Penning Group Blog

The Penning Group blog is written and edited by the advisors and attorneys of The Penning Group, providing practical business, personal, and legal information. To view blog posts by category, choose a topic area from the sidebar menu.

Friday, March 6, 2009

According to a 2007 census bureau survey, some 6.2% of children ages 5 – 15, a total of 2.8 million children, have disabilities. Individuals with disabilities are living longer than ever. Many disabled children will outlive their parents who support them. The Wall Street Journal published an article on October 9, 2008 titled “An Estate Plan Built for Special Needs”. The piece emphasized the need to make sure that relatives’ estate plans are coordinated. The article pointed out that often times, grandparents and parents of disabled children do not coordinate their plans which can result in a disqualification of the disabled child for certain medical and other supplemental government...

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Friday, March 6, 2009

DIVORCE / SECOND MARRIAGES / FAILURE TO PLAN

LET THE DEATH WARS BEGIN!

If you have been divorced and are now remarried, you should take great caution in planning your estate and assets in the event of your disability or death. If you also have a child or children from a previous marriage or with someone you never married, these are all special situations that should be examined to avoid future problems. No estate plan is just that – no plan. These situations are ripe for conflict and lawsuits when someone plans poorly or not at all. We call these cases “death wars”. These cases literally drain tens of thousands of dollars out of an individual’s estate...

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Friday, February 27, 2009

As recently reported in the February 25 issue of the Oakland County
Legal News

Black
By KATHY BARKS HOFFMAN

LANSING, Mich. The sauvignon blanc was from California, the pinot noir from Oregon.

But the wine served Sunday night with dessert as the nation's governors dined at the White House with President Barack Obama and his wife...

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Friday, February 27, 2009

The following article reports on an increasingly used strategy by individuals representing homeowners whose homes are in danger of foreclosure. In summary, the article addresses situations where a homeowner’s mortgage may have been sold or reassigned between several different companies and, therefore, the original mortgage note and mortgage executed by the homeowner cannot be located. If there is no evidence of a mortgage note or mortgage having been executed by the homeowner, then the bank or lending facility may have a challenge to actually prove indebtedness. The article below...

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Monday, February 2, 2009

February and March are important months for Michigan property owners. Michigan property owners will soon receive a Notice of Assessment in the mail from the local assessor’s office. The large letters in the top right corner will read: THIS IS NOT A TAX BILL, and thus, many property owners take a cursory glance, pleased to see that the number in the Assessed Value and State Equalized Value columns have decreased, and toss it away. When the summer property tax bill arrives several months later, the property owners realize that the property tax due has increased from the amount they paid last year. The Notice of Assessment is one of the most important documents property owners receive....

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