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illinois: A New Twist to Estate Planning in Illinois - PowerteamHomes.com - 11/21/11 04:45 PM
 
 
 
A new law will soon make it easier to transfer residential real estate upon death while avoiding the time and cost of going through probate.  Governor Quinn recently signed into law the Illinois Residential Real Property Transfer on Death Instrument Act which takes effect January 1, 2012. 
 Under the Act, an owner of residential real estate may execute a Transfer on Death Instrument (“TODI”), which allows the property to pass to one or more designated beneficiaries upon the death of the owner.  The designated beneficiary could be an individual, corporation, trust, partnership, limited liability company, or a … (1 comments)

illinois: Alert !- Fake Short Pay Letters are coming up everywhere - Powerteamhomes.com - 10/17/11 06:53 PM
We are all aware of schemes in short sales from “Flipping” to “Flopping” and many others; now something else for Realtors to worry about: fake short pay letters from lenders. Nothing worse than having written a few contracts with a buyer and have the “good” one fall apart before the closing just because it was a scheme: so much work, time and effort and no payday. Here is a real example to keep in mind.
The seller was in the process of negotiating a short sale with his lender, Bank of America,through the services of a third-party short sale negotiation company. … (2 comments)

illinois: Initiative to eliminate 8109 Federal Tax Deposit Coupons beginning in 2011 - PowerTeamHomes.com - 11/29/10 11:48 AM
The U.S. Department of the Treasury recently announced an initiative designed to increase the number of electronic transactions and reduce the amount of paper processing done by the agency. The newprogram will reduce dependency on paper in several ways, one of which impacts Form 8109.
Electronic Federal Tax Payment System Businesses currently permitted to use Form 8109 federal tax deposit coupons for deposit of payroll tax liabilities will be required to use the IRS Electronic Federal Tax Payment System (EFTPS) beginning in 2011. The only exception will be very small employers whose tax liability is less than $2,500 quarterly.These employers will … (0 comments)

 
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Paul N. Paterakis Lake Zurich, Long Grove, Hawthorn Woods, Kildeer Real Estate

Lake Zurich, IL

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The Paul Paterakis Power Team-Remax Showcase Homes For Sale

Address: 7159 RFD, Long Grove, IL, 60047

Office Phone: (847) 388-7551

Cell Phone: (847) 366-3455

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