Blog — Family Business

Sunday, August 11, 2013

The Michigan legislature recently added an exemption to the definition of "Transfer of Ownership" under the uncapping provisions of the General Property Tax Act. The new law provides that beginning December 31, 2013, transfers of residential real property from a transferor to a transferee who is related by blood or affinity to the first degree are not "transfers of ownership" and do not "uncap" the taxable value of the property provided that the use of the property does not change following the transfer. (MCL 211.77(a)(7)(s))

It is important to note that any previous transfers already completed from parents to children or from parents and/or children to trusts or limited liability...

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Tuesday, July 10, 2012

While they have their uses, there are problems with relying on legal self-help websites in place of expert advice, writes Peter I. Minton, founder and president of Minton Law Group. These sites aren't able to provide specific advice about your company and they won't be able to point out ongoing legal problems, he explains. And many people who try to save money by avoiding lawyers often face difficulties later.

Case in point: recently, a potential client was seeking information regarding a business she had founded with several partners. Since...

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Wednesday, June 20, 2012

Don't Forget to Pack Your Cottage App!

Lake Cottage AppIt's great to have the Cottage season stretched out in front of us for the next few months. The pace changes a bit when the focus is directed towards spending time at the family cottage. My family isn't any different from any other family at this time of the year. Another school year has closed behind us and the boys are transitioning to summer jobs and their favorite summer sports. Even Casey. Except Casey's favorite summer...

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Wednesday, June 13, 2012

Boating goes wrongAll states, and in certain circumstances the federal government, regulate the  use and enjoyment of watercrafts of all kinds on water located within or contiguous to any particular state.  Although this writing concentrates on the State of Michigan, if you plan on boating this summer in your own state of residence or another that you will be visiting, I encourage you to take the time to familiarize yourself with the "rules of the water" to protect you, your family and your friends as you...

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Wednesday, June 6, 2012

As many of you are aware, one of my twin 17-year old sons, Casey, is autistic.  Casey was first diagnosed with his condition 13 years ago at the age of 4.  Since that time, children suffering from autism have been diagnosed at record rates across the country.

The first reaction any parent has when their child is...

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