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Although people refer to their pets as “members of the family”, “like our children”, etc., they are often overlooked when putting together a will, trust, or general durable power of attorney. Now, rest assured – if you already have an estate plan then you don’t necessarily have to change it. Michigan law considers pets to […]

You may have heard the Latin phrase “caveat emptor” meaning “let the buyer beware.” This is generally spoken as a warning to buyers to not expect much more out of a product than they were able to discover on their own before they bought the product. If nothing was promised, then nothing should be expected.

Many employers are struggling with the new higher salary requirements under the Fair Labor Standards Act (“FLSA”). The new law (going into effect December 1, 2016) effectively doubles the required minimum salary amount that must be paid. The old rule required a salary of $23,660 and the new rule requires a minimum salary of $47,476,

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