Tuesday, May 1, 2012

New Office Options

It appeared when we last wrote that Priscilla and Patricia’s families were not going to live together.  Instead, Patricia bought a lot to build on that would make it easy to stop as often as she wanted at Priscilla’s house on the way to and from their planned Plainfield office. 

Not quite as good as we’d wanted, but adequate.  Our mother-daughter business was already multi-generational, of course, but we were then renting our office and were ready to own. 

We still wanted our office to be truly convenient for both of us to get to so we could freely share duties and joys as attorneys and grandmother/mother when Patricia expanded her family with children as hoped and Priscilla and her husband lived long and well into their golden years maintaining their five-acre home. 

We looked at ‘office condos,’ vacant land, houses that could be converted, and existing buildings.  Other than having too many choices and high costs (this was before the recent real estate downturn), that part was easy. 

More difficult was deciding how to finance it.  One factor was our relative borrowing powers – Priscilla’s was far stronger than Patricia’s.  But Patricia had recently finished buying the business from Priscilla and Priscilla did not want to undertake a new major business investment.  It certainly was plenty to think about.

Different generations have different resources to offer, so working together sometimes increases what is available to all.  To consider your own family’s futures, please call our office at (815) 436-1996 for an appointment.  ©2012 Gruber Law Office, Ltd.


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