Having been a fixture in Lake Forest and Lake Bluff for 47 years, Semmelman &
Semmelman, Ltd. is not new. But we are taking a new approach!
Our goal is to educate and empower our current clients (and the clients we have
yet to meet) to make decisions in regard to their families, their businesses and
their properties that will serve them well and protect them into the future.
The challenge is to demystify some of what we do and help you understand the importance
of planning and reviewing your options on an ongoing basis.
Our newsletters will be very brief and offer the option of reading the highlighted
subject or viewing an animated video. They’ll also be available on our blog for
your continued reference.
Don’t forget to check out our new, ‘user friendly’, website that will allow you
to view information related to your stage of life right now. And as always, we
welcome your feedback:
Pet Trusts - Do you have a plan?
Leona Helmsley died in 2007. She left $12 million in a trust for her dog,
Trouble. Unfortunately, Mrs. Helmsley's loving gesture towards Trouble may, arguably,
have been somewhat excessive...
Business law update
Where to incorporate or organize? Illinois, or the ever popular Delaware and Nevada?
In a recent case, an Illinois Appellate Court confirmed an LLC member’s personal
immunity for “debts, obligations and liabilities…whether arising in contract, tort
or otherwise”, which importantly includes immunity for acts of fraud if the acts
were committed while acting as a member of the LLC. Dass v. Yale, 2013 IL App (1st)
122520. Although there were relevant arguments that were not raised on appeal,
this holding creates a material advantage for member managers who choose to organize
Visit our web for more details.
SpacerReal Estate Myth:
Holding my real property in my revocable living trust protects me from liability.
We have heard many clients say this, and they are surprised when we tell them
it is not true.
There are many benefits to holding your real estate in trust, but liability protection
is not one of them.
If you own real estate (whether residential or commercial) that you rent to tenants,
you need to consider other forms of ownership that will afford liability protection.
We are loyal and committed to our clients and each other. We will be here for
you every step of the way.
Andrew Semmelman Partner, 47 years with the firm
David Semmelman Managing partner, 29 years with the firm
Kimberly Wisneski Partner, 14 years with the firm