The beneficiary form could pose a serious danger to your financial and estate plan because its importance is frequently overlooked. Unless the estate is the beneficiary, a result which is not reccomended as it results in all of the IRA being subject to income tax at the death of the IRA owner, the IRA will…
As we warned in our blog post of March 11th, 2019 on “The New Perils of Using Electronic Means to Identify Your Workers or Customersâ€, Highland Baking in Northbrook has been sued for potentially hundreds of thousands to millions of dollars in damages in a class action violation of the new biometric privacy laws by…
On January 25, 2019, The Illinois Supreme Court ruled that violations of the Illinois Biometric Information Privacy Act (“BIPA”), the toughest privacy law in the nation, did not require actual damages to be shown by workers or customers, but that very serious damages were presumed where violations occur, up to $1,000/$5,000 per person per incident. Under the…