Posts by Kick & Gilman

Catching up on payments when the dust settles.

Posted in Bankruptcy, Chapter 13

I received a call today from a banker. His office is overwhelmed with phone calls from people who have been laid off in the past week, and who are facing the difficult situation of possibly not being able to make their next mortgage payment. While many banks and lenders are offering financial assistance to get through these trying times the US is facing with the Covid19 shut downs, sometimes that may not be enough. What options do you have once the dust settles, you are back to work, but you have fallen behind on your car and/or mortgage payments? One option may be a Chapter 13 bankruptcy....

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Aretha Franklin’s fortune and the note in the couch.

Posted in Estate Planning, Probate

When Aretha Franklin died late in the summer of 2018, many in the estate planning community were disappointed and surprised to learn that she did not have any estate plan in place. Forget the trusts, partnerships, and other entities that sometimes provide better planning and protection to the wealthy – she didn’t even have a last will and testament. With an estate estimated to be $17 million, Franklin appeared to have never done any planning to protect and distribute her assets at death. Once the initial disbelief wore off, people were comforted to know that Michigan statutes...

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Van Halen, Brown M&M’s, and the importance of reading your contracts.

Posted in Uncategorized

The ‘80’s rock band Van Halen had a provision in their concert contract requiring M&M’s in their dressing room, but banning brown M&M’s. Urban legend has it that this was evidence of the bizarre behavior of eccentric musicians. Instead, it was a very intentional requirement. Van Halen’s concerts were complex productions. They involved significantly more stage, sound, and light equipment than the average show. This created technical requirements that were much more stringent than the average show that a venue might normally host. Those rules were all built into their...

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Will I lose everything if my spouse enters a nursing home?

Posted in Elder Law

No one wants to see their loved one have to move into a nursing home. But the feelings and concerns are even more difficult when it is your spouse. The obvious emotions come from no longer having the person who is so special to you in your home. But people who are not experiencing it often lose sight of another issue that troubles the one who remains home: how will this impact my ability to stay home? We have had a number of clients come to our office concerned that they would watch everything they earned and saved be spent on their husband’s or wife’s care. With the average cost of a...

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There’s no such thing as an adult being “too young to need a will.”

Posted in Estate Planning

Picture a client coming to our office to create a last will and testament. Picture them coming in, sitting down with one of our attorneys, and having a discussion about planning for their death and potential incapacity. How old is the person you are imagining? If you are like most people, you are thinking of a retired person with gray hair and grandchildren. That is who most people think “needs” a plan, and that is who we see most often. But sometimes a client comes in that defies the stereotype. Sometimes the clients are a young couple with small kids crawling on their laps, coloring on...

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