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If you are a business owner, and are starting to think about transitioning the business to a younger generation, you might want to consider whether a deferred compensation agreement would help you attain your goals. Basically, a deferred compensation agreement is based upon the belief that a certain key employee is worth more to the […]

No one likes to pay taxes so getting a property tax break for one’s principal residence is popular. And taken for granted. And, given that we live where many people like to vacation, renting the home out for a couple weeks while you get away can seem like a good idea. Be aware though that

The types of assets that someone can keep and still attain Medicaid eligibility were reviewed in Medicaid Series Part 4. Other articles will follow about the nuances and considerations involved in keeping a home while a loved one is receiving care in an assisted living community or nursing home. But, it is important to first

For years, I have bemoaned the fact that my clients were unable under Michigan law to be confident that their wishes with respect to their own funeral and burial arrangements would be honored. The fact is, Michigan gave total control over funeral and burial arrangements to the next of kin. Hard as it is to

The time is upon us where some may never relate to the feelings associated with digging through an old box of photographs. That box of photos has become files on Facebook and Instagram. Those who don’t post every photo on social media may store those photos on web-based backup systems. The old hand-written letters we

In “the old days”, which in terms of estate tax law, wasn’t that long ago, the estate tax rate was 55% and the exemption $600,000. In those days, we advised cilents to adopt AB Trusts in order to keep at least $600,000 out of the taxable estate of the surviving spouse. Fast forward to 2016.

As pretty much the entire world knows by now, Prince Rogers Nelson (better known simply as “Prince”) died on April 21, 2016. Lauded for his brilliant talent as a singer, songwriter, and multi-instrumentalist, Prince will be remembered and written about for a long time. Today, however, I write about Prince for a different reason: according

The time is upon us where some may never relate to the feelings associated with digging through an old box of photographs. That box of photos has become files on Facebook and Instagram. Those who don’t post every photo on social media may store those photos on web-based backup systems. The old hand-written letters we

Many states give property tax breaks to those who are residents of the state, and deny those breaks to people who are not residents. Individuals and married couples filing joint tax returns can usually have only one principal residence. The tax breaks are big enough that some people cheat, claiming residency in more than one

This is one out of a multitude of questions that a family looking to apply for Medicaid (the type that pays for nursing home care, in-home care, or assisted living care) has when I first meet with them. Sorting through the various rules and implications of Medicaid eligibility is a big chore that starts with