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Planning for the future is an important step for all Michigan families, but it may be especially important for non-traditional or blended families. Having documents drafted and plans in place can help prevent difficult or complicated situations, and it can provide you...
It’s understandable that you try to see the best in your spouse, even if the two of you have encountered irreparable differences in your relationship. It’s natural to not want to think negatively about a person with whom you shared marital intimacy, especially if you...
Divorce can be a scary, angry, and bitter time full of emotions. You joined your life with someone and it didn’t work out. What happens next? What if you lose your children, your home, or half of what you own? There are plenty of questions and the last thing you...
Note: Our firm is dedicated to helping families protect their hard earned wealth regardless of size – We provide basic estate planning for families with modest savings and advanced planning for those with substantial wealth. 1. Wealth Protection. Do you have any rental real estate that is in your individual name or an S corporation? Do you have a single member LLC? This…
Many construction contracts have clauses that require disputes to be handled through alternative dispute resolution (ADR) methods. One of these is mediation. No matter which side of the matter you’re on, you need to fully understand what this means, so you’ll be prepared if you need to use it. When you go through mediation, you and the other party work with…
We have heard from many of our clients that the current COVID-19 crisis has spurred them to reflect and rethink their priorities. These are some simple steps that you can take make sure your estate plan is up to date. PUT ESTATE PLANNING ON YOUR TO-DO LIST If you have been putting off getting your Will and Durable Powers of…
The terms “corporate” and “business” seem to go hand in hand, but there’s a difference between corporate law and business law. These practice areas require specialty lawyers and specific experience. How do you know whether to hire a corporate lawyer or a business lawyer? Read on to find out! CORPORATE LAWYERS Sometimes, corporate lawyers work directly for specific companies. Other…
Going from seeing your children frequently to implementing a visitation schedule will take some adjustment. Considering the new time restraints, the opportunities you do have to spend time with your children may feel more important than ever before. Abiding by the terms of your custody arrangement can provide stability for your children, as well as reinforce your love for them.…
All estate plans share one fundamental goal: create a secure plan that puts beneficiaries in the best possible position. Irrevocable life insurance trusts, known as ILITs, further this goal by protecting your life insurance from the hands of creditors during your lifetime, exempting it from your estate, and reducing your potential estate tax liability. ILITs have many benefits, and very…
One important element of the estate planning process in Michigan involves recognizing those opportunities where one can limit the liabilities facing their estates. Most assume, however, that taxes are one expense they cannot avoid. Yet that may not be the case. First and foremost, Michigan does impose a local estate tax on its residents. This means that there may be…