Advantages to Selling the Marital Home Before Divorce

Michigan Attorney Kathryn Wayne-Spindler recently participated in the Institute of Continuing Legal Education Family Law Seminar where Elizabeth K. Bransdorfer of Mika Meyes PLC in Grand Rapids presented the session, “Selling the Marital Home During the Divorce Case.” When divorcing, there are a couple of typical scenarios regarding the marital home. One party continues to live in the family home. One of the spouses may “buy-out” the other spouse’s half of the family home. This can be in the form of trade-offs for other property, assets, income or a smaller share of the joint debts. In some cases, the parties Continue Reading…

Take Advantage of Housing Drought

The time is right for divorcing/divorced couples to take advantage of what has been called the “worst housing drought ever” to get top dollar from their home sales. According to a blog posted by local realtor Norm Werner in Real Estate News from the Milford Team, “The number of homes for sale is at the lowest level on record, according to the National Association of REALTORS, who began tracking inventory 18 years ago.” The low inventory could mean quick sales and bidding wars resulting in more equity for the seller. Norm Werner reported in a recent Huron Valley Chamber Networking Continue Reading…

Lady Bird Deed is Estate Planning Tool

A “Lady Bird Deed” is a tool of estate planning that allows the transfer of ownership of property to an heir. It’s more official title is “enhanced life estate deed.” In Michigan, by utilizing a Lady Bird Deed, property can be passed down to direct relatives without probate or “uncapping” the property tax valuation. These are standard benefits of life trusts. What makes a Lady Bird Deed unique is the transferor’s retention of the right to sell or lease the property during his or her lifetime. As Rockford, MI Lawyer Kary C. Frank’s article, “The Search for The Lady Bird Continue Reading…

Complete Estate Plan is not Just About the Money

When trying to save money, some people choose the minimum when it comes to creating a will. After all, a will’s a will, right? Not so. A thoughtful and complete estate plan will can save relatives months of heartache and expense that results when disputes go to probate court. In fact, many times probate can be completely avoided. In addition to assets, retirement funds, real estate, and valuables like art, jewelry and vehicles, a will needs to cover items of “emotional value.” Heirlooms and personal items can be distressing for family members to split after a loved-one’s death. Do-It-Yourself and Continue Reading…

5 reasons to consult an attorney when you sell a house

The real estate market in Southeastern Michigan is active. With Spring (hopefully) around the corner, For Sale signs will begin popping up in front yards like so many crocus and daffodils. Selling real estate can be a tricky legal business. If you are contemplating selling your home in 2015, an attorney, in conjunction with your Realtor, can help you navigate the process smoothly. Here are the top five reasons real estate sellers seek the counsel of an attorney: 1 – Purchase Agreement Review – On the sales side of the transaction, an attorney can help you and your Realtor if Continue Reading…