Deferred Compensation Plans
Kerry M. Lavelle and guest Steve A. Schoenbrun • September 19, 2024
Owners of closely held businesses can learn about deferred compensation plans that provide opportunities to increase their tax-deferred retirement contributions. Steven A. Schoenbrun of Midwest Benefit Consultants, Ltd. discusses different plans that are IRS-approved and provide owners with the chance to increase their contributions. Attorney Kerry Lavelle adds insight into how these plans can be of benefit to owners and executives.
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Lavelle Law News and Events
The Department of the Treasury and the Internal Revenue Service recently issued a notice announcing upcoming regulations and providing guidance regarding Trump Accounts, which are a new type of individual retirement account (IRA) for eligible children.
How do you choose the right attorney or law firm for your needs? Attorney Kerry Lavelle has refined his answer to this common question into a clear, two-part test - one that helps individuals and businesses identify legal representation that is both highly competent and truly client-focused.
Daday and Kish discussed the essentials of Illinois condominium and common interest community association law. The presentation highlighted recent legal updates impacting HOA operations and addressed key issues in collections and safeguarding the financial interests of the association.
While Illinois law recognizes that grandparents can play a vital role in a child’s life, it also strongly defers to the rights of parents. A grandparent seeking visitation must overcome a high legal threshold and demonstrate that denial of contact would likely harm the child’s well-being.
The 2025 Lavelle Law Charities Food Drive wrapped up excitingly on October 24, 2025! After weeks of heartfelt community giving, Lavelle Law team members personally delivered an enormous haul to the Schaumburg Township Food Pantry.
Impact of Partial Government Shutdown on IRS – Day 41: Due to the current lapse in appropriations, IRS operations are limited. However, the underlying tax law remains in effect, and all taxpayers must continue to meet their tax obligations as normal.
$65 Million Sale of Business – a Lavelle Law Success Story. We were able to effectively negotiate the terms of a complex sale in a manner that enabled both buyer and seller to achieve their objectives.
Explore the nuts and bolts of condominium law and gain actionable strategies to navigate today’s condominium and HOA challenges in Illinois.
The Illinois General Assembly enacted Public Act 1738, amending several provisions of the Illinois Code of Civil Procedure to raise debtor exemption limits effective 1.1.26. The new law provides expanded protection for residents, marking the most significant increase to the state’s exemption statutes in over a decade.
A crucial estate planning tool that many people in Illinois overlook is putting their home in a trust. Placing your house in a revocable trust offers multiple benefits. It avoids probate, which can save your family time and money after your death.
