News

A decade or so ago, before Michigan’s “one state recession” and the more recent depression, the State “streamlined” the process for local units of government to take real property if the owner did not pay property taxes. Finally, the State has followed with an installment plan arrangement to help qualifying owners keep their property. The […]

Families with a disabled minor child are usually vigilant about setting up a plan that will care for and protect the special needs of their child. These families understand the value of setting up a special needs trust that will receive the child’s inheritance upon the parents passing. But special planning is also appropriate for

The local economy remains very strong and businesses continue to grow. I find these are good times for business owners to determine whether they’re protected against risks that could cause major distress to their company. One of them is not having an ownership agreement (also known as a shareholder, buy-sell, or operating agreement) that adequately

For those of you preparing to buy a house or refinance an existing one, you get to be pioneers. Or guinea pigs. Really both. You see, new federal regulations have taken effect that change the way home loans are handled after October 1. Before mortgage lenders had to provide a good faith estimate of closing

Homeowners associations and condominium associations are usually organized under Michigan’s Nonprofit Corporation Act. Condominium associations are also subject to the Michigan Condominium Act and the master deed, condominium bylaws, articles of incorporation, association bylaws of the condominium, and any rules the association has adopted. Homeowners associations are usually bound by a declaration of covenants, conditions

A question that often comes up with clients who conduct their business through a limited liability company (which is most of our business clients, these days) is how to most efficiently add money to the business. By default, many people assume that making a capital contribution to their LLC is the “normal” method to add

Even if your nest is recently empty or down one bird – a mother’s job is never done. Your 18 year-old is now classified as a legal adult. But, we all know, even if your child doesn’t, that your guidance is still key to their success. Be the one to give your child a push

A question that often comes up with clients who conduct their business through a limited liability company is how to most efficiently add money to the business. By default, many business owners assume that making a cash “contribution” to their LLC is the normal and most efficient way of doing it. Under Michigan law, each

With the difference between Medicare and Medicaid straightened out (see my previous article if you missed it), it is good to explore what Medicaid actually covers. A person that is asset and income eligible has three main scenarios in which government benefits may be received. Skilled Nursing Care. I refer to the first as skilled

Last month, I wrote about the interest of business owners in developing a business advisory board to help them grow their companies. In this article, I want to focus on the how-to’s of this process and getting started. It fundamentally begins with the purpose of the board and composition of the group. The business owner