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The Law Office of Dionna Reynolds

Chicago Estate Planning Lawyer

833-878-7837
Free Consultation
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  • Home
  • About Us
    • Dionna Reynolds
    • Tanya S. Hurd Jones
    • Judith Smith Stephney
    • Javier Porcayo
  • Practice Areas
    • Estate Planning Attorney
      • Wills and Trusts Attorney
    • Real Estate Attorney
      • Real Estate Attorney – Investor
    • Eviction Services
    • Professional Notary Services
    • Probate and Estate Administration
    • Property Tax Appeals
    • Quit Claim Deed / Deed Filing Service
    • Nonprofit and Business Formations
    • Corporate Lawyer
  • Book Online
  • Blog
    • Top Books on Financial Literacy & Estate Planning
    • The Law Office of Dionna Reynolds, LLC Expands with Downtown Chicago Location and Announces New Book Available for Preorder
    • 🌷“Easter, Eggs, and Estate Plans: Don’t Leave Your Family Hunting for Answers”🐣
    • Exciting News: Our New Downtown Office is Now Open—By Appointment Only!
    • Understanding Mechanics Liens: What Contractors and Property Owners Need to Know
    • Probate Horror Stories: What Happens When You Don’t Have a Will
    • Valentine’s Day for Your Business: Show Your Clients Some Love!
    • The Cost of Waiting: Why Estate Planning Can’t Wait
    • Navigating Complicated Real Estate Matters: Why Buying Without a Deed is Risky and How We Can Help You Sell Property
    • New Year, New Opportunities: Empowering Families and Communities in 2025
    • Empower the Future: Teaching Financial Literacy to Youth & Teens
    • New Federal Reporting Requirement for Illinois Businesses: Are You Ready?
    • Local Attorney Dionna Reynolds Wins $10,000 BMO Celebrating Women Grant
    • Why Estate Planning Is Essential for Homeowners and Their Families
    • Back-to-School: A Perfect Time for Both School Supplies and Legal Documents
    • Rooting for Team USA in the Olympics: A Time for National Pride and Personal Preparation
    • Why Now is a Good Time to Pursue Eviction in Cook County
    • Inflation, Interest Rates, and Your Home Buying Dreams: A Mid-Summer Reality Check
    • Don’t Be Left in the Dark: Birth Order Doesn’t Dictate Caregiving Decisions
    • Summer Safety Tips for Your Home: Stay Cool and Secure This Season
    • Navigating a Shifting Market: Tips for Buyers and Sellers in a High-Interest Rate Environment
    • Understanding Guardianship for Adults: Protecting the Elderly with Medical Conditions and Mental Incapacity
    • Understanding Reassessments in Calumet and Bremen Townships: A Guide for Property Owners
    • Unveiling the Wealth-Building Potential of Trusts: A Simple Guide
    • The TikTok Ban: Implications for Real Estate and the Average American
    • Navigating Evictions: A Delicate Balance Between Protecting Rights and Property
    • Empowering Women During Women’s History Month: The Vital Role of Estate Planning and Entrepreneurship
    • Paving the Way: The Role of Real Estate Law in Advancing Civil Rights
    • Happy New Year from The Law Office of Dionna Reynolds, LLC – Here to Help You Achieve Your 2024 Goals!
    • Honoring Loved Ones During the Holidays: Preserving Family Legacies Through Probate
    • “The Gift of Peace: Why Estate Planning is the Perfect Holiday Present for Your Family”
    • “Year-End Surgeries: The Importance of Estate Planning and Power of Attorney”
    • Cybersecurity Impact on Real Estate Closings: A Guide for Clients Using Fidelity National or Chicago Title
    • Navigating Eviction: A Guide for Landlords to Protect Their Investments
    • Navigating Inflation: Financial Tips from Your Trusted Attorney
    • Why Millennials Should Set Up Their Estate Plan Now
    • The Power of Attorney: Why It’s Essential for Your Peace of Mind
    • What is a Real Estate Land Trust?
    • Do Not Be Discouraged When Buying a Home
    • 5 Tips From Attorney Reynolds on How To Sell Your Home
    • Benefits of Homeownership vs. Renting
    • Five Top Reasons to Hire a Real Estate Attorney
    • Frequently Asked Estate Planning Questions – Volume 4
    • Frequently Asked Estate Planning Questions – Volume 3
    • Frequently Asked Estate Planning Questions – Volume 2
    • Frequently Asked Estate Planning Questions – Volume 1
    • Do Not Call Registry
    • ESTATE PLANNING
    • How to Lower Your Property Taxes
    • How to Contest a Will
  • Contact Us
  • Home
  • About Us
    • Dionna Reynolds
    • Tanya S. Hurd Jones
    • Judith Smith Stephney
    • Javier Porcayo
  • Practice Areas
    • Estate Planning Attorney
      • Wills and Trusts Attorney
    • Real Estate Attorney
      • Real Estate Attorney – Investor
    • Eviction Services
    • Professional Notary Services
    • Probate and Estate Administration
    • Property Tax Appeals
    • Quit Claim Deed / Deed Filing Service
    • Nonprofit and Business Formations
    • Corporate Lawyer
  • Book Online
  • Blog
    • Top Books on Financial Literacy & Estate Planning
    • The Law Office of Dionna Reynolds, LLC Expands with Downtown Chicago Location and Announces New Book Available for Preorder
    • 🌷“Easter, Eggs, and Estate Plans: Don’t Leave Your Family Hunting for Answers”🐣
    • Exciting News: Our New Downtown Office is Now Open—By Appointment Only!
    • Understanding Mechanics Liens: What Contractors and Property Owners Need to Know
    • Probate Horror Stories: What Happens When You Don’t Have a Will
    • Valentine’s Day for Your Business: Show Your Clients Some Love!
    • The Cost of Waiting: Why Estate Planning Can’t Wait
    • Navigating Complicated Real Estate Matters: Why Buying Without a Deed is Risky and How We Can Help You Sell Property
    • New Year, New Opportunities: Empowering Families and Communities in 2025
    • Empower the Future: Teaching Financial Literacy to Youth & Teens
    • New Federal Reporting Requirement for Illinois Businesses: Are You Ready?
    • Local Attorney Dionna Reynolds Wins $10,000 BMO Celebrating Women Grant
    • Why Estate Planning Is Essential for Homeowners and Their Families
    • Back-to-School: A Perfect Time for Both School Supplies and Legal Documents
    • Rooting for Team USA in the Olympics: A Time for National Pride and Personal Preparation
    • Why Now is a Good Time to Pursue Eviction in Cook County
    • Inflation, Interest Rates, and Your Home Buying Dreams: A Mid-Summer Reality Check
    • Don’t Be Left in the Dark: Birth Order Doesn’t Dictate Caregiving Decisions
    • Summer Safety Tips for Your Home: Stay Cool and Secure This Season
    • Navigating a Shifting Market: Tips for Buyers and Sellers in a High-Interest Rate Environment
    • Understanding Guardianship for Adults: Protecting the Elderly with Medical Conditions and Mental Incapacity
    • Understanding Reassessments in Calumet and Bremen Townships: A Guide for Property Owners
    • Unveiling the Wealth-Building Potential of Trusts: A Simple Guide
    • The TikTok Ban: Implications for Real Estate and the Average American
    • Navigating Evictions: A Delicate Balance Between Protecting Rights and Property
    • Empowering Women During Women’s History Month: The Vital Role of Estate Planning and Entrepreneurship
    • Paving the Way: The Role of Real Estate Law in Advancing Civil Rights
    • Happy New Year from The Law Office of Dionna Reynolds, LLC – Here to Help You Achieve Your 2024 Goals!
    • Honoring Loved Ones During the Holidays: Preserving Family Legacies Through Probate
    • “The Gift of Peace: Why Estate Planning is the Perfect Holiday Present for Your Family”
    • “Year-End Surgeries: The Importance of Estate Planning and Power of Attorney”
    • Cybersecurity Impact on Real Estate Closings: A Guide for Clients Using Fidelity National or Chicago Title
    • Navigating Eviction: A Guide for Landlords to Protect Their Investments
    • Navigating Inflation: Financial Tips from Your Trusted Attorney
    • Why Millennials Should Set Up Their Estate Plan Now
    • The Power of Attorney: Why It’s Essential for Your Peace of Mind
    • What is a Real Estate Land Trust?
    • Do Not Be Discouraged When Buying a Home
    • 5 Tips From Attorney Reynolds on How To Sell Your Home
    • Benefits of Homeownership vs. Renting
    • Five Top Reasons to Hire a Real Estate Attorney
    • Frequently Asked Estate Planning Questions – Volume 4
    • Frequently Asked Estate Planning Questions – Volume 3
    • Frequently Asked Estate Planning Questions – Volume 2
    • Frequently Asked Estate Planning Questions – Volume 1
    • Do Not Call Registry
    • ESTATE PLANNING
    • How to Lower Your Property Taxes
    • How to Contest a Will
  • Contact Us
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Legal Definitions (L-Z)

MANAGERS:

A person who is not a member of the LLC but runs the business. This is done when the members of the LLC want a nonmember to run the operations.

MEMBERS:

The subscriber(s) to a firm’s memorandum of association who deemed to have agreed to become a member of the firm, and whose name is entered in the firm’s register of members when the firm is registered.

MEMBERS’ PERCENTAGE INTERESTS:

LLC ownership can be expressed in two ways: (1) by percentage; and (2) by membership units, which are similar to shares of stock in a corporation. In either case, ownership confers the right to vote and the right to share in profits.

MULTI-MEMBER:

A limited liability company that has more than one member.

OPERATING AGREEMENT:

An agreement among limited liability company members governing the LLC’s business, and members’ financial and managerial rights and duties.

ORGANIZERS:

Individuals or business entities that play key roles in forming limited liability companies (LLCs).

POWER OF ATTORNEY (used only if the seller will not be attending the Closing):

A written consent signed by the seller giving the law firm authority to represent the seller during the Closing.

PRINCIPAL PLACE OF BUSINESS:

The primary location where a taxpayer’s business is performed.

PROPERTY:

Any tangible personal items or real estate you currently own (i.e., homes, money, jewelry, artwork, automobiles, etc.).

PROPERTY INSPECTION:

A limited and non-invasive examination of the condition of a property.

PROPERTY INSPECTION REPORT:

A written report with information and color pictures describing the condition of a property. This report is usually valid for sixty (60) days.

PROXY:

A person who is designated by another to represent that individual at a meeting or before a public body. It also refers to the written authorization allowing one person to act on behalf of another.

PURPOSE:

The reason for which the business is created.

QUORUM:

The minimum number of people who must be present to pass a law, make a judgement, or conduct business.

REGISTERED AGENT:

The person designated by a limited liability company to receive legal papers that are served on the company.

RESIDENTIAL DISCLOSURE STATEMENT:

A document owners of residential real estate (single family homes, individual condominiums, townhouses, etc., and buildings with up to four dwelling units) must give the buyer.

RIGHT OF FIRST REFUSUAL:

A contractual right of an entity to be given the opportunity to enter into a business transaction with a person or company before anyone else can.

SHARES:

One of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits.

SINGLE-MEMBER:

A limited liability company that has only one member.

STATE OF ILLINOIS TRANSFER TAX DECLARATION STAMPS:

State tax stamps issued that declare and allow the seller to transfer title of the seller’s property to a new owner (the buyer).

SURVEY OF THE PROPERTY/LAND:

Surveys are used to determine ownership of boundaries and features on a property.

TITLE INSURANCE:

Insurance that protects a real estate owner and financial lenders against any property loss or damage due to any potential liens, encumbrances, or defects on the property.

TITLE INSURANCE COMPANY:

The institution that creates and finalizes the Title Insurance.

TRANSFER DOCUMENTS:

Different legal forms that transfer ownership of a property.

TRUST:

A trust agreement is a document that spells out the rules that you want followed for property held in trust for your beneficiaries.

TRUSTEE:

The person who manages your trust.

WARRANTY DEED:

A document used to legally transfer property from one person to another.

WATER CERTIFICATION:

(City of Chicago properties only). A certificate issued by the City of Chicago Department of Finance stating that the seller’s water account is paid in full so the seller can transfer the account to the new owner.

WILL:

A legal document, signed by you and your witnesses, that sets forth your wishes regarding the distribution of your property and the care of any minor children.

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Client Testimonials

Attorney Reynolds handled the purchase of our condo and was excellent! She made sure we understood every detail and was available for our many questions. I will certainly engage Attorney Reynolds in future real estate matters.

L.S

Super knowledgeable and friendly office of attorneys and staff that area always willing to offer sound advice or just a listening ear. I highly recommend the Law Office of Dionna Reynolds to all my real estate clients both buyers and sellers to ensure they have proper counsel and a smooth transaction!

B.H

I had a great experience working with Attorney Reynolds and her team. They put the clients first, respond fast to messages. If you want a first class experience, contact Attorney Reynolds.

K.J

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  • Address:

    10730 W. 143rd Street, Suite 34

    Orland Park, IL 60462

    Our New Address in Downtown Chicago!
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    332 S Michigan Avenue
    Suite 900
    Chicago, IL 60604
M-F 9am – 5pm
Alternate hours and weekends by appointment only.
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