Blog entries

400 Million Reasons to Do Your Estate Plan When You Are of Sound Mind

Robert Miller — Wed, 01 Feb 2012 22:01:31 +0100

Early versions of Obama-Care had older folks making end-of-life decisions with a government-payed counselor on the way into a medical facility. The time to make decisions concerning Patient Advocates and Advance Directives is not on your way into a hospital but rather when you are of a sound, clear thinking mind without the numerous stresses that occur while being admitted into a medical facility.

In addition, by waiting too long you allow yourself to be manipulated by...

Real Estate Law: Property Tax Appeals in Michigan

Adam Bellile — Sat, 19 Nov 2011 02:53:21 +0100

Over the last four years, the State of Michigan, in general, and the communities of Mid Michigan, in particular, have been hard hit by the ongoing national recession. In addition to high unemployment and a shrinking economy, we experienced unprecedented reductions in real estate property values.

As a result of the recession, municipalities and assessors are placed in a unique and unfamiliar position. Rather than raising assessments and property taxes to correspond with hist...

How I Protect my Family's Income with Little Additional Expense

Daniel Rusch — Wed, 21 Sep 2011 19:08:24 +0100

How many people do you know who have been injured in an auto accident to the extent their long-term income has been negatively affected? In Michigan, you're required to buy automobile liability insurance to protect others if you screw up and seriously hurt someone seriously. Because it's required, you cannot legally avoid the cost of that coverage although other optional auto related protection is available at an additional cost.

Despite Michigan’s no-fault law, any long-term pro...

When Times are Bad. . . or Good.

Tom Basil — Fri, 03 Jun 2011 00:17:57 +0100

We have all experienced the tough economic climate over the last couple of years. Nowhere has that been harder felt than here in Michigan where job losses have been reported to be as high as 1 in 5, of the job loss of the nation as a whole, over the last ten years. To put it in perspective, and this is obviously not the actual way the numbers panned out, for every one job the other 49 states lost (one job each) Michigan lost 9.8 jobs during that same perio...

Business Law Update: Are You Aware of the New Cottage Food Law?

Heidi Hendrick — Fri, 08 Apr 2011 01:25:59 +0100

In July of 2010, Michigan became the 18th state to adopt a Cottage Food law, which allows individuals to manufacture and store certain types of foods in an unlicensed home kitchen. Six other states are currently considering cottage food laws, with bills introduced within the last two months.

This law brings new hope for entrepreneurs in a tough economy that may not have the start-up capital to purchase their own industrial kitchen, but have the culinary acumen to make money from ...

Commercial Leases: What Landlords and Tenants Should Know

Heidi Hendrick — Wed, 26 Jan 2011 00:21:56 +0100

Previously, I wrote about the process for a landlord to evict a residential tenant. (See: Real Estate Primer for Landlords: Your Tenant Stops Paying) While the process for evicting a commercial tenant is the same as in a residential setting, the requirements for the lease itself differ greatly. The parties to a residential lease are governed by strict statutory and common law requirements, while parties to a commercial lease are accorded broad latitude in defining their righ...

UNINFORMED NEWS REPORT: ELIZABETH EDWARDS CUT JOHN OUT OF WILL

Robert Miller — Fri, 07 Jan 2011 21:28:53 +0100

All of the major news providers (USA Today, CNN.com, Huffingtonpost.com, etc.) reported that Elizabeth’s will has been made public and she has cut her estranged husband, former vice presidential candidate John Edwards, out of her will.

Indeed the will, which was recorded on December 22, 2010, has been made public. What is newsworthy here is that when a person dies, the original will must be filed in the county in which the person resided at the time death. In Michigan, it is a mi...

Michigan Real Estate Law: Property Tax Appeals 101

Adam Bellile — Thu, 11 Nov 2010 21:24:36 +0100

Never in the history of the State have we experienced such dramatic reductions in real estate property values; the year-to-year declines in property values since 2007 are unprecedented. Residents of Saginaw, Bay City, Midland, and surrounding communities have experienced significant declines in property values.

As a result of the recession, municipalities and assessors are placed in a unique and unfamiliar position. Rather than raising assessments and property taxes to corr...

REAL ESTATE PRIMER FOR LANDLORDS: YOUR TENANT STOPS PAYING?

Heidi Hendrick — Thu, 09 Sep 2010 05:00:00 +0100

The most common issue that arises for a landlord is when a tenant, for whatever reason, stops paying rent. The reasons for non-payment may range from simply forgetting to pay rent a particular month, to unexpected financial difficulty, to not being able to afford the dwelling in the first place. But, in the end, when rent goes unpaid paid, the reasons why may be unimportant.

The first step in the process is to attempt contacting the tenant as soon as the rent is late. Do not let ...

Wills and Trusts: Congress’ Failure to Act Forces Estate Plan Reviews

Robert Miller — Tue, 24 Aug 2010 05:00:00 +0100

This past February, I did a blog discussing the fact that Congress has eight years to fix a problem, but suggested that it would be fixed sometime during 2010. Well, it is now late August, and Congress has still not been able to deal with this problem leaving many taxpayers and families unsure of how to proceed, not to mention their estate planning attorneys. The August 16, 2010, entry in The Wisconsin Law Journal may have summed this up the best: “It’s an old ada...

Anna Nicole Smith's Oral Trust Claim Helps Her Estate's Litigators Not Her Heirs

Robert Miller — Wed, 02 Jun 2010 05:00:00 +0100

The entire Anna Nicole Smith story regarding her claim to her elderly late husband’s estate began in 2007 with her claim her late husband made a oral will or trust granting her much of his wealth. This saga continues with attorneys for her estate vowing to, again, go to the Supreme Court. As was widely reported last month the fight is being carried on so Anna Nicole’s daughter can have an inheritance. So far, she will have to work for a living as the court ...

On Deathbed Actor Dennis Hopper is Encouraged to Divorce His Wife of 14 Years in an Estate ...

Robert Miller — Fri, 09 Apr 2010 05:00:00 +0100

This is a will and trust story gone horribly wrong. Sadly, the circumstance are not that uncommon. Children from a previous marriage and a current wife battling over an estate. The"Easy Rider" star, filed for divorce shortly after revealing he was battling cancer. Victoria Hopper, his current wife, is alleging that children from a previous marriage are attempting to improve their position in the estate plan.

The judge has ordered the fighting family m...

Estate Tax Eliminated? For Now.

Robert Miller — Wed, 10 Feb 2010 06:00:00 +0100

For eight years our Congress has been aware of the need to fix our estate tax problems and for eight years nothing was done. You see, President George W. Bush wanted to eliminate estate tax for good. The best he could do was law that did eliminate estate tax by 2010, because he did not have enough votes to make it permanent. However, even with a Republican controlled Senate and House during his last term, he was unable to make elimination permanent. So, under Bush&rsqu...

No Will? What Really Happens?

Robert Miller — Mon, 04 Jan 2010 06:00:00 +0100

If there is no will Michigan’s intestate succession law (MCLA 700.2101 et seq) determines who the estate is distributed to. I should add, this is not how most people chose to have their estate distributed when given a choice. Essentially, intestate succession is like a default will for anyone who did not prepare one for themselves. If you do not have your own will, here are some basics of “your plan” as set forth in the statutes:

A SPOUSE is provided for as foll...

A Will Does Not Avoid Probate - A Will IS Probate

Robert Miller — Tue, 08 Dec 2009 06:00:00 +0100

Many people considering their estate plan would like to avoid probate. I have found that many who have a will in place believe they have avoided probate. Avoiding probate eliminates unnecessary attorney fees (starting at $2,500.00 and sometimes much more), keeps your affairs private, keeps the court system out of your private matters, and it circumvents the months of delay that is needed for a probate action.

A will is essentially a letter to the judge. It will, by definition, be...

Ryan O’Neal Left out of Farrah Fawcett’s Will

Robert Miller — Mon, 30 Nov 2009 06:00:00 +0100

Our national news media loves headlines like “Ryan O’Neal Left out of Farrah Fawcett’s Will”, leaving the reader with the impression there was something wrong with their relationship. “How could she?” The simple answer is that she (and they) had a good estate planning attorney. Ryan O’Neal has told the press he was with her when she signed and is totally fine with it.

Here is the deal, Ryan O’Neal undoubtedly has a taxable estate with out...

Even “The Dogs” Will Fight Over an Uncertain Will

Robert Miller — Mon, 24 Aug 2009 05:00:00 +0100

Leona Helmsley’s shows what happens when basic decisions are left to the Trustees or Personal Representatives. The Humane Society of the United States, The American Society for the Prevention of Cruelty to Animals and Maddies Fund have has filed suit in New York’s Surrogate Court to overthrow a decision from February 2009 which gave the trustees sole say over what charities receive the Helmsley money. Obviously, they want more.

Remember, Ms. Helmsley died in 2007, leaving n...

Michael Jackson's Will a Mystery to Our Media

Robert Miller — Thu, 09 Jul 2009 05:00:00 +0100

Our major media has been placing so much focus on the "will" of Michael Jackson. This reminds me how many people, including our media, do not really understand the role of a will in a complete estate plan. I have read his will and it has a minor role.

Fox News made headlines indicating that the will excludes his ex-wife (Link to Fox News Article) while CNN explores the fact that Paul McCartney was not awarded rights to The Beatles music (Link to CNN article).

As a...