There are a variety of ways to financially support charitable organizations and their causes. The most common are giving cash and making out a check. But, other options (i.e. giving appreciated investments like stock, mutual funds, and real estate) are often better for income tax purposes. Business owners have another option because they own privately …
Business Owners: You Have Another Option For Charitable Planning Read More »
Haans Mulder and Jessica Arends presented a seminar via Zoom on how to have tough conversations with parents or loved ones. Many times a parent will say, “it’s all taken care of” when asking about legal documents, health, and housing wishes. If more information was shared and crucial conversations were held, it could ease the …
COVID has exposed or reminded us of a number of difficult truths and one of them is the fragility of our health. We don’t know when we’ll have serious health issues or pass away. You can proactively help your family or loved ones by setting up an estate plan that gives them a legal roadmap …
Summer is the season for cottages and enjoying lakes. Cottages are places where family and friends enjoy time together and create memories. For many families, cottages are an important part of their relationships and as their children get older, they eventually come back with their own kids. It becomes an experience that can be enjoyed …
Is It Time To Start Thinking About Succession Planning For Your Cottage? Read More »
Please join us for a Zoom seminar to discuss Medicaid Planning for Couples The seminar is on Tuesday, June 23, 2020 at 5:15 pm via Zoom. Please click the below link for details and instructions on how to RSVP. Medicaid Planning for Couples Seminar June 2020
Please join us for a Zoom seminar to discuss Medicaid planning and Asset Protection The seminar is on Wednesday, May 27 at 5:15 pm via Zoom. Please click the below link for details and instructions on how to RSVP. May Zoom Medicaid Seminar
For the last two weeks, I’ve tried to pin down the most important legal issue facing businesses. After seeing new legal developments coming each day from all levels of government (federal, state, and even local), I decided on a different approach. Rather than identify the one key issue, I’m offering more general and practical advice. …
Transitioning a family business to the next generation very often involves gifting ownership. Here are some tips on gifting ownership to the next generation: 1. Gifting needs to be part of an overall succession strategy. While gifting ownership in a family business is very common, it would be very problematic to make a gift without …
The Dos and Don’ts of Gifting Ownership to the Next Generation Read More »
You may have created a trust to protect your assets if you need nursing home care or, you may advise clients who have done this. I am going to call this type of trust a Medicaid Asset Protection Trust. As you probably remember, five years must pass before the assets in this trust are protected. …
West Michigan is blessed with many business owners who are very generous and give to a variety of non-profit organizations and causes. The most common way they give is by making cash distributions from the profits of the business. In other words, the business owner takes a distribution, pays tax on it, and then gifts …
Business Owners: Here is Another Option for Charitable Giving Read More »
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