June 28, 2017: Attorney Andy Gerdes of Capital Bankruptcy and Sally discuss how important it is for attorneys in different practices to work together for the Client's needs. http://www.fox47news.com/entertainment/shows/the-morning-blend/babbitt-legal-group-pc-62817 ... [Continue Reading]
What Do Family Farms and Family Cottages Have in Common?
Michiganders (or Michiganians if you prefer) are fortunate to be surrounded by two splendors of nature—lots of lakes and lots of farms. Michigan has over 11,000 inland lakes, and agriculture is the second leading industry in the state. The result is an abundance of cottages and mile upon mile of farms. So what do these cottages and farms have in common? Several things. Cottages and farms tend to be owned by families. This means that a small group of closely related individuals, related by blood, marriage, and children, will be responsible for the success or failure of the farm or the use and enjoyment of the cottage. Families may be very close-knit, but they often don’t make good business partners. Add to this the fact that the owners don’t get to choose their business partners. When conflicts do arise, the issues tent to cause deep ... [Continue Reading]
Estate of Mark Moon, the Sequel
Little did I know there would be a sequel..... S T A T E O F M I C H I G A N C O U R T O F A P P E A L S In re Estate of MARK E. MOON. KRISTINA MOON, Personal Representative, Appellant, UNPUBLISHED August 14, 2014 v No. 315698 Eaton Probate Court MERLIN MOON, LC No. 08-045647-DE Appellee. Before: SAAD, P.J., and OWENS a nd K.F. KELLY, JJ. PER CURIAM. Appellant, as personal representative of the estate of Mark E. Moon, appeals as of right the probate court’s order that denied her motion for summary disposition, which requested that the probate court determine that the estate has a 50 percent partnership interest in real property titled in appellee’s name. We affirm. As a preliminary matter, appellee claims that this Court does not have jurisdiction because not all interested parties appear to have been served with the claim of appeal. ... [Continue Reading]
Estate of Mark Moon
Below is the Court of Appeals Opinion on a case that I worked on in the trial court. I represented the appellee, Merlin Moon. S T A T E O F M I C H I G A N C O U R T O F A P P E A L S In re MARK E. MOON ESTATE KRISTINA MOON, Personal Representative of the Estate of MARK E. MOON, Appellant, UNPUBLISHED January 27, 2011 v No. 294176 Eaton Probate Court MERLIN MOON, LC No. 08-045647-DE Appellee. Before: MARKEY, P.J., and WILDER and STEPHENS, JJ. PER CURIAM. This case arises from a dispute regarding whether certain property belongs in decedent’s estate. The probate court held that a partnership existed between decedent Mark E. Moon and his father, appellee Merlin Moon, and that appellee therefore has a 50% ownership stake in several items that had been listed in the estate inventory. Appellant Kristina Moon, the personal representative of ... [Continue Reading]
Farmers Face Unique Challenges in Estate and Succession Planning
Planning for the succession of the family farm poses some unique challenges and should not be undertaken by those who are not familiar with the industry. While farmers are similar to many closely held business owners, there are some situations that make them unique. For example, farmers tend to have high “book value” because so much of their estate consists of land. However, they tend to have low cash value and lack liquidity. This situation used to cause a severe problem when a farmer died because the value of their estate would most often exceed the amount of the exemption or “unified credit” for federal estate taxes and the estate would struggle to find sufficient cash to pay the estate tax. However, this situation has been greatly mitigated now that the unified credit amount is over $5,000,000 per person and over $10,000,000 per ... [Continue Reading]