In our regularly updated blog, we discuss what to expect when you're buying or selling residential or commercial real estate in Michigan. Learn why legal assistance can protect your investment, help save money on your taxes, reduce the risk of litigation, and much more.
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What is Right of Survivorship?When more than one person owns property together they usually own it in equal parts. When one of the owners dies, this leaves the other owners needing to know how this will affect their ownership. The answer will depend on whether the property had something called survivorship. What is Survivorship? Survivorship means that if two... Read More »
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Moving? How to Protect Yourself, Your Belongings, and Your MoneyIf you or a loved one is planning a move, near or far, you may be thinking about hiring a professional moving company. On paper, a moving company will ensure everything you own gets safely from point A to point B — but finding the ideal moving company can be a challenge. Are they reputable?... Read More »
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Homeowner’s insurance coverage DOES NOT extend to your trust. If your house is in a trust, you MUST read this!If you own a home and have a trust, you must understand the recent case decided by the Michigan Court of Appeals. The case is titled Thompson v. Fremont Insurance, and here are the facts: Floyd lived in a house, but the house was owned by Floyd’s revocable trust. When Floyd purchased insurance on the... Read More »
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The Benefits of a Protection TrustFor some business owners, debt is a necessary evil. When everything is going well, the business owner will regularly pay the debt. However, changes in business, the economy and life circumstances can come up which may prevent the owner from paying their creditors and place them at risk of losing their property. For other business... Read More »
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What is a Grantor Retained Annuity Trust, and Should you Have One?Having an income-producing asset can be a significant source of revenue but, depending on how it is owned, can also be subject to estate taxation. One way to minimize tax and continue to receive benefits from this kind of resource is to place it in a Grantor Retained Annuity Trust (GRAT). Here are some facts... Read More »
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Planning for the Family Vacation HomeFor some fortunate individuals, beloved vacation destinations have resulted in the purchase of a family vacation home. Over the years, the home becomes a special retreat where you and your family have celebrated countless milestones and created priceless memories. However, as you plan for the future, you will have to make decisions regarding the vacation... Read More »
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Illegal Foreclosure By Chase Bank: Michigan Court of Appeals Strikes Down ForeclosureMichigan homeowners may be able to challenge their foreclosures as a result of a recent Michigan Court decision. The case is Kim v. JP Morgan Chase Bank, and the Michigan Court of Appeals held that Chase Bank was not authorized to have the foreclosure sale (known as a “sheriff’s sale”) before the bank’s mortgage interest was... Read More »
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Livingston County, Michigan Reverse MortgageMichigan Reverse Mortgage One benefit of modern medicine is that people are living longer. It’s important to have options to ensure your retirement savings will last and that you can be comfortable during retirement. Many times your house is your largest asset. A reverse mortgage allows you to tap into the equity of your home and... Read More »
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The Family Cottage and Your Estate PlanFamily cottages can be places where families can come and enjoy time together throughout their lives. As the owners of this type of property plan for their estate, they will have to make decisions about the future of their vacation property while considering the needs of their family. Here is what you need to consider... Read More »
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Losing your home to foreclosure?Question: I am losing my home to foreclosure. Is there any way to stop or delay the process? Answer: Yes, you may have rights that your lender has not told you about. There are many rules that lenders must follow and, in my experience, they do not always follow them. More troubling is that they often... Read More »