Whenever I am in a group of people and they are aware of what I do, discussion very often comes around to estate planning and estate administration. Everyone seems to have a horror story regarding the administration of a relative’s …
Articles
What Taxes Do I Have to Pay When I Sell Inherited Property?
You received some stock or a house from Mom or Dad’s estate. There was no estate tax on the property at death because the estate was under $5.45 million (in 2016). You now want to sell the property. Although there …
Why Would I Want To Do Estate Planning?
If you are like most Michiganders, you have done no estate planning. It is reported that over 50% of the residents of the state of Michigan have no powers of attorney to care for them and their stuff during their …
Business Exit Strategies Are Critical
The last two weeks, we have been discussing the setting up of your business and protecting yourself from business creditors. One of the most important items that is often overlooked when setting up a business is getting out of the …
Protecting Yourself From Business Creditors
Last week we discussed the organization and setting up of your business. This week we will discuss the operation of your business and how corporations and limited liability companies (LLCs) can protect your personal assets from business debts and lawsuits. …
Choose the Right Entity for your Business
You have worked for someone else all your life up to this point. You are very good at what you do. Going at it alone is what you always wanted to do. You have decided to work for yourself and …
Updating Your Estate Plan is Critical to Its Success
You did your will years ago when the kids were little. You even named a guardian for them in the event you could not care for them. The kids are now in their 40s or 50s and have children of …
Get Proper Advice Before Gifting
We get people who come into our office all the time who have made substantial gifts of cash, vehicles or even their home to loved ones because they believe that is what they should do to protect those assets in …
Medicare Enrollment Starts October 15
Last week, we discussed Medicare Parts A, B, C and D. If you have Medicare, it is now the time of year to review your Medicare plans because the Medicare Annual Open Enrollment Period will soon be upon us. The …
The Alphabet Soup of Medicare
September 15 through 21 is National Medicare Education Week. Scheduled one month before Medicare annual open enrollment starts on October 15, the education week is dedicated to helping you to better understand Medicare. If you are over the age of …