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Estate planning for second families often gets overlooked. The irony is that these situations typically require the most planning. In Michigan, a person who passes away without an estate plan will have his or her assets distributed under Michigan’s Intestate Succession statute. This one-size-fits-all approach often misses the mark. These laws rarely take into account […]

If you own a business or advise business owners, you know that having a business partner can be one of the most fulfilling relationships (outside of a marriage). It can help “round out” your skills, give new perspective to your business, and allow the company to grow much faster than it would if you were

Are you comfortable with how your 20 year-old child might spend an inheritance if you and your spouse unexpectedly passed away? According to an article by David Dobbs in the October 2011 issue of National Geographic (“Beautiful Brains”), the human brain is in the process of development from age 12 to 25. Because of the

As a business owner, you may have protected your assets from liabilities by setting up a business entity such as a corporation or limited liability company. But have you protected your personal assets against other liabilities? Business owners have legal risks from business creditors. Risks include a customer who slips and falls on the owner’s

Would you want the assets you have earned during your life going to your child’s creditor or ex-spouse after your death? These are difficult subjects to acknowledge, but they can and do happen. If your inheritance goes directly to a child or loved one (e.g. through a will or trust), those funds become an asset