Grand Traverse County Michigan Divorce and Estate Planning Blog
The pros and cons of a revocable living trust
Estate planning can involve many stages, details and parties. On top of that, there are several different options to choose from when deciding what works best for you and your family. One such option is a revocable living trust. What is a revocable living trust? A...
Creating an effective parenting plan
Divorce can feel like a roller coaster with all of its ups and downs. Couples parting ways often have to figure out how they’re going to divide both tangible and non-tangible assets, but deciding how they are going to raise their children separately can be an even...
Does my business need a succession plan?
When you are running your own business, you rarely run out of tasks that need to be completed. Whether it’s hiring employees, innovating or introducing new products, addressing client needs or balancing your budget, you always have a lot on your plate. One thing that...
When to take the leap and file for divorce
Considering divorce Everyone gets married with the hope that it will last forever. When they recite their vows, mean them with every fiber of their being. However, research estimates that about 50% of marriages end in divorce. You are likely aware of this statistic...
What happens if my father passed away without a will?
Passing away without a will is known as dying intestate. Intestacy laws govern what happens to someone’s assets when they pass away without a will. These laws are set at the state level and the regulations differ between each state. Probate courts administer intestacy...
Calculating a business share in divorce leads to a long division
It’s taken a long time to get your business to where it is today. But in a divorce, knowing how much your spouse contributed could have a big impact when it comes time to divide assets. 3.7 million small businesses in the U.S. are co-owned by married couples. But when...
What are the different types of business valuations?
For small business owners, more than likely at some point, they will need to have a business valuation completed. A business valuation sets the value of what a business is worth. Business owners need business valuations completed in divorce cases, when couples are...
Who gets the lake house in a divorce?
Whether your divorce is amicable or not, there is likely going to be something that you and your spouse both want when you are splitting up your assets. It might be sole custody of the kids, but it can also be a coveted piece of marital property, like a lake house....
Estate planning consists of multiple documents
The language of estate planning can be a little bit confusing. For example, there is a living will and a living trust, and there seems to be some confusion as to what the difference is between the two. In addition, if there is a living will, does there need to be a...
Real estate market appears to be healthy
The residential real estate market in Grand Traverse County continues to be healthy. According to the online real estate site, Zillow, the median price for homes in the area has increased 9% in the last year and 32% since 2013. Number of days on the...
