For a number of years, estate taxes haven’t been a major planning issue for many people. Since 2012, the amount you can protect against the estate tax (known as “exemption”) has been rising and in the last six years alone, it’s gone up significantly. In 2024, the exemption is $13.61 million per person. But, the […]
Estate Taxes: They’ll Likely Be Changing Read More »
Cunningham Dalman will be hosting an Estate Planning Seminar on Tuesday, April 30, 2024. From 5:30-7:00 pm. Come participate in a conversation about wills, trusts, and powers of attorney, where you’ll have the opportunity to gain knowledge and insights on the following topics. How to ensure your family will avoid the cost and stress of
Estate Planning Seminar – April 2024 Read More »
Cunningham Dalman will be hosting an Elder Law Seminar on Tuesday, March 12, 2024 from 5:30-7:00 pm. The seminar will review the following topics: What planning can be done to protect your assets if your spouse needs care in assisted living or a nursing home. Can planning be still done if your parent is admitted
Elder Law Seminar – March 2024 Read More »
Owning a home comes with a lot of challenges. One of them is incorporating it into your estate plan. It used to be a fairly straightforward process. If you created a revocable living trust, you’d transfer your house to that trust and you were done. Today, there’s a lot more to think about when doing
Estate Planning: How Should You Title Your House Read More »
One of the biggest challenges to qualifying for Medicaid and receiving benefits is divestment. Divestment is when someone makes a transfer or gives away an asset. An example is making out a check to a grandchild or putting a child on the title of your house. As I’ll explain below, there are a lot of
How to Avoid the Pitfalls of Divestment Set Read More »
On November 7, 2023, Michigan adopted a new financial power of attorney law. It joined 29 other states in passing what’s called a uniform law. In other words, Michigan now has a financial power of attorney (sometimes called a “POA”) that’s consistent with 29 other states in the country. In this new law, Michigan has
Legal Alert: Michigan Adopts New Financial Power Of Attorney Law Read More »
Michigan Court of Appeals Affirms SBO Trusts In the recent decision of Hegadorn, the Michigan Court of Appeals delivered good news to married couples facing expensive long term care. It affirmed a Medicaid planning technique that helps married couples preserve their assets. Specifically, it upheld the use of what are called solely for the benefit
Michigan Court of Appeals Affirms SBO Trusts Read More »
Estate planning is in part about having peace of mind that “you’re all set.” In other words, you’ve put together a plan that will play out the way you intended upon your disability or death.If you’ve done an estate plan, you should still ask whether “you’re all set” every once and a while. Getting a
Medicaid in Michigan can help to financially support someone living in a number of different care settings including assisted living. However, Medicaid has particular eligibility rules for assisted living. Also, assisted living facilities are increasingly creating their own requirements for when residents can pursue Medicaid. These challenges make navigating Medicaid and assisted living very difficult.
Medicaid And Assisted Living: What Should You Watch Out For? Read More »
A profits interest isn’t a new concept. But, it’s becoming increasingly more important for business owners. A profits interest is an interest in an LLC (that’s taxed as a partnership) and provides someone with a share of the company’ s profits going forward. Said another way, it’s an interest in the future profits of the
Is a Profits Interest Right for Your Company? Read More »
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