Posts by Brotschul Potts LLC
LLC Operating Agreements
LLC Operating Agreements Why Your LLC Needs an Operating Agreement An operating agreement is a crucial document that sets forth the framework and rules for running a limited liability company (LLC). All members of a limited liability company may enter into an operating agreement to regulate the affairs of the company and the conduct of…
Read MoreResidential Real Estate Closings
Residential Real Estate Closings Changes Are Coming TILA-RESPA Rule Beginning August 1, 2015*, creditors and settlement agents will have new disclosure forms to provide consumers, under a federal law mandating a revision of existing forms. For those of you familiar with the current system, the existing Truth in Lending Act (“TILA”) and Real Estate Settlement…
Read MoreMandatory Minimums in Illinois? (For Noncompetes, not Drug Sentences)
Do you work in Illinois? Do you have a noncompete? Have you had that job for less than two years? Are you wondering if your employer can sue you if you resign and start working for a competitor? If those answers are all ‘yes,’ then you’re not alone. Lawyers and judges are wondering the same…
Read MoreBuyers: Don’t Drown Yourself in a Seller’s Pre-Closing Water Bills
Many people who have bought or sold a property in the City of Chicago limits know that in order for the property to be transferred and the deed to be recorded, a water certificate from the City of Chicago must be presented at closing indicating that the water bill for the property has been paid.…
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