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...
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...
When two business partners end up in a dispute, it can significantly harm the business. There have even been companies that have been forced to close because of this. That’s why it’s so important to find the right business partner when opening your company to begin...
Michigan residents sometimes make mistakes during estate planning. It's important to approach planning your estate with care and diligence. Below are five common mistakes that occur. Breakdown in communication You might tell your heirs how you plan to handle planning...
If you don't plan for your business's future now, obstacles that the company could theoretically overcome could result in its dissolution. For example, as the owner or an executive of the organization, you need to think about what would happen to the business if you...
Becoming a property owner in Michigan is exciting no matter the type of property or your ownership goals. However, it's important to perform due diligence before you sign a contract, especially if you're investing in commercial real estate. What is due diligence? Few...
Probate can be a confusing process when a Michigan resident dies and the estate's assets include a piece of Michigan real estate that is subject to a mortgage. Other types of debts need to be dealt with as well, both before the estate enters probate and while the...