If you are like most people, you probably have a list of things you mean to get around to but never do. Whether a written list or a mental one, it is easy to put things off until one day it is too late. Many people delay either making or reviewing their estate plan,...
How will estate taxes impact your final legacy?
Traverse City is home to many families who have worked hard to develop intergenerational wealth. Whether you have real estate holdings, a successful business or just substantial investments, passing those assets along to your children and loved ones will likely be a...
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...
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...
Hidden assets can change the outcome of high-asset divorces
Financially secure couples in Michigan facing divorce have to consider a variety of unique concerns. Anyone going through a divorce will need to take careful steps to protect themselves and their interests, but those with more significant assets will have much more to...
Is your retirement plan ready for your Michigan divorce?
Planning for retirement is important to your security as you grow older. If you are like many couples in Michigan, you and your spouse probably created a retirement plan. Whether you opened your own savings account, used an employer-sponsored 401k or have a pension...
How will the Michigan courts handle custody in divorce?
Ending your marriage means dealing with a lot of uncertainty. For many parents in Michigan who are unhappy in their marriage, divorce is the only real solution. However, divorce comes with a number of complications, including the fact that you may not have control...
Potential mediation downfalls for high asset divorces
Couples with significant assets considering a divorce in northern Michigan may do so for a number of different reasons. There could be concerns about privacy issues, as divorce court could become a source of unsavory gossip that affects your personal or professional...
How will your later-in-life divorce impact your retirement?
Going through a divorce at any point in your life is bound to have an impact on your financial circumstances. After all, you will have to split the assets and debts acquired during your marriage with your ex. Then there is the consideration of the cost of the divorce...
Is it time to review your estate plan for accuracy?
Creating an estate plan isn't something that you do once and then forget it. Instead, it is a process that requires ongoing attention and updates. Some people put off estate planning for far too long, leaving their loved ones and their assets at risk. Other people...