The Highland Community College Foundation awarded the seventeenth annual Krug-Phillips Memorial Scholarship to Claire Tootelian (Lena). This scholarship is awarded annually to strong performing Highland Community College students in their second year and has been endowed by Lyle and Jane Krug.
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Madelyn N. Greene Memorial Nursing Scholarship
The third annual Madelyn Nicole Greene Memorial Nursing Scholarships have been awarded to Brianne Schofield (Orangeville), Courtney Flemming (Freeport), and Elizabeth Chambers (Freeport). These scholarships are awarded annually to local students who are going into the nursing field and have proven their desire to make a positive difference. These scholarships have been awarded by Nicole […]
Read more...Legal Update Roundup
A number of other new laws and regulations have taken effect recently. Noteworthy changes include: Matured Savings Bonds Due to a recent amendment to the Illinois Uniform Disposition of Property Act, any United States Savings Bonds held electronically by the Illinois State Treasurer, or traditional paper Savings Bonds held by the purchaser, will be considered […]
Read more...Amendments to the Illinois Limited Liability Company Act
The amendments to the Illinois Limited Liability Company (LLC) Act took effect July 1, 2017, and affect all current and future LLCs. The first major change is that the Act now recognizes oral or implied operating agreements where it can be proven that such an agreement existed. Because of this change, a written operating agreement […]
Read more...Successor Agents in Powers of Attorney for Property Do Not Initially Have Fiduciary Duties
It is customary to have a Power of Attorney for Property in an estate plan. In the document, an initial agent is designated as well as successor agents. The document can be effective immediately, but is usually effective upon incapacity of the principal (the person for whom the Power of Attorney was created). It is […]
Read more...Federal and State Tax Update
With the new administration and Congress having recently taken office, we are now in the calm before the storm for news on new tax legislation, but there have been several federal and state tax developments of note: The federal exemption for estate taxes has increased to $5,490,000 from its previous level of $5,450,000. Illinois’ estate […]
Read more...New Illinois Employment Legislation
Several new laws affecting Illinois employers and giving new rights to employees have taken effect with the new year. The new laws include a prohibition on restrictive covenants for low-wage employees, and requiring the paid sick leave, if offered by the employer, be usable by an employee caring for sick family members. Prohibition on Restrictive […]
Read more...The Digital Assets Act and Your Electronic Estate
The Illinois Legislature passed a new Digital Assets Act that became effective on August 12, 2016. Where fiduciaries in the past may have had a difficult time accessing a decedent’s digital assets, this new Act sets forth procedures giving fiduciaries access to the decedent’s digital assets. The Fiduciary This Act applies to an executor, personal […]
Read more...Plager, Krug, Bauer & Rudolph, Ltd. Welcomes Ryan Stodden As Associate Attorney
Ryan is a native of Northwestern Illinois. He graduated from Galena High School where he was a member of the State Championship Football Team and was First Team All–State Linebacker and Tight End. Ryan graduated from the University of Dubuque with highest honors as summa cum laude. While at the University of Dubuque, Ryan competed […]
Read more...2017 Estate Planning Seminar Dates Announced
Estate Planning in 2017 How will Federal and Illinois Estate Tax affect me? Do I need a Power of Attorney for Property and Power of Attorney for Health Care? What is a Living Trust and should I have one? How will I pay for nursing home care—my own assets, long term care insurance, Medicaid? How […]
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