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Your Life. Your Plan. with Semmelman & Semmelman Law

Topic of the Month: Pet Trusts

September 10th, 2014

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Welcome!

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: info@semmelmanlaw.com.



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...

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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 in Illinois.

Visit our web for more details.

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Real 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.


Extraordinarily Dedicated:

We are loyal and committed to our clients and each other. We will be here for you every step of the way.


About Us:

E-Mail Andrew Semmelman

Andrew Semmelman Partner, 47 years with the firm

E-Mail David Semmelman

David Semmelman Managing partner, 29 years with the firm

E-Mail Kimberly Wisneski

Kimberly Wisneski Partner, 14 years with the firm



900 North Shore Drive, Ste. 250, Lake Bluff, IL 60044 Phone: 847-234-4438
Email: info@semmelmanlaw.com


Blogs, social-media contributions, and publications, in print or in any form of electronic media, by Semmelman & Semmelman, Ltd. and its attorneys should not be construed as legal advice on any specific facts or circumstances and do not create an attorney-client relationship. The contents of such postings are intended for general information purposes only and may not be republished, in whole or in part, in any other publication or media without the express prior written consent of Semmelman & Semmelman, Ltd., to be given or withheld at our discretion.

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