profit will operate.

Drafting bylaws can be a complicated process, and there are numerous issues that the not for profit organization or corporation will need to consider as it writes its bylaws. Given the complicated nature of forming a not for profit organization, it is extremely important to work with an experienced DuPage County business law attorney as you are forming your organization or are revisiting your bylaws.

Business Law Attorney Can Help Address Significant Questions for Drafting Bylaws

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Illinois child support lawIf you live in DuPage County and have been thinking about filing for divorce, you may know that Illinois law recently changed when it comes to child support. In brief, as of July 1, 2017, Illinois now follows the “income shares” model when calculating child support obligations. Under the Illinois Marriage and Dissolution of Marriage Act (750 ILCS 5/505), the court calculates both parents’ combined net income, and then determines the total amount of the child support obligation from the schedule. The court then calculates each of the parent’s percentage share of that child support obligation.

How does parenting time affect each parent’s percentage share of the child support obligation? When parents share parenting time equally, the court is unlikely to adjust a parent’s percentage share of the child support obligation based on parenting time. But what about when parenting time is not shared equally between the parents?

When the “Shared Physical Care” Formula Might Apply

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Posted on in Illinois Family Law

Illinois divorce attorneyWhy do most people in DuPage County file for divorce? We often hear about couples deciding to get divorced after years of marriage, and sometimes the reasons are unclear. While every family’s situation is unique, there are sometimes similarities among the causes for divorce. We have gathered some facts about frequent reasons for divorce from the National Institutes of Health (NIH), MSN, and Divorce Magazine. Many of the top causes for divorce trend across these resources, and we have collected them for you here.

1. Lack of Commitment and/or Support for the Spouse and to the Marriage

Many couples who get divorced cite a lack of commitment from the other spouse—either to the marriage in general, or to the educational, professional, and/or personal goals of the other spouse. According to the MSN article, about 73 percent of couples who get divorced cite a lack of commitment from the other spouse as one of the reasons they filed for divorce. About 62 percent of those spouses indicate that they wished their spouse would have tried harder to make the marriage work, and anywhere from 21 percent to 37 percent of those spouses also blame themselves, wishing they had made their commitment to the marriage clearer.

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Posted on in Estate Planning

Illinois probate attorneyWhen you lose a loved one in DuPage County or elsewhere in Illinois, how are assets of the deceased distributed? How do you handle the debts of your deceased loved one? Many Oakbrook Terrace residents assume that, as long as the person has a valid will, then assets simply can be distributed according to the terms of the will, and the family can begin moving forward after the death. However, it is important to understand that there is more to distributing someone’s assets than simply following steps laid out in a will. To be sure, in most cases, where assets either are distributed according to the terms of a will or the deceased dies without a will, the family members may need to prepare for a formal probate proceeding.

What is involved in probate, and will you need to go through probate in order for a family member’s assets to be distributed?

Probate in Illinois: What Do You Need to Know?

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Illinois real estate attorneyBuying or selling gas stations in DuPage County can be a lucrative business. However, for first-time buyers and sellers, as well as more experienced small business owners, it is important to have a dedicated Oakbrook Terrace small business law attorney on your side. The process of buying and selling gas stations can be complex, and it is a niche industry. With help from an experienced advocate, you can ensure that you are making the best possible deal with all of the necessary information.

Benefits of Comparison: Know What You Are Buying or Selling, and Know What It Is Worth

One of the most important steps in buying or selling a gas station is understanding what the best price might be, and how to read comparison numbers. According to an article in the Business Buyer Resource Center, it is often difficult for small business owners to assess the value of a gas station. Whether you are buying or selling, there are “many variables involved with gas stations for sale,” and as such, “prices and profits vary greatly.”

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Illinois family attorneyIt is important for anyone who is filing for divorce in DuPage County to know that Illinois child support laws have changed. Governor Bruce Rauner signed amendments to the child support laws last year, and those changes took effect on July 1. As such, anyone who gets divorced and has children from the marriage will need to know more about the “income shares” model and how child support payments will be calculated.

Learning More About the Income Shares Model

We want to provide you with a clear example of how the new “income shares” model of child support works in Illinois, but first we want to ensure that you understand what it is. Until the new law took effect, Illinois used a child support system in which only one parent’s income—typically the noncustodial parent—would be considered for child support payments. Then, that parent would pay a percentage based on his or her income, as well as the number of children entitled to support. Recognizing that this system does not take into account the other parent’s financial responsibilities for the child, as well as different and varied models of parenting, the Illinois legislature made changes.

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Illinois real estat lawyerBuying and selling commercial real estate in DuPage County can be extremely complicated, and it is important to work with an experienced real estate attorney who has experience handling complex business transactions. Even if you have sold residential property in the past, and if you have experience buying and selling a home, you should know that the process is different — and much more complicated — when it comes to commercial space.

What Is Commercial Real Estate in Illinois?

Under Illinois law (770 ILCS 15/5), commercial real estate is defined as “any real estate located in Illinois other than (i) real estate containing one to 6 residential units, (ii) real estate on which no buildings or structures are located, or (iii) real estate classified as farmland.” To be clear, commercial real estate cannot be any of the following:

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Posted on in Business Law

Oakbrook Terrace business law attorneys, small business, small business general counsel, business liability, business taxesIf you have a small business in Oakbrook Terrace or elsewhere in DuPage County, or if you are considering starting a small business, it is important to consider having general counsel for your company. You might be thinking: if I simply have a small business with only a couple of employees, do I actually need general counsel?

As an article in the Boston Globe explains, small business—of all sizes and types—regularly encounter legal issues that require the assistance of counsel. When you are trying to run a business, attempting to tackle some of these legal matters on your own can be frustrating and complicated, and in some cases seemingly impossible.

What Kind of Business Should I Form?

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last will and testament, Hajj,  DuPage County estate planning attorneys, Illinois intestate laws, pilgrimageDo you have a last will and testament? Hajj 2017 begins the evening of Wednesday, August 30 and ends the evening of Monday, September 4. Each year, millions of Muslims from around the world participate in the five-day Hajj pilgrimage. Indeed, as an article in the Independent suggests, about two million Muslims are likely to participate in the pilgrimage this year to Mecca. Given that Hajj is one of the five pillars of Islam, all Muslims who are able to make the pilgrimage are required to do so at least once.

Since the pilgrimage comes with physical challenges and requires travel to Saudi Arabia, it is important to have your affairs in order before going to Hajj. As such, if you are planning on going for Hajj, you should speak with a Muslim trusts and estates lawyer in DuPage County today to get started on this process.

Why Should I Create a Will Before Going to Hajj? 

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Illinois business attorney, Illinois business lawsIf you have a small business in DuPage County or are considering starting your own business, why do you need to have a lawyer? A DuPage County business law attorney can consult on a wide variety of issues that your small business might face. While there are many aspects of running a small business that you may be able to handle on your own, it is important to have experienced counsel who can guide you through the issues you are likely to face as a small business owner.

Why Do I Need to Work with a Small Business Lawyer?

There are many aspects of running a small business that you can handle on your own. For instance, choosing a name for your business and even developing a business plan may be relatively easy for you to manage, especially if you have experience in business. However, there are many issues for which it is important to be able to consult with a DuPage County business law attorney. At Farooqi & Husain Law Office, we regularly consult with small business owners on some of the following issues:

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Posted on in Business Law

Illinois business attorney, Illinois business lawsIs your small business healthy when it comes to legal risks and vulnerabilities? It can be exciting to start a small business in Oakbrook Terrace and to begin the process of structuring your business and hiring employees, but many legal complications can arise. When most small business owners hear the term “audit,” they think of a tax audit or an accounting audit. Legal audits are very different. Legal audits refer to a small business owner hiring a DuPage County business law attorney who can review the operations of your business to determine whether you are likely to encounter any legal problems.

When you run a small business, there are already many complicating matters that arise on a daily or weekly basis concerning your company. You should not have the extra anxiety of worrying about whether your business is at risk of a legal issue. A business lawyer in Oakbrook Terrace with experience assisting Muslim small business owners can speak with you today.

What Happens during a Legal Audit?

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Illinois business attorney, Illinois corporate lawDo you have a business in DuPage County and are considering entering into a strategic partnership? Or are you thinking about forming a startup company in the Oakbrook Terrace area and wondering how you can have a mutually beneficial relationship with another small business or company? Strategic partnerships are agreements between two companies that are not in competition with one another, and they are agreements that benefit both companies. If you are looking to grow your company, strategic partnerships can help in a number of ways — from issues surrounding marketing to supply chains to technology.

Strategic partnerships are one way that you can expand, and it is important to learn more about strategic partnerships and, ultimately, how you should structure the deal.

Small Businesses and Strategic Partnership Agreements

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Illinois business law, Illinois employment attorneyIf you are starting a small business in DuPage County or are thinking about expanding your current business to include employees beyond yourself, you are likely to have many questions about the steps you need to take in order to hire new employees. For instance, what kind of information do you need to obtain from the Internal Revenue Service (IRS) before you can hire new employees? What information will you need to obtain from your new employees in order to hire them legally and to withhold federal income taxes from their paychecks? What kinds of information are you required by law to provide to new employees?

At Farooqi & Husain Law Office, we are committed to helping members of the Muslim community in DuPage County create and expand their small businesses, and a DuPage County business law attorney at our firm can answer all of your questions about hiring new employees. In the meantime, the U.S. Small Business Administration (SBA) provides helpful tips for creating a checklist for any small business owner who is planning to hire new employees.

Helpful Checklist for Small Business Owners Who Are Hiring New Employees

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Illinois businee attorney, Illinois business lawsDo you have a business in DuPage County? Do you work with an off-site bookkeeping service? Many Muslim small business owners in Oakbrook Terrace and nearby communities want to ensure the success and profitability of their businesses, and hiring an off-site bookkeeping service is an effective way to save on your taxes, have cleaner books, and ultimately to assess how the business is doing.

At Farooqi & Husain Law Office, our dedicated DuPage County business lawyers have years of experience assisting members of the Muslim community and helping our clients to maintain strong businesses. If you have questions about why you should hire an off-site bookkeeping service, an experienced DuPage County business lawyer can speak with you today.

Dealing with Complicated Business Issues

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