On December 2nd, 2014, the Chicago City Council passed an ordinance that will raise the minimum wage for Chicago workers to $13 per hour by 2019.
Here is the chart of the currently planned wage increases.
https://www.cityofchicago.org/city/en/depts/mayor/supp_info/minimum-wage.html
The Illinois Residential Real Property Disclosure Act is an Illinois statute that was enacted in 1998 with the goal of guarding home buyers against dishonest sellers who falsely report the condition of their real estate property. It is meant to provide Illinois real estate buyers with a reliable representation of the key conditions of a property.
It requires that sellers complete a form entirely, specifically answering numerous questions about a wide range of conditions of their property from foundation to plumbing and everywhere in between. Therefore, it’s always important to talk with an Illinois real estate lawyer.
To learn more about the Illinois Residential Real Property Disclosure Act: http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=2152&ChapterID=62
On June 22, Chicago City Council passed an Airbnb ordinance that would increase taxes on short-term rentals to 21 percent.
To learn more about this ordinance: https://www.illinoispolicy.org/?p=37432
The City of Chicago, in partnership with tenant and landlord organizations, has formed the Rents Right campaign to educate Chicagoans about the legal responsibilities and rights of renters and property owners.
Learn more about it here: http://bit.ly/2dAQccx
This is a great article that was originally posted in the Chicago Tribune: http://trib.in/2dBocWq
Always, seek the consultation of a Real Estate attorney regarding all your transactions related to either selling or purchasing a home.
The Zoning Ordinance Administration Division reviews building permit applications to ensure compliance to the Chicago Zoning Ordinance. Plan reviews are conducted by plan examiners located at City Hall, 121 N. La Salle St., Room 905, Chicago.
Here is a link to their website: Chicago Zoning Ordinance Administration
Here’s a great estate planning article that provide a checklist to help you take care of your family by making a will, power of attorney, living will, funeral arrangements, and more.
However, it is always recommended to consult with an Estate Planning attorney for your particular needs.
http://www.marketwatch.com/story/review-your-estate-plan-against-this-14-point-checklist-2015-07-20
Chicago and Cook County condominium laws are some of the most sophisticated and stiff in Illinois.
Whether purchasing a condo or for condo association legal issues it is important to talk with a knowledgeable Real Estate Attorney to help you navigate the complexities of Chicago condo law issues.
The sale of a home, whether you’re the buyer or seller, is an incredibly complicated process. When you go through a closing for a home, you’ll immediately notice the extensive amount of paperwork that needs to be filled out and finalized.
If you were to attempt this on your own, you may easily make a mistake that is going to be a problem later on. These problems could affect your tax return at the end of the year, how much tax you’re paying or generally the sale of the home that makes it difficult to receive the paperwork that you need.
An experienced Illinois real estate attorney will review and inspect every important document for any mistakes made regarding the documents such as:
They will also answer any questions you may have concerning the sale or purchase of a home.
Many people are novices when it comes to real estate and they may easily make mistakes if they don’t really know what they’re doing when buying or selling. An Illinois Real Estate attorney can answer your questions and assist you through the process of home buying or selling so that it can get done quickly and effortlessly.
In the past people used wills to protect their loved ones after their death and to distribute their property to specific people that they may have had a sentimental (or practical) reason that they wanted as a matter of public record. Wills are far more famous to the general public due to movies and books, while trusts have been used by those who have a certain familiarity with attorneys and the legal system. Now that we live in an information society it is easy to bring information to the public that they can use to their benefit. Living trusts are something that is recommend over a standard will. The federal and state laws that regulate estates and property transfer are extremely complicated, especially where it comes to wills. As such the probate process to adjudicate the will and administer the property is lengthy and oftentimes produces deleterious effects on the family who just lost their loved one. Moreover, it is an expensive process and reduces the value of the estate.
Wills, living wills, living trusts, and other end of life documents are difficult to introduce to healthy people because it requires that they think about their own death or the death of people they love. In order to broach the topic, you have to remind people that as they age they will become less well and may very well end up needing care and special facilities. However, it is a fact of life that we do age and eventually die. It is better to prepare while you are younger so you don’t have to think about these things later. However, it also goes without saying that accidents unfortunately happen to young people.
Having a living trust and a living will reduces the risk for your family. Living trusts are the most common method of avoiding probate. They are sometimes called “revocable living trusts” or “revocable trusts”, in case your tax preparer mentioned them last month. These documents are a legal method of avoiding probate altogether and providing for your family members in the event, not only of your death, but also any extended illness.
It’s alway important to seek the advise of an Estate Planning Attorney to work with you to craft the appropriate Living Trust for your needs.