G&N Blog | Gallagher & Niemeyer, LLC

Tax credit expires

Wed, 26 May 2010 10:47:06 -0500

The $8,000.00 first time homebuyer tax credit has expired. While this unfortunately will have an impact on some buyers, this nonetheless is an excellent time to buy or sell real estate. Rates are still historically low, and the market itself has stabilized. We are seeing many sellers offer creative options and incentives for buyers. We also are seeing more reasonable lending standards in the community.

Now is a great time to buy OR sell. Please contact us to discuss your options.

Your Digital Legacy

Tue, 23 Mar 2010 09:22:36 -0500

As part of the estate planning services we provide, our attorneys will help you deal with the impact on your children and your finances when you pass away. For decades if not centuries, good estate planning lawyers make sure both are provided for.

One aspect of estate planning that is relatively new, however, is your digital legacy. What happens when you die to your Facebook account, your Linked-in account, your email accounts, and the countless other online accounts most of use each day? Ars Technica ran an interesting article on the policies each of those companies follow when a user dies. Suffice it to say, it would be extremely time consuming and difficult for our survivors to access all those accounts without help.

Each of us needs to take the time, now, to ensure that our family will have continuing access to those online accounts which in many ways help define us.

Of course, you can always write down a list of accounts, user names and passwords. This method is effective, but insecure. Imagine the harm that could come if that list got 'out' and into the hands of someone untrustworthy!

Other alternatives exist. There are several online companies that will provide an online 'digital locker.' These work to store all of your account information for your various accounts in a secure manner. Upon proof of your death or disability, individuals you designate will be given permission to access your digital locker and thus have access to all your accounts, user names, and the like.

One service we have been playing with is Legacy Locker. They offer a free, limited trial account, which Matt is trying now. I will post a full review here in the next few weeks. There are other similar services out there. Whichever one you choose, or whatever method you use, please take the time now to make sure your family has continuing access to your digital presence.

There is also a good post here describing some other services and methods you can use.

Refinancing - We can save you money

Fri, 19 Mar 2010 16:07:41 -0500

In this distressed real estate market, rates are still extremely low. Many homeowners are considering refinancing higher-interest rate loans or loans with adjustable rates into more affordable fixed rate loans. There are three ways we can help you with the process:

1) Contact us with any questions you may have. Normally it is not necessary to hire us to represent you in a refinance closing. However, if anything unusual comes up or you have questions, feel free to contact us. Nine times out of ten, we can answer your question with a quick email or phone call. Better safe than sorry!

2) Talk with one of our recommended lenders. We work all the time with mortgage lenders and can recommend ones we feel that can help our clients efficiently and ethically.

3) Let us order title insurance for you. As the borrower, you can order title insurance from whomever you want - you do not need to use your lender's preferred title insurance company. Our preferred partner, Premier Title, offers competitive pricing, excellent service and will close the loan at a location convenient for you - their office, any First American Title Office, or even your home or business! Contact Matt to order title insurance for your refinance.

Primary Election is 2/2/10 - please vote for judges!

Fri, 29 Jan 2010 09:26:29 -0600

As you are undoubtedly aware, next Tuesday, February 2, 2010, is a primary election day in Illinois. In addition to voting for the governor, senator, congress members and numerous other elected officials, at the bottom of the ballot is a category of candidate frequently ignored - judges.

Judges make all kinds of critical decisions every day - who goes to jail versus who stays free; whether mom or dad get custody of kids; who was at fault in a car accident; and numerous other decisions, big and small. It is the responsibility of all of us as citizens to elect qualified, impartial judges who will make the right decisions.

Please take ten minutes today, over the weekend or Monday to educate yourself about the candidates. Numerous bar associations and other organizations evaluate judges and produce reports and information on the candidates and their qualifications, and this information is all available freely online:

For Cook County residents: VoteForJudges.org

For residents of other counties: Illinois State Bar Judical Evaluations

(For information on non-judicial candidates, an excellent resource is Project Vote Smart)

You may print out anything you want from these pages to bring with you to the polling place on Tuesday.

Chicago Property Tax Relief Program

Mon, 21 Dec 2009 09:31:25 -0600

We just came across the City of Chicago's Property Tax Relief program. It provides a small amount of relief to homeowners whose property taxes increased in 2008.

Qualifying homeowners (based on property taxes and income level) will receive a cash rebate from the City of up to $200.00. However, funds are limited and it is first-come-first-served, so act quickly to take advantage of this program.

The City's web site has more information and an application form.

Illinois Secretary of State starts Emergency Contact Database

Wed, 02 Dec 2009 13:29:23 -0600

In what sounds like a great idea, the Illinois Secretary of State, who issues drivers' licenses and state ID Cards, has started an emergency contact database. Illinois drivers (and ID card holders) can enter into a database emergency contact people. The database will be used by police in situations where you cannot communicate (e.g. car accident or the like).

The database is free, voluntary, and allows you to remove your information if you don't want it in the database anymore. This sounds like a home run to me.

For more information, or to register, visit:

http://www.cyberdriveillinois.com/departments/drivers/ecd/faqs.html

Welcome!

Tue, 01 Dec 2009 22:26:49 -0600

Welcome to our new blog. We'll post information of general interest to home buyers, sellers, developers and those interested in estate planning. Please subscribe to our RSS feed to be notified when we update this page.