Posts Tagged "Planning"

When to appoint a patient advocate or draft a living will.

Posted by on Jan 30, 2017 in Estate Planning | 0 comments

The Basics of a Patient Advocate or Living Will We are frequently asked when or if a client needs to appoint a patient advocate or draft a living will.  The simple answer to that question is that everyone should have a patient advocate and that it should be done sooner than later.  Some common reasons that bring people to a lawyer to draft a living will include the following: Declining health Diagnosis with a terminal or serious heath condition Desire to direct another regarding your wishes so that they will be more likely carried out An impending hospitalization or surgical procedure What...

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Jointly Held Property: Good or Bad Idea?

Posted by on Jun 15, 2013 in Litigation, Probate, Real Estate, Tax | 0 comments

A frequent question that comes to us as lawyers is whether or not it is a good idea to maintain jointly held property.  The context of these issues often relate to situations where parents want to put their children’s name on their bank accounts or where siblings hold real estate jointly that once belonged to parents.  These questions about jointly held property come up with regard to all different types of property such as investment accounts, bank account, real property and even interests in debt where a party or parties are owed money pursuant to a promissory note.  Frequently the...

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Buying a Business in Michigan

Posted by on Aug 5, 2011 in Business Planning | 0 comments

Buying a business in any state entails quite a bit of legal, financial and tax analysis.  Will you be buying the stock of the company (membership interest if an LLC) or the assets of the company?  Will your company be organized as a corporation, an LLC, or some other type of business entity?  What taxes and local licenses will be needed?  There are many other issues to sort through, but in Michigan, there are a few issues which are rather unique to purchasing a business within the state.  These local nuances are why an attorney with a great deal of familiarity with Michigan based...

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Corporate Buy-Sell Agreements

Posted by on Jun 28, 2011 in Business General Counsel, Business Planning | 0 comments

Michigan law requires corporations to have certain basic governance documents.  Documents such as Articles of Incorporation and Bylaws dictate the relationships, rights, duties and responsibilities of the shareholders, officers and directors of the corporation.  But these standard corporate documents do not typically contain terms for the liquidation of one or more owner’s interest when circumstances call for such a liquidation. In the context of most publicly traded companies, shareholders have a fairly simple way to divorce themselves from the corporation when they are dissatisfied with...

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