Effective January 1, the Illinois Joint Tenancy Act has been amended to permit revocable inter vivos trusts created by a husband and wife to hold title to the couple's homestead property as tenants by the entirety.
The Second District Appellate Court in Illinois recently published an extensive opinion that summarized and provided the historical background of the state of Illinois law regarding the enforceability of restrictive covenants.
Board members of Illinois condominium and townhome associations have always been concerned about the number of units which are leased in their association.
On October 1,2010, the State of Illinois began a tax Amnesty Program allowing all taxpayers,including aircraft owners, to pay their unpaid taxes without penalty or interest.
While the use of pre-employment credit checks has increased over the past few years, on August 10, 2010, Illinois Governor Pat Quinn signed into law the Illinois Credit Privacy Act ("ICPA").
In order to ensure that an employer gets the full benefit of the restrictive time period in its non-competition, non-disclosure or non-solicitation agreements, employers in Illinois should make sure that such agreements contain "extension clauses."
Illinois businesses should be aware that Illinois House Bill 4923 would radically alter the law regarding non-competition agreements in Illinois by creating the Illinois Not to Compete Act.