Michigan homeowners can claim an exemption on the property taxes levied against their primary residence. The size of the exemption is not insignificant. If the “taxable value” on your notice of assessment is $150,000, for example, the “principa…
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I heard yesterday from a client who discovered that uncashed checks made payable to her deceased father were turned over to the state of Michigan as having been abandoned. In order to claim the funds, she must reopen dad’s probate estate and get ne…
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Sweeping retirement plan changes, intended to encourage retirement savings, were signed into law at the end of 2022. These changes are found in the SECURE 2.0 Act, a comprehensive piece of legislation rolled into the larger Consolidated Appropriation…
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Five years ago, cryptocurrency was probably not on your radar. Today, it may be an important investment in your portfolio. You could even own some nonfungible tokens (NFTs), which are powered by the same blockchain-based technology. Despite the dizzy…
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“Crowdfunding” is a popular fundraising mechanism that uses websites to solicit contributions from the general public. Individuals organize crowdfunding campaigns to benefit charities or other people, and even to benefit themselves — typica…
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Retaining a principal residence exemption (“PRE”) can sometimes be tricky. (The PRE exempts a homeowner’s principal residence from property taxes levied for school operating expenses.) Naturally, the tax assessor wants to collect every tax doll…
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Yesterday, we took time as a nation to honor the valor and sacrifice of the men and women of the armed forces who lost their lives defending the freedoms we are blessed to enjoy. We at Wright Beamer hope you had a chance this past weekend to celebrat…
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Have you ever recorded a conversation or shared a conversation that you’ve recorded? If the answer is “yes,” there’s a chance you may have committed a crime! In Michigan, it’s a felony to use a device to record or transm…
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The Michigan Secretary of State (“SOS”) has thrown us a curve. For as long as I can remember, it was possible to title a motor vehicle in the name of a trust. This was routinely done when a vehicle owner’s estate was being probated after death.…
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Estate planning is not usually a one-and-done deal. The estate plan you sign today may fit beautifully now, but over time changes in the law or in your circumstances could render your plan obsolete. Here are some recent examples to illustrate my poin…
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