Several new employment laws go into effect in September and will affect employers in every state. Independent Contractors rules: The US Department of Labor adopted a six-factor test in January for classifying independent contractors under the Fair Labor Standards Act. This replaces the previous two-factor approach. The result is more…
Transfer on Death Instruments, or TODIs, have become a popular estate planning tool in Illinois. They allow real estate to pass directly to named beneficiaries when the property owner dies, all without the need for probate. But what happens if the deceased owner had unpaid debts and the property transferred…
Illinois may soon see a major update to its Small Estate Affidavit process. On June 20, 2025, the Illinois General Assembly passed Senate Bill 83 and sent it to the Governor for consideration. The Governor has until August 19, 2025, to sign or veto the bill. Since the General Assembly…
A new bill, Senate Bill 1667, has been sent to the Governor’s desk and could soon bring meaningful updates to the Illinois Trust Code. If signed into law, this legislation would create additional obligations for trustees, especially regarding document retention and the recovery of unclaimed trust assets. These proposed changes…
A New Era of Tax Policy for Business Owners On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, ushering in sweeping changes to the federal tax code. While the law has drawn national attention for its b roader political implications, it contains several key…
Small business owners and startup founders now have a powerful reason to take another look at Qualified Small Business Stock (QSBS). A new federal law, the One Big Beautiful Bill Act, signed on July 4, 2025, makes QSBS more valuable than ever for growing companies and their stakeholders. These changes…
Many employers rely on confidentiality agreements to protect sensitive business information. But not all confidentiality provisions are created equal, and if your agreement isn’t drafted properly, it may not hold up in court. While courts tend to scrutinize non-compete clauses, confidentiality provisions are usually enforceable, provided certain legal requirements are…
A new federal law, officially titled the One Big Beautiful Bill Act, has introduced significant tax changes that directly impact employers in service-based industries. The legislation, signed into law on July 4, 2025, offers new income tax deductions for employees who earn tips and overtime pay, while also expanding tax…
The recent deaths of Hollywood legend Gene Hackman and his wife of the past three decades, Betsy Arakawa, very close in time to one another have led to a potentially messy situation in which one of Hackman’s children might be contesting his will. The scenario highlights why it’s important that…
Fen Cen Announcement URGENT NEWS…..What Small Business Owners Need to Know Small business owners have been scrambling to comply with the Corporate Transparency Act (CTA), a new federal law requiring companies to disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). However, recent developments have provided temporary relief.…