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January 2014 Archives

Act can help to save taxes for married couple with estate plan

A person may feel average in many areas of his or her life in Michigan. The individual might view his or her job, marriage and/or financial situation as being mediocre, so he or she doesn't see the point of going through the same type of estate planning that the "rich and famous" often pursue. However, an estate plan isn't important just for the super wealthy -- it's necessary for everyone who wishes to properly pass on assets to beneficiaries. A recent law enables married people to more easily minimize their tax burden when passing on their assets to others.

Just when it seemed settled, new claim made on heiress's estate

The name Huguette Clark may be unfamiliar to many in Michigan -- or across the nation for that matter -- but in the arena of estate planning and administration the name doesn't seem to go away. The woman was a wealthy but reclusive copper heiress who passed away in 2011 at the age of 104.

Delay in Michigan lakefront property developement

On Jan. 14, the owners of property on Muskegon Lake sought and received additional time to work on developing the property. However, that goal doesn't seem any more attainable than it did more than 10 years ago when it was first suggested. The current owner of 34 acres of lakeside property and the city agreed on an extension, although some city members expressed their frustration at the delay.

Michigan furniture stores to close

A furniture company that has operated four retail stores in Flint Township for more than 17 years will close those locations permanently after the President's Day holiday weekend. The commercial property closures were based on a number of factors, but the chief marketing officer of the company did not clarify what all of the factors were. One of the points contributing to the decision was the fact that a lease with the property owner would be expiring.

Developer explains reasons behind area's commercial growth

Michigan residents may be interested in the reasons behind renewed commercial growth along a busy route in one of the state's cities. Stadium Drive in Kalamazoo has seen increased commercial growth for several years. According to the chief operating officer for Hinman, a commercial property development company, there are numerous reasons for the area's newfound popularity among businesses.

Company buys Michigan school to open women's shelter

The Muskegon Board of Education has entered into an agreement to sell its long-closed Froebel School for $1,000 to Blue Lake Holdings. The company intends to establish a women's shelter on the property. The holding company consists of six investors -- one that has worked in banking and another that has worked on real estate developments in the past.

Experts predict changes in real estate market for 2014

Residents of Michigan who may be interested in buying or selling a home in 2014 are paying attention to the changes in the real estate market that many experts are predicting for the year. Although it is expected that real estate purchases and sales in 2014 will continue to improve over the levels seen when the housing market collapsed, several factors are expected to lead to growth at slower rates than were seen in 2013.

Federal telecommunications law vs. local zoning

A township in Michigan may have to contend with AT&T in federal court over placement of a cell phone tower. AT&T has filed suit in U.S. District court against Ada Township after eight years of negotiations that failed to produce an agreement over where a tower could be placed within the township. The suit was prompted by Ada Township's moratorium on cell phone towers. AT&T asserts that the moratorium violates federal telecommunications law.

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