Decanting Statutes in Michigan

Adam Keilen Decanting is the discretionary exercise of a fiduciary power to appoint assets in trust, meaning, under IRC 2652, to “effect an arrangement that although not a trust, has…

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What constitutes acceptance of an offer?

Adam Keilen When it comes to contracts, under Michigan common law, what constitutes acceptance of an offer? Under M Civ JI § 142.13, Acceptance, acceptance is a statement or conduct…

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Buy-Sell Agreements

Adam Keilen Questions Surrounding Buy-Sell Agreements. What happens when one partner is ready to exit the business? What are they entitled to? What are the surrounding terms and conditions of…

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Uncapping – Transfer From Parent to Child

Adam Keilen The Michigan legislature passed a new law that impacts the way Michigan residential property taxes are assessed. Proposal A went into effect in January, 1995, and limited the…

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Premises Liability for Business Owners

Adam Keilen Generally, as a small business owner, what duty do I owe to my customers, as it relates to premises liability? The duty owed to a business invitee (generally,…

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Amendment to 529 Educational Accounts

Adam Keilen As of January 2, 2013, Public Act 552 of 2012 was signed and amends the law regarding asset exemptions, as they relate to creditors. The Act protects 529…

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Litigation – Damages in Business Tort Cases

Adam Keilen The Michigan Supreme Court, in Schankin v. Buskirk, 354 Mich 390, 93 NW2d 293 (1958), using a flexible approach to damages, held that the rules for damages recoverable…

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Estate Litigation

Adam Keilen An in terrorem clause in a will threatens that if anyone challenges the legality of the will, then that person will be cut off or merely given a…

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Truth in Lending; Mortgage Loans

Adam Keilen As of June 1, 2013, Regulation Z has prohibited arbitration in mortgage lending. TILA and Regulation Z prohibit contracts that require arbitration in closed-end loans secured by a…

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