Monthly Archives: August 2019

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20 08, 2019

Michigan Estate Tax

August 20th, 2019|Michigan Estate Planning|

An estate tax refers to a monetary fee imposed by the state or federal government based upon the value of someone’s estate after they pass away. In Michigan, there isn’t a “Michigan estate tax” persay; however, there are cases where individuals may be required to pay certain taxes after receiving assets. This article discusses aspects of inheritance tax, estate tax, and other relevant points regarding asset taxation in the State of Michigan. Asset Taxation in Michigan Michigan has a state sales tax of 6% and a state income tax of 4.25%. Michigan also taxes pensions [...]

2 08, 2019

What is Probate?

August 2nd, 2019|Michigan Probate Law|

What is Probate? As an experienced law firm that routinely deals with elderly clients and their families, we are often asked “what is probate?” Before answering this question, it’s important to understand that there’s a specialized court known as “probate court.” These courts deal with specialized issues relating to illness, disability, and death. Simply put, probate is a court supervised process that oversees the distribution of someone’s assets and inheritance after they pass away. This article provides a background on probate and describes various legal issues that an attorney who practices in this area deals [...]