The post Common Title Problems first appeared on Galloway Collens.
]]>In this blog, we’ll explore common title problems that can arise during the property purchase process.
The post Common Title Problems first appeared on Galloway Collens.
]]>The post When Inheriting Real Estate, Consider Your Options first appeared on Galloway Collens.
]]>There are three main options when you inherit real estate: move in, sell, or rent. Which one you choose will depend on your current living situation, whether or not you have siblings, your finances, whether the house has a mortgage or liens, and the physical condition of the house. The following are some things to consider:
Ultimately, there are many decisions to make when you inherit real estate and deciding what to do with it can be a very emotional decision. If possible, try not to rush into any decisions until you’ve had time to thoroughly consider your options.
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]]>The post Watch Out for These Potential Problems with Life Estates first appeared on Galloway Collens.
]]>In a life estate, two or more people each have an ownership interest in a property, but for different periods of time. The person holding the life estate — the life tenant — possesses the property during his or her life. The other owner — the remainderman — has a current ownership interest but cannot take possession until the death of the life estate holder. The life tenant has full control of the property during his or her lifetime and has the legal responsibility to maintain the property as well as the right to use it, rent it out, and make improvements to it.
Life estates are excellent planning techniques in many circumstances. They permit parents to pass ownership in their homes to their children while retaining absolute possession of the property during their lives. By executing a life estate deed, the property avoids probate at the parents’ deaths, is protected from a Medicaid lien, and receives a step-up in tax basis.
However, there are potential issues that may arise with life estates and it’s important to fully understand the following risks:
As with most planning tools, a life estate can be very useful with valuable benefits, but it is not for everyone. In many cases, the potential problems outweigh the benefits. As the law in this area is complex, it’s important to talk to a lawyer who knows about this in-depth.
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]]>The post In The News first appeared on Galloway Collens.
]]>11.2020 – DBusiness Top Lawyers 2021 – Named Top Lawyer 2021 Real Estate
9.2020 – Selected to Super Lawyers – Top Rated Real Estate Attorney
12.2018 -named 2018 Strategic Partner of the Year by the Women’s Council of REALTORS® Birmingham/Bloomfield
10.2018 – named 2018 Affiliate of the Year by the Greater Metropolitan Association of REALTORS®
10.2017 – DBusiness Top Lawyers 2018 – Named Top Lawyer 2018 Real Estate
10.2016 – DBusiness Top Lawyers 2017 Named Top Lawyer 2017 Real Estate
10.2015 – DBusiness Top Lawyers 2016 – Named Top Lawyer 2016 Real Estate
2.5.2015 – Greater Metropolitan Association of REALTORS – Real Estate Transactions from A to Z: Mastering the Transaction
10.2013 – DBusiness Top Lawyers 2014 – Named Top Lawyer 2014 Real Estate
8.4.2013 – Galloway Not Seeking Fourth Council Term
10.2012 – DBusiness Top Lawyers 2013 – Named Top Lawyer 2013 Real Estate
10.2011 – DBusiness Top Lawyers 2012 -Named Top Lawyer 2012 Real Estate
7.20.2011 – RPLS Short Sales and Foreclosures from the Investor’s Perspective
2011 RPLS Presentation
9.2021 – Selected to Super Lawyers – Top Rated Estate Planning & Probate Attorney
11.2020 – DBusiness Top Lawyers 2021 – Named Top Lawyer 2021 Trusts and Estates
9.2020 – Selected to Super Lawyers – Top Rated Estate Planning & Probate Attorney
5.2020 – Recognized through peer selection on Leading Lawyers
9.2019 – Selected to Super Lawyers – Top Rated Estate Planning & Probate Attorney
1.2019 – Jackson Area Estate Planning Council Guest Speaker on Fiduciary Access to Digital Assets Act
10.2018 – Re-elected to a second term as Council Member of the Elder Law and Disability Rights Section (ELDRS) of the State Bar of Michigan
10.2017 – Elected as Council Member of the Elder Law and Disability Rights Section (ELDRS) of the State Bar of Michigan
10.2017 – DBusiness Top Lawyers 2018 – Named Top Lawyer 2018 Trusts and Estates
10.2016 – DBusiness Top Lawyers 2017 – Named Top Lawyer 2017 Trusts and Estates
10.2015 – DBusiness Top Lawyers 2016 – Named Top Lawyer 2016 Trusts and Estates
2.26.2015 – Institute of Continuing Legal Education
Fundamentals of Estate Administration
12.4.2014 — National Business Institute
The Probate Process from Start to Finish
11.2014 — Institute of Continuing Legal Education Webcast
Digital Assets: What Now?
10.8.2014 — Lifespan Presentation
9.30.2014 — 2014 Fall Elder Law and Disability Rights Conference
Do I Have to Read the EULA?
9.6.2014 — Oakland County Private Practice
Presentation on Hoarding
6.3.2014 — National Business Institute
The Probate Process from Start to Finish
10.2013 — DBusiness Top Lawyers 2014 – Howard Collens Named Top Lawyer 2014 Trusts & Estates
10.2012 — DBusiness Top Lawyers 2013 – Howard Collens Named Top Lawyer 2013 Trust & Estates
1.20.2012 — President of Royal Oak Chamber of Commerce
Howard Collens Elected President of Royal Oak Chamber of Commerce
10.2011 — DBusiness Top Lawyers 2012 – Howard Collens Named Top Lawyer 2012 Trusts & Estates
6.7.2011 — Institute for Paralegal Education
The Probate Process From Start to Finish for Paralegals
9.2008 — Selected to Super Lawyers – Selected as One of Michigan’s Rising Stars 2008
1.2008 — Royal Oak Chamber of Commerce
Board of Directors
1.18.2007 — Royal Oak Chamber of Commerce
Royal Oak Chamber of Commerce names Howard Collens Ambassador of the Year
The post In The News first appeared on Galloway Collens.
]]>The post Do You Know What Qualifies as an Appurtenance? first appeared on Galloway Collens.
]]>The post Do You Know What Qualifies as an Appurtenance? first appeared on Galloway Collens.
]]>The post The Rise of the Green Burial first appeared on Galloway Collens.
]]>Imagine taking a walk through a garden or forest, admiring the wildlife, flora, and fauna. Maybe there is a lake or stream that you can sit by and collect your thoughts while absorbing the natural beauty around you. Now imagine that this place you’re in is a cemetery. Hybrid, natural, and conservation burial grounds are popping up all over the country, focusing on green alternatives to the burial and funeral process. The Green Burial Council describes green or natural burial as a way of caring for the dead with minimal environmental impact that aids in the conservation of natural resources, reduction of carbon emissions, and the restoration or preservation of habitat. It is also a way of reconnecting with and having our final purpose be giving life back to the earth.
Funerals in the United States are the most resource intensive in the world, with 53 million gallons of toxic embalming fluid being buried every year. Most people believe the way to combat this is to be cremated, however, the cremation process consumes fossil fuels and releases more than 23 million pounds of CO2 into the atmosphere annually. While just having yourself or a loved one cremated seems small in the grand scheme of things, about 40% of Americans receive cremation. Among the most significant noxious emissions produced by cremation are carbon dioxide, hydrogen chloride, carbon monoxide, mercury, and of course, formaldehyde.
For those who would still rather have a more common funeral service including an open casket and the works, there are now formaldehyde-free embalming fluids and some are made entirely of nontoxic and biodegradable essential oils. Aside from formaldehyde being bad for the earth, the National Cancer Institute released in 2009 that funeral directors and embalmers have a much higher incidence of myeloid leukemia and cancers of the brain and colon.
Green burials may seem like a radical idea but they actually share many similarities with Muslim and Jewish traditions – no embalming, the body is usually laid to rest within a 24-hour period, and the body is touching the earth. They also involve the use of a shroud or a nontoxic, biodegradable casket. During the 18th and 19th Centuries, burials in the U.S. involved, at most, a pine casket and a plot of land. The “green death movement” essentially takes us back to those practices, when we were more connected to death and the land – a true “ashes to ashes, dust to dust, earth to earth” burial.
If none of the reasons above are resounding enough to think about a green burial for yourself, there’s always the cost difference. Typical funerals cost between $7,500 and $10,000 and cremations cost around $2,000 – not including the service and any other bells and whistles. The price of a burial plot at a green cemetery, including a marker, ranges from $800 to $3,500, with some of that cost going toward conservation and restoration. Some people also opt for a home funeral (being buried on your land), which is allowed by almost all counties, but most require a minimum number of acres and the filing of a plat map with the local planning department.
In this day and age, there are tons of things to consider about your life and your death. It seems like there are a thousand decisions to make and add-ons for everything that you want to do, whether buying a car or planning your own funeral. Perhaps a green burial will allow you to take solace in knowing that your final act is providing nourishment for the earth and conserving what we have left for the people you leave behind.
If you wish to learn more on how to implement your funeral wishes into a new or existing estate plan, please contact us at 248-545-2500 and we will be happy to discuss it with you.
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]]>The post Owning commercial property in a digital age first appeared on Galloway Collens.
]]>For about 96 percent of consumers, shopping online is a common behavior, and many can even go to work digitally in the comfort of their homes. While all of this makes things convenient for most people, it may not be such a good thing for someone like you who owns commercial property.
Be flexible and adapt
Finding and keeping tenants in your office and retail space may be getting more difficult. Fewer people venture out to shop, and more employees are able to work from home. Business owners no longer require brick-and-mortar space for their offices and stores, which leaves you with empty properties and no income. However, there may be ways to adjust your focus so you can draw tenants to your buildings despite the conveniences of the digital age.
It may be necessary to become more flexible with the space you have to offer. Since fewer tenants are looking for office space or retail storefronts, you may be able to repurpose your building to meet current trends. For example, more workers are looking for co-working space, and you may be able to adapt your vacant space to suit that need.
Think outside the box
To avoid having empty buildings without tenants, you may have to devise a plan beyond seeking the traditional tenant. Some examples real estate experts recommend include the following:
You may also choose to move away from commercial retail space into residential space. Multifamily properties always seem to be in demand, and you may even consider purchasing a property that offers residential units along with office space, entertainment, retail units and restaurant opportunities.
If this seems like a grand undertaking, you are right. In fact, any commercial real estate investment is a serious and risky venture that you may not want to enter without some solid advice and guidance from an experienced legal advocate.
The post Owning commercial property in a digital age first appeared on Galloway Collens.
]]>The post You can take steps today to plan for your future medical care first appeared on Galloway Collens.
]]>You may not know what type of medical care you will need in the future, but there are certain estate planning tools that will allow you to outline your wishes in case of incapacitation. This is possible through a health care power of attorney and other documents. Taking these steps can give you great confidence for the future.
What is a health care power of attorney?
It is your body, and you have the right to have a say over what will happen to it, even if you cannot express your wishes and desires at the time. A power of attorney for health care can allow you to do the following:
Most people draft a health care power of attorney in conjunction with a living will. If you do not have either of these documents as part of your estate plan, you have no time to lose in moving forward with this step.
If you do not have these documents in place, you relinquish the right to say what will happen to you in case of a serious accident or illness that prevents you from verbalizing your wishes and refusing or accepting certain types of treatment.
A complete estate plan
You may benefit from more than just a simple will. Planning for your future health care today can take a significant amount of concern and stress out of tomorrow. This will also protect your loved ones from having to make difficult decisions on your behalf.
A complete evaluation of your current plans will help you understand what else you need to complete your estate plan. Regardless of your age, health status or income, this is a prudent and beneficial step for you.
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]]>The post When Can a House Be Sold in a Probate Estate? first appeared on Galloway Collens.
]]>When a loved one dies owning a house solely in his or her name without a joint owner, the house will need to be probated to manage it, list it for sale and ultimately sell it. Someone will need to be appointed through the probate court as the Personal Representative (this position used to be called Executor) in order to have authority to transact the sale.
In an uncontested estate, opening the probate estate can generally be accomplished without the need for a formal court hearing. Throughout the process, the correct papers must be filed with the court at the proper time. As the estate opens, the probate court will issue Letters of Authority giving the Personal Representative the ability to manage the estate.
After the Personal Representative is appointed, he or she will have the ability to sign a listing agreement with the Realtor for the estate. Care must be taken to include certain provisions in the listing agreement and the purchase agreement to protect the estate and the Personal Representative. A skilled attorney and Realtor can help make sure that the documents are properly drafted.
Once the house is marketed, a buyer is identified, and a purchase agreement is negotiated, it may be necessary to petition the probate court for a hearing to approve the sale of the house. The Letters of Authority will state if the probate court has placed limitations on the ability of the Personal Representative to sell the house. If a hearing is necessary, the hearing process can take a few weeks. Many estates don’t have a requirement that a hearing be held prior to completing the sale and so the sale can proceed without any court involvement.
After the house sells, the proceeds obtained from the sale can be distributed at the appropriate time to the heirs or devisees of the estate.
Administration of a decedent’s estate takes skill, persistence and know-how. It presents many traps for the unwary. Having an attorney and Realtor familiar with the process and the pitfalls can make a challenging process easier.
The post When Can a House Be Sold in a Probate Estate? first appeared on Galloway Collens.
]]>The post Do you believe an executor has breached fiduciary duty? first appeared on Galloway Collens.
]]>In order to carry out the instructions of a will, a named executor or appointed personal representative must follow the proper legal steps to validate the will and begin the probate process. If your loved one named someone else as executor, you may want to trust that person to act in a trustworthy manner. However, you may have some concerns about his or her actions.
How are estate funds spent?
The executor of the estate should gain access to the remaining funds. This access may be necessary for a variety of reasons. Some of those reasons include:
Other actions that need the use of estate funds may also need carrying out. However, if you feel that the executor has breached his or her fiduciary duty by misusing estate funds or other actions, you may wonder what you can do to address the issue.
Taking legal action
During the probate and estate administration process, you may have the option to file any complaints with the court and potentially pursue litigation if you have standing and grounds to do so. Taking this action may help you ensure that your loved one’s final wishes are properly handled and that the executor is held accountable for his or her actions.
The post Do you believe an executor has breached fiduciary duty? first appeared on Galloway Collens.
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