Chicago's Legal Latte
354 episodes - English - Latest episode: 17 days ago - ★★★★★ - 5 ratingsThe attorneys of Lavelle Law Ltd. address a variety of legal topics.
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Episodes
Fee Shifting Provisions in Contracts
April 12, 2024 14:00 - 17 minutes - 15.4 MBBetween the state of Illinois and federal courts there are well over 200 statutes which deal with fee shifting provisions. They lay out ways in which legal fees may become the responsibility of one party in a lawsuit. Lavelle Law Associates Jodie Upchurch and MaryAlison Mahacek discuss ways that these provisions should be included in contracts and how they can be used advantageously.
Considerations for Starting a Medical Spa in Illinois
March 20, 2024 14:00 - 16 minutes - 14.5 MBBusinesses classified as medical spas have a variety of special considerations that must be adhered to in the state of Illinois. In this discussion, Lavelle Law attorney Eso Akunne discusses critical issues that must be met to operate with state laws. If you are interested in getting involved in this rapidly growing industry be sure to listen to this conversation.
Corporate Transparency Act
March 07, 2024 15:00 - 15 minutes - 13.5 MBBeginning January 1, 2024 most businesses in the U.S. are required to comply with the Corporate Transparency Act. Lavelle Law attorney Frank Portera will share important details about the new Act and how it impacts businesses. He will cover the scope of the Act, deadlines, requirements, and penalties. If you own even a portion of a business, this is an important topic for you to learn about.
The Importance of Employee Handbooks
October 03, 2023 14:00 - 15 minutes - 13 MBLavelle Law Shareholder Lance Ziebell draws on his experience in representing businesses in legal matters as he discusses the importance of having an employee handbook. Lance not only explains why they are important, but what should be included and how to effectively use one to protect your business from legal claims from employees.
Trademark Infringement
August 03, 2023 14:00 - 19 minutes - 16.9 MBLavelle Law Shareholder Matthew Sheahin, an experienced business litigator discusses the importance of establishing trademarks for a business and then details how to effectively use the legal process to defend those trademarks. Matt shares the steps business owners should take while he shares some examples of recent cases involving trademark infringement.
ESOPs as a Business Succession Option
June 15, 2023 14:00 - 16 minutes - 14.3 MBEmployee Stock Ownership Plans are reviewed by Lavelle Law attorneys Steven Migala and David O'Leary, both of whom have extensive experience with this business succession option. ESOPs are a mechanism by which owners can sell their business to employees allowing their legacy to be protected. Learn about the advantages of the approach and some of the mechanisms involved in an ESOP transaction.
Minimize Taxes with Estate Planning Tools
May 23, 2023 14:00 - 14 minutes - 12.4 MBOnce you pass away, your assets, including any businesses you own, can be passed on to your spouse, children, or anyone else you designate. However, they may be subject to taxes unless you prepare a sound estate plan that uses the right instruments. Lavelle Law Shareholder Brian Warens discusses how to minimize tax obligations for your heirs in this detailed estate planning discussion.
Financing Options for Home Buyers
April 24, 2023 14:00 - 15 minutes - 13.7 MBMortgage interest rates have more than doubled in the last year causing some buyers to sit out for now while others look for the best way to finance their new home. Lavelle Law Shareholder Kelly Anderson and Sheila DuPaw of Guaranteed Rate discuss financing a home purchase in today's market including the seller buy-down option. Learn more about this financing tool and other approaches in this informative discussion.
Utilizing Estate Planning Tools for the Succession of Family-Owned Businesses 2
April 21, 2023 18:30 - 16 minutes - 6.94 MBIn part 2 of this discussion, Elizabeth Maine Ellis, a Partner at Lavelle Law, drills down further on the topic of estate planning tools for independently-owned and family-owned businesses. She will look at the topic relative to the life-cycle of the business, retirement planning, and passing a business on to heirs.
Why Your Company Should Have a Shareholder Agreement
April 13, 2023 18:00 - 16 minutes - 14.2 MBWhen people start a business their focus is on the here and now. If a task is not critical, it often gets overlooked or deferred. Lavelle Law Managing Partner Ted McGinn and Associate Meghan Hartnett discuss the importance of creating a sound shareholder agreement right from the start. They'll discuss what should be included and how to make sure all parties are represented and protected.
Utilizing Estate Planning Tools for the Succession of Family-Owned Businesses
March 24, 2023 17:30 - 16 minutes - 7.16 MBEstate planning takes on extra importance when running a family-owned business. Lavelle Law Partner Elizabeth Maine Ellis discusses a series of critical elements that families with a business need to consider to protect the legacy they have built.
Illinois Supreme Court Rulings on BIPA
March 21, 2023 16:00 - 16 minutes - 6.9 MBThe Illinois Biometric Information Privacy Act was enacted several years ago but as often happens with new laws, it is being defined through a series of court cases. Lavelle Law attorney Thomas Fox talks about several of those cases and what the outcomes mean for employers and the future enactment of the law.
Can Student Loans be Discharged in Bankruptcy?
March 03, 2023 15:00 - 15 minutes - 13.5 MBUntil recently, it was very unlikely that student loan debt could be discharged in a bankruptcy proceeding. Lavelle Law attorney Timothy Hughes discusses a new change to laws that provide an opportunity for some filers to have a clearer path to dismissing that debt.
Alternative Approaches to Divorce Pt 3
January 26, 2023 14:00 - 24 minutes - 21.8 MBThis series has focused on alternative approaches to divorce other than the traditional two-attorney courtroom process. Approaches include uncontested divorces, mediation, and collaborative divorce. Following those approaches, our participants discuss the division of property and assets in this final installment. Join Lavelle Law attorneys Patti Levinson and Annette Corrigan and licensed family and marriage therapist Amy Wilhelmi for this insightful discussion.
Filing Bankruptcy Due to Tax Debt
December 27, 2022 15:00 - 17 minutes - 15.1 MBLavelle Law Managing Partner Ted McGinn and Shareholder Timothy Hughes wrap up their series on taxes by discussing bankruptcy as an option for eliminating a tax debt. They will explain what requirements need to be met and outline advantages and disadvantages to using this tactic.
Alternative Approaches to Divorce Part 2 - Parenting
December 17, 2022 15:00 - 23 minutes - 20.3 MBIn the 2nd installment of the Lavelle Law series on alternative approaches to divorce, attorneys Patti Levinson and Annette Corrigan are joined by licensed marriage and family therapist Amy Wilhelmi to discuss parenting responsibilities during and after a divorce. In an alternative approach such as collaborative divorce or mediation, parents can reach agreements on parenting time and decision-making that better protect their children from the trauma of divorce.
Tax Series Pt 2 - Tax Debt
December 16, 2022 15:00 - 19 minutes - 17 MBIn part 2 of the Lavelle Law series on taxes, Managing Partner Ted McGinn and Shareholder Timothy Hughes discuss ways to address a tax debt. There are several options available based on the conditions of the debt. Learn more about them in this discussion.
Alternative Approaches to Divorce Pt 1
December 07, 2022 15:00 - 23 minutes - 20.6 MBDivorce is never an easy process but in some cases it is not contentious. In this first segment of a 3-part series, Lavelle Law attorneys Patti Levinson and Annette Corrigan are joined by marriage and family therapist Amy Wilhelmi to discuss alternatives to the traditional process. They will share thoughts on collaborative divorce, mediation, and other approaches that can be far less stressful and difficult for all involved.
The Tax Audit
December 06, 2022 20:00 - 22 minutes - 19.8 MBWhy are certain individuals or businesses selected to be audited by the IRS? If you receive notification of an audit, how do you proceed? Join Lavelle Law attorneys Ted McGinn and Timothy Hughes as they discuss the audit process in part one of a new 3-part series on tax audits.
Buying or Selling a Business - The Closing
June 03, 2022 20:30 - 18 minutes - 15.6 MBIn the final installment of our 3-part series on buying or selling a business, we discuss the closing. Lavelle Law Managing Partner Ted McGinn, Bill Germanetti, Principal at Impact Business Coaching, Inc., and David Gronski, President, North Coast Capital Advisors, Ltd. discuss what takes place, who attends, and how to prepare.
The Due Diligence Process
April 27, 2022 15:30 - 17 minutes - 15.4 MBWhen businesses are bought, sold, or merge, a due diligence period allows both parties to review all elements of the entities involved in the transaction. Lavelle Law Managing Partner Ted McGinn and Bill Germanetti, Principal at Impact Business Coaching, Inc. take you through the critical elements of the due diligence process.
What is a Letter of Intent?
February 25, 2022 20:00 - 16 minutes - 14.1 MBBefore entering detailed negotiations to buy, sell, or merge businesses, it is advisable to have a clear letter of intent drafted. Ted McGinn, Managing Partner of Lavelle Law, Bill Germanetti, Principal at Impact Business Coaching, and David Gronski, President, North Coast Capital Advisors discuss the important elements of a LOI.
Important Developments in BIPA Litigation
November 09, 2021 22:00 - 16 minutes - 7.02 MBState and federal courts continue to render important decisions regarding the scope and reach of Illinois' Biometric Information Privacy Act or BIPA for short. BIPA is intended to protect the biometric identifiers, including fingerprint and facial identification, of Illinoisans. In this podcast, attorney Brian Massimino digs into the important takeaway lessons from these cases, including the statute of limitations, the risks of mere possession of protected information, and business insurance ...
M&A Intermediaries & Brokers
April 20, 2021 21:00 - 16 minutes - 6.88 MBAn M&A intermediary or broker provides valuable advice to companies who are seeking a sale or acquisition. In this podcast, Steven Migala, Lavelle Law Attorney and Shareholder, is joined by Paul Heinze, President of the Paul M. Heinze Company and an alliance partner in Goldberg Heinze Business Advisors. Steve and Paul discuss the value of working with an M&A Intermediary or Broker when selling your business or growing by strategic acquisition.
Debtor in Possession Financing
March 11, 2021 22:00 - 16 minutes - 13.8 MBBankruptcy laws have been changed whereby it is much easier for a business to reorganize and restructure its debt. But when a business does file for a bankruptcy reorganization, it needs to secure a lending relationship whereby cash flow needs can be financed through the bankruptcy. In this podcast, Lavelle Law attorney Ted McGinn and his guest, Tom Stamborski, president of Liquid Capital of Illinois, discuss debtor in possession financing, what financing options are available, and what steps...
Cash Flow Solutions
March 09, 2021 22:00 - 16 minutes - 13.8 MBThis podcast explores alternative cash flow solutions for companies not involving traditional bank financing. The impact of COVID-19 on cash flow will be discussed, as well as how alternative financing products can address the different cash flow needs that a business may experience. Join Lavelle Law attorney Steve Migala and his guest, Tom Stamborski, president of Liquid Capital of Illinois, as they discuss cash flow solutions in the current business environment.
IRS Penalties
March 04, 2021 22:00 - 15 minutes - 12.9 MBWhen individuals and businesses fall behind on tax filings and payments, they often underestimate how costly the problem can be to fix, in large part due to the significant penalties the IRS assesses in non-compliance. In this podcast, attorney Joshua Nesser discusses the most common penalties taxpayers face and what can be done to resolve them.
Should a Business Owner Rollover Their Equity in a Sale?
March 02, 2021 22:00 - 15 minutes - 13.7 MBAre you thinking of selling your business? An owner’s decision to roll over its equity in a transaction can be a very good one with many advantages. However, selling owners should be cautious before they agree to rollover equity, and they should conduct significant due diligence and negotiations to ensure they are not agreeing to unfavorable terms in the future. In this podcast, attorney Steve Migala discusses the pros and cons to consider before making a decision to rollover equity in the sa...
Small Business Entity Selection, Formations, and Corporate Compliance
February 16, 2021 22:00 - 16 minutes - 13.9 MBIn this podcast, Attorney Frank J. Portera discusses Lavelle Law’s process in forming new companies by explaining exactly what filings are required in order to get your new start-up operating properly. Frank also explains the continuing annual reporting and corporate compliance requirements that are needed for all Illinois companies.
Navigating the Annual Requirements for Investment Advisers
January 13, 2021 19:00 - 16 minutes - 13.9 MBSEC-registered investment advisers must navigate several annual and ongoing regulatory and compliance requirements. Two of the most important investment adviser annual requirements are submitting an annual updating amendment to the Form ADV and conducting an annual review. Failing to comply with these annual requirements can subject an investment adviser to regulatory examinations, enforcements, fines, censures, reputational harm, and other penalties. In this podcast, attorney Samantha Bonama...
Cybersecurity For Your Small Business
November 24, 2020 22:00 - 15 minutes - 13.6 MBCybersecurity is constantly evolving and requires small business owners to implement strategies to protect and secure the data that they store as part of the operation of the business. The majority of businesses were not prepared for the shift in business practices that we’ve seen since the start of COVID-19, including remote working and new technology to accommodate social distancing. Cybercriminals have exploited these new advancements in technology as a means of gaining access to the perso...
What Options Do Illinois Restaurants Have to Stay Open for Indoor Dining?
November 03, 2020 22:00 - 15 minutes - 13.6 MBSeasoned litigator and Lavelle Law Shareholder, Matt Sheahin, discusses the options available to Illinois restaurant owners in challenging Governor JB Pritzker's emergency order that prohibits indoor dining in Illinois restaurants. Matt will explain the Illinois law, the specific emergency order, and the legal options that owners may consider.
Historic Exemptions and Rates for Estate, Gift, and GST Taxes May Not Last Long!
October 07, 2020 14:30 - 16 minutes - 13.9 MBThe current federal exemptions from estate, gift, and GST tax are at an all-time high, but these exemptions and the applicable tax rates could be affected by the upcoming presidential and congressional elections. Any such changes made well into next year could be retroactive to January 1, 2021, and these historic exemptions would be lost. Even without any immediate government action, the current $11.58 million unified credit will “sunset” in 2026, and be reduced to $5 million. In light of thi...
Simple Steps to Prevent Waiving the Attorney Client Privilege
September 29, 2020 21:00 - 15 minutes - 13.6 MBThe attorney client privilege exists to “prevent the disclosure in judicial proceedings of the communications between the attorney and the client.” Its purpose is to encourage open and honest communications between an attorney and client. Like other “privileges,” the attorney client privilege can be waived, which means that an adverse party may be able to read communications that were intended to be confidential. And, that waiver can happen intentionally or unintentionally. Knowing these comm...
Evictions in Illinois During the COVID-19 Pandemic
September 22, 2020 21:00 - 14 minutes - 12.6 MBThis podcast will provide you with an overview of the eviction process in Illinois and how it’s being affected by the COVID-19 pandemic. Joshua Pagan is an attorney in Lavelle Law’s litigation practice group where he primarily handles commercial and business litigation matters and occasionally handles eviction matters.
Corporate Dissolutions
September 15, 2020 21:00 - 16 minutes - 13.9 MBIn this podcast, attorney Ted McGinn discusses closing a business entity that has creditor claims exceeding its assets. Listen to episode 7 of our Bankruptcy Solutions mini-series.
Business Reorganization - Chapter 11
September 08, 2020 21:00 - 16 minutes - 14.1 MBIn this podcast, attorney Tim Hughes provides an overview of the impact and requirements for filing for Chapter 11 bankruptcy protection for a business. Have a listen to this episode of our Bankruptcy Solutions mini-series and explore the options available for your business.
Business Chapter 7 Bankruptcy
September 01, 2020 21:00 - 16 minutes - 13.7 MBIn this podcast, attorney Ted McGinn discusses whether filing for Chapter 7 bankruptcy is right for a business. Listen to episode five in our “Bankruptcy Solutions” mini-series.
Chapter 13 & Mortgage Foreclosures
August 25, 2020 21:00 - 16 minutes - 14 MBIn this podcast, attorney Tim Hughes discusses how Chapter 13 can possibly save a home from foreclosure.
Discharge of Debts – Special Creditors
August 20, 2020 21:00 - 16 minutes - 14 MBIn this podcast, attorney Ted McGinn discusses how creditors’ claims are handled in bankruptcy.
Protection of Assets - Chapter 7 Exemptions
August 18, 2020 21:00 - 16 minutes - 13.8 MBIn this podcast, attorney Tim Hughes discusses what the impact is on the assets of a person when they file for bankruptcy. He will explain what happens to your property if you file for bankruptcy and how to protect your assets. Join us for our second episode in our “Bankruptcy Solutions” mini-series.
Is Consumer Bankruptcy the Solution to COVID-19 Unemployment?
August 11, 2020 21:00 - 16 minutes - 13.8 MBIn this podcast, attorney Tim Hughes discusses whether filing for bankruptcy can help individuals facing harassment from creditors.
The Main Street Lending Program
July 31, 2020 15:30 - 16 minutes - 13.9 MBIn this podcast, Lavelle Law attorney Steve Migala summarizes the Federal Reserve Board's new Main Street Lending Program (Program). The Program operates through three facilities offered to small and medium-sized businesses: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). Each facility is highlighted in this podcast.
Collaborative Divorces During COVID-19
July 28, 2020 21:00 - 16 minutes - 13.9 MBLavelle Law attorney Patti Levinson explains the benefits of using the collaborative process for a divorce during the COVID-19 crisis.
What Should I Do if Insurance Asks for a Recorded Statement After Collision?
July 21, 2020 21:00 - 16 minutes - 14.1 MBMany times, an insurance company will try to obtain what’s called a “recorded statement” after a person is involved in an accident. Attorney Nicholas Dollenmaier explains why that is probably not a good idea and why you should obtain counsel before providing one.
Real Estate Closings in the COVID Era
July 14, 2020 21:00 - 15 minutes - 13.7 MBLavelle Law Attorney Kelly Anderson explains what has changed with real estate transactions in the era of COVID-19 and how buyers and sellers can be prepared for it.
Land Use Law
July 07, 2020 21:00 - 16 minutes - 13.8 MBZoning regulations are designed to maintain community standards while also permitting personal privacy rights. But from time to time, an owner wishes to alter the existing use of a parcel and needs to obtain relief from those zoning ordinances. This podcast, with attorney Ted McGinn, is designed to provide a basic understanding of land use and the procedure to obtain relief.
ESOP Repurchase Obligations in Bankruptcy
June 30, 2020 21:00 - 16 minutes - 13.9 MBAn employee stock ownership plan (an “ESOP”) is a type of employee benefit plan regulated by the Internal Revenue Code (the “Code”) and the Employee Retirement Income Security Act of 1974 (“ERISA”). Employees who are ESOP participants are in many ways treated similarly to shareholders of their company. This applies to bankruptcy as well, which means that ESOP participants are effectively “last in line” and usually get nothing if the company is liquidated. However, recent case law suggests tha...
Parenting Time in Family Law Cases during COVID-19
June 23, 2020 21:30 - 16 minutes - 13.8 MBFor those co-parenting, many questions may arise as to how best to handle the challenges to parenting time COVID-19 may pose. In this podcast, Attorney Colleen Hurley of Lavelle Law discusses how family law cases have been impacted by COVID-19, how courts view co-parenting during this time, and best practices.
Estate Planning During a Crisis to Avoid Crises
June 16, 2020 21:00 - 16 minutes - 14 MBIn times of unrest, having the right protections for your family, business, assets, and other valued possessions are of the utmost importance. Given the tumultuous times in which we find ourselves, an estate plan (wills, trusts, health care/financial powers of attorney, child guardianship, etc.) has become even more important. Without these documents and correct structure, it is almost guaranteed that there will be major problems in the event of an unexpected death or disability. In this podc...