Recent Articles

Tax laws used to play a major role in estate planning. Nowadays, not so much. The reason: Congress has greatly increased the exemption for the Federal Estate Tax. Current Exemption Levels. Today, if you’re single, and your estate doesn’… Read More

If you’re buying or selling a business, there are several key terms that you’ll want to cover in the sales contract: Financial Terms. The parties need to agree not only on the sales price, but also on the terms of payment. A buy… Read More

In the spring of 2012, real estate agents in the Ann Arbor area switched to a new sales contract form for people who are buying or selling a home. Here are some of the highlights. Waiver of Contingencies. Older versions of the sales contrac… Read More

If you’re buying an existing home, you’ll probably want to make the deal contingent on your being satisfied with inspection reports. There are several kinds of inspections to consider. You can provide for one or more of them in… Read More

When you sell your home, you’d hate to have the buyer later claim that you misled him or her about the home’s condition. The fact that the buyer had the home inspected by a professional contractor may not fully protect you from… Read More

Michigan has a principal residence exemption that can reduce your property-tax bill. (This used to be called the homestead exemption.) If you qualify, your home will be exempt from a portion of school operating taxes. Here’s an introd… Read More

There are several key steps to take in starting your own small business – many of which have legal consequences. Here is a summary. Choosing a Business Entity. Typically, you’ll select one of four entities for your business: a s… Read More

Suppose you and your spouse are getting divorced and you’re working on a property settlement. What can you do if the mortgage balance on your home exceeds the home’s value? Consider these two scenarios. Scenario #1: You want to stay in… Read More