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
Medicaid Planning and Asset Protection Zoom Seminar Read More »
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.
Business During the COVID-19 Crisis Read More »
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 »
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 »
A couple months back, I wrote about the Medicaid Rules, how they apply to your home, and introduced the Medicaid Asset Protection Trust. This month, I would like to further explain the Medicaid Asset Protection Trust and how it is used to protect your home. To start, let’s review the general structure of a Medicaid
Learn How a Medicaid Asset Protection Trust Works to Protect Your Home Read More »
Summer is here and we’ve gotten the weather almost all of us look forward to each year. With our access to Lake Michigan, boating is an important summertime activity. Like driving a vehicle, boating comes with a potential for accidents and liability. If you own a boat and are interested in protecting yourself from this
A Season for Boating Can Be a Season for Liability Read More »
Years ago brokers, life insurance, and annuity sales people used to aggressively push Medicaid annuities claiming this product would protect your assets if you went to a nursing home. In almost all cases, this wasn’t true and the State of Michigan took action to shut down this sales practice. What is a Medicaid Annuity? A
Is a Medicaid Annuity Right for You? Read More »
All sellers focus on the amount they are selling their business for and how they are going to get paid. That makes perfect sense. However, it is rare they spend time planning for how the sale proceeds will be taxed. This could result in a tax savings of approximately 15% and a sizeable amount of
Business Owners: Don’t Forget This Important Item When Selling Your Company Read More »
This is often a difficult decision. Some people struggle because they’d like to name all of their children, but understand that may only complicate the process. Others have a child or person in mind who is very capable, but he or she lives far away from them. Other people don’t have any children or friends
How to Decide On a Financial Decision Maker for Your Estate Plan Read More »
I have a will. Will my family avoid the cost and stress of having to go through probate when I pass? Most likely not. A will is actually used when assets have to be probated at your passing. So, a will does not allow your family to bypass the cost and hassle of probate. I
Frequently Asked Questions about Wills and Trusts Read More »
Fill in the form below to reserve your spot today for each person attending. If you have any questions, please call the office at 616.392.1821.
