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In Michigan, estate planning is essential to an overall financial plan, regardless of your relationship status. A single person with no heirs may think they do not need a will, but if they die without one, the state decides who gets their assets and in what order....
Employers use non-compete agreements to keep their current or former employees from working for the competition. These contracts can help to protect company investments and secrets. Since non-competes exist in almost every industry or type of job, this paperwork can...
Many nursing homes and assisted living facilities in Michigan and around the country charge more than $100,000 per year for a private room. This is an expense that many American seniors will face sooner or later, which is why planning for it in advance is so...
When the time comes to start your business or open a new location, the moment of signing the commercial lease can be thrilling. Rushing into the agreement can sometimes be a detrimental decision, however. Business experts outline some of the key considerations that...
Commercial real estate purchases require Michigan buyers to be at the top of their game if they want to negotiate effectively. You need to feel strong to be strong. Here are some ways to prepare for the challenge. Talk to a lender In residential transactions, real...
Estate planning is a necessary task for those living in Michigan and around the country. Having your wishes carried out as you desire is complex and challenging. The focus of estate planning is the distribution of assets. You assign a trusted estate administrator to...
When it comes to estate planning, the most important decision you will make is who will be the executor of your estate. This person will be responsible for distributing your assets according to your wishes. Michigan does not have strict rules when it comes to an...
A Michigan resident might form a trust during estate planning. The trust gives a third party (the trustee) the right to hold assets on behalf of one or more beneficiaries. When the time comes, the trustee distributes the assets as instructed by the trust. The purpose...
The state of Michigan does not require your company to establish a Limited Liability Company (LLC) agreement. However, many companies establish them as part of their business formation due to their effectiveness as a governing tool. Purpose of an LLC agreement...
Business owners in Michigan have to contend with a lot. Most businesses, both large and small, are likely to be sued multiple times over the course of their lifetimes. If you want to avoid such lawsuits, it's wise to understand some of the most common reasons they...