Michigan Legislature Abolishes Dower

The Michigan legislature recently passed a package of bills abolishing Michigan dower.  Effective 90 days from the date the bills are signed by the governor, dower will no longer exist in Michigan.  Governor Snyder signed the bills on January 6, 20…
Categories: Probate, Real Estate

2017 Estate and Gift Tax Exemptions

The IRS has announced the estate and gift tax exemption amounts for 2017. The lifetime exemption amount for estate and gift taxes is $5.49 million per individual.  That is an increase from $5.45 million per individual in 2016.  This means that an i…
Categories: Estate Planning

Designating A Beneficiary for Your IRA

  Once you turn 70 ½ years old, you must start taking out required minimum distributions from your IRA.  However, if you do not withdraw all of your money from your IRA before you die, naming the right beneficiary for your IRA can keep it grow…
Categories: Estate Planning

Federal Judge Blocks New Overtime Rule

On November 22, 2016, a Federal Judge in Texas issued a nationwide injunction to block the new Department of Labor overtime exemption rules from taking effect. The Department of Labor regulation, previously set to take effect December 1, 2016, would…

Social Security Changes Impact Divorcees

Effective November 2, 2015, the Bipartisan Budget Act of 2015 changed Social Security rules for claiming spousal benefits.  Prior to these changes, an ex-spouse could file for spousal benefits once their ex-spouse turned 62 years old, regardless of…
Categories: Family Law

Funding Your Trust

Congratulations! You’ve put in place a Trust for your Estate Planning needs to ensure that your Estate will avoid Probate as well as allow you to control how and when your assets will be distributed after you have passed away.  Time to file aw…
Categories: Estate Planning

Failure to Change Deceased Insurance Policy Holder Can Void Coverage

In a recent opinion of the Michigan Court of Appeals, the Court held that the failure to change the named insured on a homeowners’ policy voided coverage. In 2002, Robert McGowan, Sr., purchased a homeowners policy on his cottage with himself as t…

Can I Completely Disinherit My Child?

In a letter to Ann Landers a writer from Manasota, Florida wrote to deliver a message to children and grandchildren: “YOUR INHERITANCE IS NOT AUTOMATIC.  IT’S A GIFT.”  When it comes to estate planning, many people feel this way,…
Categories: Estate Planning

"Vicki's Corner" - How Can I Make Sure That My Medical Provider Has My Patient Advocate Form?

“Vicki’s Corner” is designed to help our clients find comfort in knowing there is a place they can turn if they find themselves needing to address questions that require the input from a social or medical worker perspective.  This…

The Importance of Your Business' Annual Filing

Previously we have written about why it is important to hold an annual meeting for your business, which you can read here.  For this post, we are going to discuss an annual requirement of running a business in Michigan that is simple, yet crucial: f…
Categories: Business Law

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