Monthly Archive
for: ‘October, 2011’

Oral Lifetime Employment Contracts

Under Illinois law, “no action shall be brought … upon any agreement that is not to be performed within the space of one year from the making thereof, unless … in writing and signed by the party charged.” 740 ILCS 80/1 The statute of frauds prohibits oral contracts that cannot be performed within one year […]

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Current Estate Taxes

Federal: The Tax Relief, Unemployment Insurance, Reauthorization, and Jobs Creation Act of 2010 was passed by the United States Congress on December 16, 2010 and was signed into law by President Obama on December 17, 2010. Pursuant to the Act, the following changes to the estate and gift taxes were introduced: For decedents dying in […]

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