Samuel J. Tamkin

2 days ago | arcamax.com | Ilyce Glink |Samuel J. Tamkin

Reader comment: Recently I came across an old column of yours regarding a sibling squabble. One sibling sought your advice regarding suing the other for reimbursement. I thought your advice was quite sound. I have been in a similar situation, ate my losses and moved on. I have also been to small claims court twice. Once to recover back rent from a tenant and on another occasion to recover funds paid for goods that were never delivered.

1 week ago | arcamax.com | Ilyce Glink |Samuel J. Tamkin

There has been a lot of news concerning the secondary mortgage market, specifically Fannie Mae and Freddie Mac. While President Trump was hinting he might allow Fannie Mae and Freddie Mac to go public, after 20 years of conservatorship, Freddie Mac announced a major update to how they approve mortgages. The company plans to use artificial intelligence to not just underwrite loans, but make the final approval on whether an applicant should get approved.

1 week ago | arcamax.com | Ilyce Glink |Samuel J. Tamkin

Q: My husband and I are in our mid-70s. I am trying to get our affairs in order so our sons will not have trouble when we do pass away. I have done two things as suggested by my retired attorney brother. First, we have gone through all of our accounts (banks, investing accounts, retirement plans and Treasury Direct account). We checked each account and set up a primary beneficiary and also contingent beneficiaries.

2 weeks ago | arcamax.com | Ilyce Glink |Samuel J. Tamkin

Q: I have tried to find out when and why the income level on the senior citizen’s tax freeze occurs. I have asked the Cook County tax assessor, as well as a couple of township tax assessors, as well as Realtors, and no one seems to know what triggers an increase in the income level. It would make sense if it was tied to the inflation rate, or the increase in annual real estate taxes, or it is tied into Taxable income for this aging segment of the population. Do you have any insight into this?

2 weeks ago | arcamax.com | Ilyce Glink |Samuel J. Tamkin

Q: My father-in-law passed away recently, and his beneficiaries are his second wife and his three daughters from his first marriage. His second wife will receive a fixed amount, with the rest of his assets divided equally among the three daughters. His nice home will also be sold. His second wife wants his daughters to take ownership of the home. Is this best for the daughters, and would it complicate things? A: We’re sorry for your loss.