Gateville Law Firm

Oswego Rental Property Owner Lawyers

Boulder Hill landlord estate planning lawyer

Rental Property Attorneys for Eviction and Landlord Matters in Oswego, Boulder Hill, and Kendall County, Illinois

Landlord Evictions, LLC is owned by Gateville Law Firm, and we have offices in Yorkville and Kendall County. Our law firm serves the interests of rental property owners and landlords in Oswego, Bristol, Yorkville, Newark, and Boulder Hill in Kendall County. Our offices are local, and we are available for in-person meetings, Zoom, and phone calls. We offer complimentary consultations.

Property Evictions in Oswego and Kendall County Exclusively for Landlords and Rental Property Owners

Landlords have unique legal needs, such as residential evictions, asset protection, business formation, and estate planning concerns. The attorneys and staff at Landlord Evictions, LLC proudly serve rental property owners, property managers, and landlords in Kendall County.

Business Formation Services for Rental Property Owners and Landlords in Oswego, Illinois

The economy is near a recession, and landlords are likely to experience lawsuits and tenant issues such as non-payment of rent. Wise landlords should strongly consider setting up limited liability companies (LLCs) and developing asset protection plans to protect their personal assets from liability claims of renters and creditors.

During the 2008 recession, many successful landlords lost their rental properties because of lawsuits and improper asset protection. The founder of Gateville Law Firm and Landlord Evictions, LLC gained significant experience representing property owners and landlords during this time. The benefit of an LLC is the protection of one's personal assets against liability claims.

Landlords should strongly consider setting up one LLC per rental property (or some variation of this strategy). An LLC is a mixture between a corporation and a partnership. For tax purposes, an LLC is disregarded, which means that a business owner will file taxes in their individual name (or their family's name).

Asset Protection Strategies for Landlords and Rental Property Owners

Landlord Evictions, LLC focuses on asset protection and estate planning for property owners and rental property investors. Many estate planning attorneys fail to understand real estate and title issues. Real estate attorneys may fail to grasp proper estate planning and asset protection strategies. Real Estate Legacy Law is an area of practice designed by Landlord Evictions, LLC, and it covers the gap in the law between real estate and estate planning lawyers.

Proper Estate Planning for Property Owners in Oswego, Boulder Hill, and Kendall County

Estate planning is an absolute must for rental property owners. Avoiding probate court is essential, and real estate properties often result in lengthy and costly probate court cases. Court cases can cost thousands of dollars in legal fees, and they may produce headaches that can be avoided with proper planning.

A Living Trust is an estate planning tool like a Will that explains how a person wants to distribute their properties and other assets upon their death or incapacity. Unlike a Will, a Living Trust (otherwise known as a "Revocable Living Trust") does not go through probate court if it is properly structured. The benefit of a Living Trust is the avoidance of court procedures and the minimization of taxes and attorney's fees.

Rental property owners also should consider setting up Land Trusts and/or LLCs to shelter their property. Generally, each property should have its own LLC. The purpose of a land trust is to keep liens and judgments from affecting the owner's personal property. The LLC and the land trust work together, because the LLC will be the beneficial owner of a rental property. This arrangement maximizes asset protection and minimizes liability concerns.

Sale and Purchase of Real Estate by Real Estate Property Investors and Rental Property Owners

Landlord Evictions, LLC is owned by a real estate law firm that has over 50 years of title insurance experience among its real estate staff. This level of experience is critical, and it adds to the credibility and abilities of our real estate attorneys. Title insurance deals with title issues that may impact the sale or purchase of investment or real properties. This provides our firm with the real estate experience that other law firms lack. Our real estate team has closed thousands of transactions over a 25-year period.

In summary, Landlord Evictions, LLC provides comprehensive legal help with residential evictions, landlord asset protection, estate planning, and real estate closings for the benefit of property owners and real estate investors. Property owners and landlords require a law firm that has the skill and breadth of experience to assist with their unique needs. Call us at 630-780-1034 or reach out via our online contact form.

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