For you doctor's, dentists, and other service professionals out there... time to register your LLC

As of January 14, 2011, the Illinois Department of Financial and Professional Regulation (IDFPR) is requiring Limited Liability Companies formed by dentists, doctors, social workers, clinical professional counselors, social workers, veterinarians, clinical psycologists, marriage and family therapists, or  any other profession licensed by the IDFPR to register with the Department's Division of Professional Regulation. 

Other Digital Assets and Estate Planning

Here is part seven in my series on digital assets and estate  planning.  Interestingly, the rest of the world is picking up on this topic.  Here is a recent article from the new york times on digital assets.

There are a number of other types of digital assets that deserve consideration when planning an estate.  These can be web site accounts or actual assets in digital form.  Here is a brief general survey. 

State of Illinois Security Deposit Rate Set

Okay folks, the interest rate for security deposits on properties covered by the State of Illinois Security Deposit Interest Act (generally, 25 or more units) for 2011 is 0.195%.

Once again, this rate is greater than the Chicago rate, so Chicago landlords governed by both the Illinois Security Deposit Interest Act and the Chicago Residential Landlord Tenant Ordinance should use the Illinois rate for 2011 rentals.
 

City of Chicago Sets 2011 Security Deposit Interest Rate

The City of Chicago City Comptroller, Steven J. Lux, has released the security deposit interest rate for the coming year.  The rate is determined by the City Comptroller based upon the average rates of interest as of 12-31-10 of a number of types of Chase Bank accounts.

The rate to be applied pursuant to 5-12-080 of the Chicago Residential Landlord Tenant Ordinance for leases governed by the periods from January 1, 2011 through December 31, 2011 is 0.073 percent.

I will publish the State of Illinois rate as soon as I learn it.  Keep in mind, last year the State of Illinois rate was higher than the City of Chicago rate, so landlords governed by both the City of Chicago and State of Illinois law should have used the State of Illinois rate.