Illinois Law Blog

Estate Planning Law Articles

Making the right choices for your estate plan is important, especially if you want your estate to avoid the costly process of probate. Learn About Law has estate planning law articles on nearly every subject on estate planning.

How to Fund a Buy-Sell Agreement | Raising Capital to Buy Out Another Owner

How Do Buy-Sell Agreements Work?

In this article, we explain how to fund a buy-sell agreement.  We answer the question, “how do buy-sell agreements work?” and explain alternative methods to raise capital for buy-sell agreements, such as: using life insurance to fund a buy-sell agreement, using a cash account to fund a buy-sell agreement, using a bank loan to fund a buy-sell agreement, and using installment payments to fund a buy-sell agreement.

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What Happens if Co-Trustees Disagree in Illinois? | Co-Trustee Disputes and Litigation

What Happens if Co-Trustees Disagree in Illinois?

In this article, we answer the question, “what happens if co-trustees disagree in Illinois?”  We explain the pros and cons of multiple trustees and co-trustee disputes and litigation in illinois.  We also answer the question: “what happens if co-trustees are deadlocked in Illinois?”

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Stock Transfer Restrictions in Closely-Held Corporations and LLCs | Limitations on the Transfer of Ownership Interests

Stock Transfer Restrictions in Closely-Held Corporations and LLCs

In this article we explain stock transfer restrictions in closely-held corporations and LLC.  We answer the question: “when are stock transfer restrictions beneficial?”  We discuss how to structure stock transfer restrictions in your operating agreement or buy-sell agreement.  We explain various options for restricting transfer of ownership interests including requirements that the board or other shareholders approve a transfer of stock, rights of first refusal for transfer of stock, and mandatory purchase of stock by the company or other shareholders.  

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