Archived
What is the Illinois estate tax/death tax? I recently inherited a home in Southern Illinois. Estate is in probate till 10/15/13.
Paul's answer
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Answered on June 22, 2013
The probate attorney should be handling state and federal estate tax returns, as it is the executor's responsibility to file, and the estate pays...
Archived
I own a private chapel of which I am a minister, the chapel is a 501c3 tax exempt LLC. If all of the income of my chapel goes
Paul's answer
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Answered on June 22, 2013
It is a question of fact, and this certainly seems to be more than an incidental private benefit. See some of the court cases that have considered...
Archived
Can a US Corporation with Indian offices open business checking account?
Paul's answer
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Answered on June 21, 2013
you will probably need to file IRS form w-7 to obtain a taxpayer identification number, although other proof of identity such as a passport may be...
Archived
Is a one shareholder professional corporation incorporated in NY eligible for S-corp status?
Paul's answer
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Answered on June 21, 2013
assuming that the one shareholder is an eligible shareholder, yes you can elect S corporation status
Archived
Can I recant a statement without prosecution?
Paul's answer
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Answered on June 21, 2013
If you really cannot remember, then you are not recanting, just stating that you cannot remember. You may want to consult with an attorney before...
Archived
Do I need a Real estate attorney in Illinois or is the Title Company responsible?
Paul's answer
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Answered on June 21, 2013
yes you need an attorney to defend the lawsuit against you, and to bring a cross claim, if appropriate, against the title company
Archived
Can a Real Estate Broker licensed in Illinois act as Community Property Manager under their broker's license?
Paul's answer
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Answered on June 21, 2013
yes, you can manage properties as an Illinois real estate broker
Archived
Can I sell my home if the bank is considering foreclosure?
Paul's answer
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Answered on June 21, 2013
Yes; the bank's interest is just a lien on the property, as long as the sales proceeds are enough to pay off the bank, they have to release the...
Archived
My wife is a beneficiary of a trust and the trustee is refusing to give her a trustee report without charging a lot.
Paul's answer
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Answered on June 21, 2013
While the trustee is entitled to be paid reasonable compensation, it doesn't sound like the trustee has provided enough information to your wife as...
Archived
Do I have go through probate
Paul's answer
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Answered on June 21, 2013
So far so good, but you will need to at minimum go through the small estate proceedings in Michigan in order to collect the Florida account. Don't...
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