The family cottage traditionally holds a sentimental place for many people. It is the gathering spot for families, bringing back fond memories as a child growing up, as parents with your children, and as the family patriarch and matriarch. Often, people desire to keep the cottage within the family for generations to come, to continue to provide a place for everyone to gather together and feel as one. This view is often held by the senior generation, envisioning their children, grandchildren, and subsequent generations bonding together at this special gathering place. Despite these fond memories and the desire to maintain the family cottage, there are challenges to consider.
Developing a plan for the succession of your family cottage is imperative in order to avoid, or at least have mechanisms in place to deal with, potential problems and conflicts in future generations.
Continue reading Planning for Your Family Cottage
Fraser Trebilcock’s Summer 2014 Estate Strategies newsletter contains valuable information on a variety of Trusts and Estates topics, including:
- An important deadline extension that could help you save money on estate taxes.
- Planning for your family cottage.
- The potential pitfalls of Do-It-Yourself estate planning.
Continue reading Estate Strategies Summer Newsletter
While protection from creditors for “retirement funds” is available when filing for bankruptcy, the Supreme Court ruled on June 12, 2014, that inherited individual retirement accounts (IRAs) are not protected from creditors during bankruptcy proceedings as they are not “retirement funds”.
Continue reading The Supreme Court Rules Inherited IRAs Are Not Protected During Bankruptcy Proceedings
Every 67 seconds, someone in the United States develops Alzheimer’s Disease. It’s the sixth leading cause of death, killing more people than breast cancer and prostate cancer combined.
For many of us at Fraser Trebilcock, the fight against Alzheimer’s is personal. Some of us have held the hand of a loved one, a close friend, or a grieving client, dealing with the devastating effects of Alzheimer’s disease. Our Trusts and Estates department is proud to be leading the Fraser Trebilcock team at the Walk to End Alzheimer’s event this fall.
Continue reading Join Team Fraser Trebilcock in Lansing’s Walk to End Alzheimer’s in September
“Imagine airplanes taking off and landing using the airspace “easement” that starts a mere 3 feet above your roof – and an airport authority offers minimal “just compensation.”
In a challenging case, attorney Kirby Albright used a bright yellow yardstick in his closing argument to demonstrate how close planes were permitted to fly over a client’s house. He and his team, with an expert real estate appraiser, put forward the position this was a “total take” of the property, and the airport needed to buy the client’s house at full market value. “
Continue reading Eminently Experienced: Attorney Has Worked Both Sides in Eminent Domain
When putting together estate planning documents, most people make gifts of personal and real property. Often overlooked however, are digital assets, such as social media accounts, emails, files stored in the cloud, and iTunes or PayPal accounts. If you don’t consider how your digital assets will be handled at your disability or death, you may be missing a critical step in the estate planning process. Continue reading Digital Assets, Trust Drafting Tips Addressed in Recent Presentation
Governor Rick Snyder announced Monday that the State of Michigan will “go purple” for the month of June, in order to help bring attention to Alzheimer’s Disease.
“Alzheimer’s is a tragic disease that affects not only patients, but also their families, friends and communities. And as Michigan’s population continues to age, Alzheimer’s will have an even greater impact on our state,” Governor Snyder said. “That’s why we’re ‘going purple’ to help bring increased awareness and support for our fellow Michiganders who are struggling with this disease.”
Continue reading The State of Michigan “Goes Purple” in June for Alzheimer’s and Brain Awareness Month