New Exemptions from the Uncapping of the Taxable Value of Residential Real Property

2014 PA 310, signed late last year, provides a number of new exemptions from the “uncapping” of a property’s taxable value upon transfer of ownership of residential real property to certain relatives, and even includes certain transfers from trusts and estates. In general, under MCL 211.27a whenever a transfer of ownership of real property occurs, … Continue reading New Exemptions from the Uncapping of the Taxable Value of Residential Real Property

New Exemptions from the Uncapping of the Taxable Value of Residential Real Property

In October, the governor signed Public Act 310 of 2014, which provides a number of new exemptions from the “uncapping” of a property’s taxable value upon transfer of ownership of the residential real property. Under current Michigan law, whenever a transfer of ownership of real property occurs, the taxable value of the property uncaps in … Continue reading New Exemptions from the Uncapping of the Taxable Value of Residential Real Property

Medicare’s Annual Enrollment Period Begins in October

Open enrollment for Medicare begins on October 15th and runs through December 7th, with any changes you make taking effect on January 1, 2015. Medicare plans change annually, so a recipient should never assume that the plan they currently have will be the best available plan for you again next year. A user could save … Continue reading Medicare’s Annual Enrollment Period Begins in October

13 Fraser Trebilcock Attorneys Selected for 2014 List of Super Lawyers, 2 Named “Rising Stars”

Thirteen Fraser Trebilcock attorneys have been selected for inclusion on the 2014 list of Super Lawyers, with two additional attorneys named “2014 Rising Stars in Michigan”. In addition, the firm is proud to announce that attorney Marlaine C. Teahan has been included as one of the ‘Top 50 Female Attorneys in Michigan’, one of the … Continue reading 13 Fraser Trebilcock Attorneys Selected for 2014 List of Super Lawyers, 2 Named “Rising Stars”

The Legal Documents All College Students Need

In just a few months, our high school graduates will head off to college. We’ll make sure they have the text books they need, the right-sized dorm sheets, perhaps even a min-fridge. But what about the proper legal documents? Despite what many parents think, the law does not give you the authority to act on … Continue reading The Legal Documents All College Students Need

Research is Crucial When it Comes to Choosing a Nursing Home

A recent article on the resources available online to research potential nursing homes summarizes what most of us already know – it takes time and research to choose the best nursing home possible for yourself and your loved ones.  Nursing homes are not all the same.  Several are rated poorly, many are average, and some … Continue reading Research is Crucial When it Comes to Choosing a Nursing Home

Tax-Planning: Consider Termination of Your Late Spouse’s Trust

If your spouse is deceased and you are the current beneficiary of their trust, keep reading. You may be able to save a significant amount of money in income taxes and capital gains taxes by distributing income and/or assets out of the trust now or dissolving the trust entirely if the terms of the trust … Continue reading Tax-Planning: Consider Termination of Your Late Spouse’s Trust

Your College Students Should have a Durable Power of Attorney and Designation of Patient Advocate

As a reminder, your college-bound children should have a durable power of attorney and designation of patient advocate in place before they head off to school this fall.  In general, anyone over the age of 18 should have these documents prepared.  These documents allow your child to authorize another individual to act on his or … Continue reading Your College Students Should have a Durable Power of Attorney and Designation of Patient Advocate

‘Tis the season to be gifting’

Thanksgiving is right around the corner and many of us are busy counting our blessings.  We wonder how to bless those who have blessed us.  We ask, “What would be an appropriate gift?”  “Should I get a present, give cash, or simply write a check?”  If your next question is, “What are the tax ramifications … Continue reading ‘Tis the season to be gifting’

Is Your College Student Protected?

While college students everywhere are getting ready to go back to school, one thing they may not be packing is a durable power of attorney. Every college student should have durable powers of attorney in place before they head off to school.  In general, anyone over the age of 18 should have durable powers of … Continue reading Is Your College Student Protected?