We have all heard or read about stories in Michigan and elsewhere involving families in disputes over a relative’s death and what he or she would have ‘wanted.’ Without a solid estate plan, including a will or trust it can be difficult to know, let alone prove in probate court,
We’ve written before about the trend in the housing market favoring energy efficient homes. Here in Michigan, some discerning buyers have sought out homes with specific features that make it more environmentally and less expensive to maintain. These features include sky lighting, geothermal heating systems, solar panels, improved insulation and
We’ve been writing a lot about Detroit development both in the downtown area and in nearby suburbs. Investors are seeing a lot of potential in the low property prices in Detroit and the rest of Michigan and some are grabbing the opportunity to be the first in line for an
More homes sold in the Detroit metro area last month compared with the same time last year, according to recently released data. This improvement is one of several signs of a slowly healing housing market for the Detroit area, which suffered significantly during the recession. Home prices are still 30
Michigan readers of our blog may remember an earlier post that detailed a battle between Zsa Zsa Gabor’s daughter and her husband of 25 years over who should be the conservator of Ms. Gabor’s care and estate. Francesca Hilton, Ms. Gabor’s only child from a previous marriage, is satisfied with
Many small business owners don’t know that there are government-backed loans available for commercial property purchases. The program has been around since 1959 but has recently gained new traction among small business owners looking to improve their commercial space. Especially for owners who invite customers and clients into their offices,
Rent prices are rising around the country as many property owners seek to take advantage of unusually low vacancy rates. Landlords in many urban areas stand to gain from the market conditions, which some experts say could be due to many people who previously owned homes returning to renting after
Nobody really knows how long they have left to live, but using one or more of the online actuarial calculators could give you some insight into how you should go about setting up your retirement and estate plan. Retirement planning, estate planning and elder care planning can go a long
One building is already underway and a second will begin construction soon for a new housing complex for seniors on Detroit’s east riverfront. The second complex will break ground early next year and be open in spring 2014. The new complexes will add to a growing list of new residential
After filing a request with the probate judge, the family of the late Joe Paterno was able to get his will sealed and thus unavailable to the public. The family recently reversed that course and gave up their quest to keep his will private. Why did they switch course? Most
In our last post we discussed new incentives that states are giving to home buyers to stimulate the housing market. Those efforts seem to be helping aid the recovery of home prices and have the added benefit of filling up homes that have gone unoccupied since a foreclosure. As a
Deciding to buy a home is an exciting and daunting prospect, whether it’s your first purchase or you’re a seasoned residential real estate investor. Low home prices have contributed to a favorable real estate market for buyers, but many families are still suffering from other symptoms of the recession and
When establishing an estate plan it is important to determine how you own something, such as an investment account, real estate property or even a checking account. Consider the example of a couple who brings not only separate property to a second marriage, but children as well, like many blended
You don’t need to have a massive fortune on the scale of Bill Gates or Warren Buffet to benefit your retirement while planning for the future of your estate. For Michiganders thinking about retirement, most likely the kids have grown and you are decades away from end of life issues
As the housing market continues its slow but steady recovery, many Michigan investors and residents are considering purchasing properties while prices are still low. At the same time, the market has gotten more competitive than it was over the past few years, and desirable properties are now getting multiple offers
We talk about local home prices and how the housing market is doing in general a lot on this blog. The housing market in Detroit affects a lot of other segments of the economy and is often used as a bellwether for Michigan’s progress towards economic recovery. Foreclosure rates have
With Father’s Day just around the corner we thought our Michigan readers might be interested in a story about the need to protect our elderly loved ones from a variety of threats, including dementia. The story involves the elderly father of Academy Award-winning actress Reese Witherspoon and her brother who
Amidst all of the news about lower foreclosure rates and an improving economy, low housing prices linger as one of the primary signs of a recent recession. While this is good news for investors and buyers looking to get a good deal on a property that will increase in value,
In our last post we discussed the revitalization of the downtown Detroit area and new development that is happening there. In addition to the introduction of national retail chains, many local and national businesses are moving into office spaces in Detroit. While space is plentiful now, many businesses are looking
Detroit residents are only about one year away from the grand opening of the first location of a national grocery chain in the downtown area. Building began last month on a Whole Foods location, which has many market watchers excited about other real estate development opportunities in Midtown Detroit. The
A Chihuahua named Conchita has proven the old adage that every dog does indeed have his day or her day in this case, after a home that was bequeathed to the pooch and two others was recently sold for $8.4 million. Many Michigan residents can probably relate to pampering their
We’ve written a lot on this blog about the improving real estate market, because its our business and because it’s an exciting sign of a recovering economy. One major favor that has been driving down home prices over the last few years has been the high number of properties available
Buyer interest has also been sparked by recent media attention on the great summer activities that are available in northern Michigan. Sleeping Bear Dunes and Traverse city have both been highly ranked among American vacation destinations, and locals say that the accolades are paying off, bringing in more tourists and
A lawyer is accusing a Michigan judge and two other probate lawyers of conspiracy in attempting to bilk civil rights icon Rosa Parks’ estate out of $507,000 in legal fees, according to court papers. Ms. Parks’ estate consists of several thousand pieces of civil rights memorabilia, including her personal papers,
Mortgage agreements are complex and difficult for many consumers to understand. Prospective buyers often rely on the expertise of their realtor and the advice of their mortgage company representative or banker to help them parse the language and terms of the agreement. Some homebuyers choose to be represented by an
Facebook is in the news for more than launching its first initial public offering these days, as one news article reports. We thought Michigan residents might be interesting in learning how Facebook founder Mark Zuckerberg and several company insiders are using a legal tactic called a “grantor-retained annuity trust” to
Experts say that the increase in existing home sales last month is yet another sign that the housing market is stabilizing and will soon improve. Purchases of existing homes increased by 3.4 percent in April. Industry analysts say that improvements in the job market and historically low interest rates on
The Bureau of Consumer Protection at the FTC is warning anyone who owns a timeshare to expect a call from phony companies perpetrating a fraud. The scheme has become so widespread that the FTC says timeshare owners all over the country can expect to be approached and offered phony deals.
With housing prices and interest rates at historically low levels, many Detroit residents consider this to be a good time to invest in real estate. However, just because a price seems low doesn’t mean that the property will be a worthwhile investment, so prudent potential buyers should consider some of
As discussed in last week’s post, if your parents do not yet have an estate plan in place consider discussing the possibilities during the month of May. According to the Alzheimer’s Association, in the United States more women than men have the disease or some other form of dementia. So
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