Blog — Family Business

Wednesday, December 3, 2008

How long will Michigan residents allow special interest groups and lobbyists to continue to glutton themselves while the state’s economy spirals downward with high jobless rates and businesses closing to move to better markets? Apparently, too long.

The latest example of our elected officials lunacy and lack of understanding of basic principles that create economic growth is a proposed law to ban all direct wine shipments by in- or out-of-state retailers to consumers. Making it more difficult for Michigan businesses engaged in retail wine sales is clearly contrary to Economics 101. What’s wrong with responding to a market and demand of a product and making it competitive with...

Read More...
Wednesday, December 3, 2008

The gift card law as highlighted in the below article is a good effort by the state legislature to protect consumers in the state of Michigan. While the intent and content of the law is excellent, it does not protect against a situation where a consumer is holding a gift card for a bankrupt business or a business which is no longer operating. If a business discharges its liabilities in Chapter 7 and ceases to exist, the gift card will be of no value. The best practice for individuals receiving gift cards is to spend them as soon as possible.

- Dan Penning
------------------------------------------------------
...

Read More...
Friday, November 21, 2008

We are pleased to announce that attorney, Dan A. Penning, has become a member of the American Agricultural Law Association (AALA) which is the only national professional organization focusing on the legal needs of the agricultural community. AALA is an independent forum for development of innovative and workable solutions to complex agricultural law problems.

Read More...
Friday, November 21, 2008

Now that we know who our 44th president will be, the landscape has become clear as to what our income and estate tax will be like under the new administration.

Under the current estate tax law, in addition to an unlimited marital deduction resulting in no tax on the death of the first spouse, each individual has the ability to transfer up to $2,000,000.00 tax free to individuals other than a spouse with that credit increasing to $3,500,000.00 effective January 1, 2009. The current law eliminates estate tax for the year 2010 with the reinstitution of the estate tax thereafter with various reductions to the unified credit in January 2011 and thereafter.

President-elect...

Read More...
Friday, November 14, 2008

Suttons Bay Depot Legal News Article About Michigan Wine IndustryCalifornia boasts the largest wine industry of any state in the country. California’s past success and bright future with respect to its wine industry is primarily the result of two factors. First, the wine growers in California implemented sustainable wine growing practices that meet current needs without compromising the livelihood and needs of future generations. Second, approximately 60% of California’s wineries are family owned and operated and have implemented family business succession...

Read More...