Posts made in July 2017

3 Reasons to Hire a Business Attorney

Chicago Business AttorneyIf you own and operate a business, you might be wondering if and when you need a business attorney. The majority of the time you need a business attorney to aid you in legal matters involving your business. At McQueeney & McQueeney, we want you to feel confident is seeking legal advice, so we created a list of the three main reasons business owners come to us.

Being Sued- Whether your small business is being sued by a customer or previous employee, you can count on us as your Chicago business attorney. Our attorneys are on your side.

Selling Your Business- When you are selling your business, you cannot just list it as if it were a house. You must go through the proper channels. Our attorneys will make sure the paperwork is correct and the transition of ownership goes as smooth as possible.

Under Investigation- If you find your company is under investigation, we can represent you. We will take your side and defend your business.

When you are in need of a Chicago business attorney, you can always depend on our firm to support your business. For additional information about how we can assist you, contact us at (708) 979-0614 right now.

4 Types of Contract Breaches

Breach of Contract LawyersWhen two individuals or businesses agree to certain terms, a contract is written up and signed by both parties. Since this is a legally binding document and it must be upheld. When someone does not hold up their end of the deal it is called breach of contract. Listed below are the different types of contract breaches.

Minor Breach- This type of breach gets its name when a minor part of the contract is not completed. This breach is small and will not interfere with finishing the rest of the contract.

Material Breach- When one party fails to complete a major part of the contract and prevents it from being finished.

Actual Breach- The non-breaching party is allowed to sue for damages when the other party does not complete their part.

Anticipatory Breach- When one of the parties states ahead of time that they will not complete their part of the contract, this is known as an anticipatory breach because the other party anticipates them not to follow through.

If you feel like your contract has been breached, turn to McQueeney & McQueeney. Our breach of contract lawyers are waiting to get started on your case. Contact us today at (708) 979-0614 and schedule a consultation.

3 Things You Need to Know about Preparing a Will

No one wants to think about who will inherit their assets after they have passed away. However, preparing a will before you pass is the best way to ensure your last wishes are fulfilled. We thought we would share details about the important roles you will nominate the people in your life for.Chicago business law

Executor- Selecting an executor for your will should take some consideration. This person should be organized and able to follow your last wishes to your exact description. They will also be in charge of distributing your personal property to your beneficiaries.

Beneficiaries- Many people name their family members as the beneficiaries. You can name specific people to inherit specific items such as land, jewelry, or anything sentimental.  If you don’t have any living relatives, people often choose a charity or nonprofit to donate their assets once they are liquidated.

Guardians- This one applies if you have young children who will need someone to care for them in your absence. You should consider someone who is a close family member or friend who shares the same values as you do. After a loss of a parent, your child will want someone they know looking after them.

Even though we specialize in Chicago business law, we can help you with your will preparation. Give McQueeney & McQueeney LLC a call today at (708) 979-0614 and schedule a time to write your will.

Different Types of Business Structures

Congratulations on deciding to start your own business! It can be very overwhelming when deciding on how your taxes will be paid and other major factors such as the business structure. Our firm has broken down the most common types of business structures to help get you started.Business Formation Lawyer

Partnership- This structure is chosen when you and another person decide to share the responsibility for the business together. When a business is a partnership, the business itself does not get taxed. Each partner has to report any losses or profits on their own income tax return.

Sole Proprietorship- Commonly chosen due to the fact that one person will be operating the business. This person is responsible for any debts the business may encounter.

Corporation- The business itself can be held accountable for liability and is taxed normally. However, the main benefit of electing a corporate status is removing all personal liability from the equation.

Limited Liability Company (LLC)- Many people choose this structure type because the owners are not personally held accountable for the company’s debt or liabilities. The company is not taxed, just like a partnership.

Take the next step towards your dream of opening your own business by letting us be your business formation lawyer. Schedule a time for a one-on-one consultation with one of our attorneys when you call our firm at (708) 979-0614 today.