Real Estate Law: Property Tax Appeals in Michigan
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
How I Protect my Family’s Income with Little Additional Expense
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
When Times are Bad. . . or Good.
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
Business Law Update: Are You Aware of the New Cottage Food Law?
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
Commercial Leases: What Landlords and Tenants Should Know
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
UNINFORMED NEWS REPORT: ELIZABETH EDWARDS CUT JOHN OUT OF WILL
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
Michigan Real Estate Law: Property Tax Appeals 101
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
REAL ESTATE PRIMER FOR LANDLORDS: YOUR TENANT STOPS PAYING?
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
Wills and Trusts: Congress’ Failure to Act Forces Estate Plan Reviews
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
Anna Nicole Smith’s Oral Trust Claim Helps Her Estate’s Litigators Not Her Heirs
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