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Every estate plan should cover how the client’s assets should be titled once his or her trust has been signed. While there is almost always a plan for the client’s house, life insurance, retirement plans, etc., the client’s business interests are often overlooked. A person’s goals and the type of entity he owns will ultimately […]

A number of years ago I used to write an “Answers” article for a local newspaper. I was looking at some of those old articles recently and realized how little some things have changed in the last 10 years. Even though I tend to gravitate to the new and more interesting topics, some of these

Talking to a parent about their finances and estate planning can be a difficult discussion to start. It’s important to convey that you respect their privacy and are not prying for the wrong reasons. Here are a few discussion points if you are able to start the conversation: • Durable Power of Attorney for Health

So your neighbor just had his land surveyed, and you see stakes on what you thought was your property. Now he’s telling you that you need to move your fence off “his” land. Now what?   Long-held lines of occupation will prevail over a survey, even assuming the survey is accurate. Imagine the chaos if

I don’t usually comment on estate planning matters but a recent Court of Appeals decision on involving an estate planning trust caught my interest. The bank obtained a judgment against an individual based on a personal guaranty. The bank garnished an account that the individual held as trustee under a trust agreement. First, it appears

Due to a new law that took effect on December 31, 2013, it’s now possible to pass residential property to certain relatives without increasing the tax burden on them. This law essentially allows property to be kept in a family longer because the future generation will pay the same level of property tax that the

Buying a house is one thing. Buying land to build a house on is even more complex. Among the issues you need to consider if you plan to buy land to build on: The seller’s title, supported by title insurance A staked survey showing the property boundaries and any easements Zoning as it affects what

A lot of what I do as an estate planner involves helping people to have the most efficient (read: “inexpensive”) method of transferring their estates to their loved ones, or designated charities. One of the most inexpensive ways of transferring assets upon death is with a beneficiary designation. Life insurance, annuities and Individual Retirement Accounts

Transferring a liquor license in the state of Michigan involves three parties: the seller, the buyer and the state. While the state does not take any ownership of the license, it certainly plays a role. Any agreement between the buyer and seller will be scrutinized and ultimately approved or denied by the Michigan Liquor Control

We have seen a few recent developments in condominium association operations. 1. The first is a change in the Condominium Act. An amendment that went into effect in January 2014 requires condominium associations whose annual receipts exceed $20,000 to have an annual audit by a CPA. This requirement applies to existing condominium associations, not just