News + Views: Avoid the Pitfalls of Joint Accounts with a Durable Power of Attorney and Living TrustThu, 03/29/2012 - 10:05 — blogeditor
Many people employ the use of joint financial accounts as a matter of convenience, such as an elderly parent placing a child's name on the parent's checking account so that checks and deposits can continue if the parent is travelling or incapacitated.
Many business owners form several types of business entities to hold their assets and operate different aspects of their businesses. A common strategy is to form limited liability companies to hold real estate. The operating entity, such as a manufacturing entity, pays monthly rent to the real estate LLC and this can work to keep liability of the operating entity separate from the real estate LLC.
With all the publicity of the new protections afforded consumers with the passing of the Credit CARD Act of 2009, business owners can be surprised to learn that the business credit card in their wallet is not covered by the CARD Act.
Estate planning for a client's digital assets is an area of law that is still fairly new. However, I have experienced increasing demand by clients for services in this area as we continue to run full speed into the digital age.
This article will briefly identify some of the issues involving digital assets and steps that you can take to protect your digital assets as part of your estate planning efforts.
Recently I celebrated my birthday with my family on a great Saturday evening.
As you may be aware, we recently decided to start a new firm, The Penning Group. We have two offices, one in Detroit (Farmington Hills) and another office in the Traverse City (Suttons Bay) area, serving clients across Michigan, the U.S. and abroad.
You can't take it with you, but do credit card bills follow you into the grave? Does the debt die with you? Or, can it come back and haunt those you leave behind?
Creditors use employer garnishment errors to collect entire debt from employers
Going, Going, Gone!
Have you ever stood at an automobile rental counter while traveling staring at a rental contract trying to figure out what the insurance options mean? “Should I buy additional coverage through the rental car company or am I paying for coverage I already have based on my insurance coverage for my own vehicle?”