Sunday, December 1, 2024

Avoiding Probate Pitfalls: Common Mistakes and New Michigan Laws

estate planning attorneys Ann Arbor

Due to the complexities of your financial affairs, clients often fail to get all their assets into trust. Probate is required after they pass away. We call this “oops” because their intent is to avoid probate but human error makes it necessary. For example, we’ve experienced the following “oops” situations: 

 

1.     A client opened an investment account for $15,000 in her name alone after her trust was set up. She forgot to title it into her trust. Under Michigan law, a short probate proceeding (2-page application with a court order) was opened to distribute this account to the heir because the value of the account was under $25,000.

2.     A successor trustee found a $40,000 bank account in his father’s name only while administering the trust. The father forgot to title the bank account into his trust, so we had to open up a full probate estate and spend over $1,000 in attorney fees because the value of the bank account was over $25,000.

3.    Before covid a deceased mother forgot to name her children on an annuity. She remembered to do so on the other 6 annuities but forgot on the 7th one. We had to open a full probate proceeding in Wayne County Probate Court to distribute this $40,000 annuity to her children because, again, the value of the annuity was over $25,000.

 

As you can see, an “oops” situations happen, so it’s important to double check the titling of your assets throughout your entire financial life. 

 

In the meantime, under a new Michigan law, the scenarios in #2 and #3 above would be easier. Learn more about the common pitfalls of probate here and how you can protect your assets here.

 

Get Started Today: Schedule Your Consultation

 

If you’re interested in learning more about estate planning, please contact an estate planning attorney in Ann Arbor at 734-665-4441.

Friday, November 15, 2024

Understanding State Medical Boards

What is a State Medical Board (SMB)?
civil litigation Ann Arbor

A State Medical Board (SMB) is a regulatory agency established to oversee the practice of medicine within its jurisdiction. These boards are crucial in ensuring that physicians meet specific standards of education, training, and conduct.

Key Functions of an SMB:

  • Licensing: SMBs issue licenses to physicians who meet the required qualifications and standards.
  • Investigations: They investigate complaints filed against physicians and determine if there are grounds for disciplinary action.
  • Discipline: SMBs have the authority to impose disciplinary measures, ranging from reprimands to license revocation, on physicians who violate medical practice laws or ethical codes.
  • Evaluation and Rehabilitation: In some cases, SMBs may refer physicians for evaluation or rehabilitation programs to address issues that could potentially impact their practice.

The Role of SMBs in Protecting Public Health

SMBs play a vital role in protecting public health by ensuring that only qualified and competent physicians are allowed to practice medicine. By investigating complaints and taking appropriate disciplinary action, SMBs help to maintain high standards of medical care and protect patients from harm. 

Get Started Today: Schedule Your Consultation!

If you are considering filing a complaint against a physician, it may be beneficial to consult with a civil litigation attorney in Ann Arbor. A legal professional can advise you on your rights and help you navigate the complaint process.


For more information or to speak with us about your legal issue, please contact our attorneys in Ann Arbor at 734-665-4441. To learn more about Pear Sperling Eggan & Daniels, P.C., or any of our attorneys, please visit learn more about us here.

Friday, November 1, 2024

A Guide to Reporting Physician Complaints

When to File a Complaint
civil litigation Ann Arbor

If you believe that a physician engaged in misconduct or violated medical practice laws, you may consider filing a complaint with your State Medical Board (SMB). This can include situations such as:

  • Medical malpractice: When a physician's negligence or error leads to harm.
  • Substance abuse: If a physician is suspected of being under the influence of drugs or alcohol while practicing.
  • Sexual misconduct: When a physician engages in inappropriate or harmful behavior of a sexual nature.
  • Fraud: If a physician is involved in billing fraud or other financial misconduct.

How to File a Complaint


The process for filing a complaint with an SMB may vary by state, but generally involves the following steps:

  1. Contact the SMB: Gather information about the SMB in your state, including contact details and filing procedures.
  2. Provide details: Be prepared to provide a detailed description of the incident, including dates, times, and names of witnesses.
  3. Submit documentation: Gather any supporting documentation, such as medical records or witness statements.
  4. Follow up: After submitting your complaint, follow up with the SMB to inquire about the status of the investigation.

Get Started Today: Schedule Your Consultation!


If you’re considering filing a complaint against a physician, it may be beneficial to consult with a civil litigation attorney in Ann Arbor. A legal professional can advise you on your rights and help you navigate the complaint process.


For more information or to speak with us about your legal issue, please contact our attorneys in Ann Arbor at 734-665-4441. To learn more about Pear Sperling Eggan & Daniels, P.C., or any of our attorneys, please visit learn more about us here.

Tuesday, October 15, 2024

Navigating the Corporate Transparency Act: A Step-by-Step Guide to Filing Beneficial Ownership Information

business attorney Ann Arbor

The Corporate Transparency Act (CTA) has imposed new reporting obligations on many businesses. Our  step-by-step guide will help you understand and fulfill your reporting requirements.

Step 1: Determine if You’re a Reporting Company

The first step is to assess whether your company falls under the CTA's jurisdiction. This involves considering factors such as your company's structure, size, and activities.

Step 2: Identify Your Beneficial Owners

Once you've determined that your company is subject to the CTA, you need to identify all of your beneficial owners. This may require gathering information from shareholders, partners, and other stakeholders.

Step 3: Gather Required Information

For each beneficial owner, you must collect the following information:

  • Full name
  • Date of birth
  • Current residential address
  • Unique identifying number
  • A photocopy of identification

Step 4: Create Your Report

Using the collected information, you must create a BOI report that accurately reflects your company's ownership structure.

Step 5: File Your Report

The report must be filed electronically through FinCEN's Beneficial Ownership Secure System (BOSS). Be sure to follow the specific instructions and deadlines provided by FinCEN.

Step 6: Maintain Records

After filing your report, it's important to maintain accurate records of your beneficial ownership information to ensure compliance with the CTA and address any future inquiries.

Complying with the Corporate Transparency Act can be complex, but by following this step-by-step guide, you can ensure that your company meets its reporting obligations. For more information or to speak with us about your legal issue, please contact our business attorneys in Ann Arbor at 734-665-4441.Schedule an initial consultation. 

Tuesday, October 1, 2024

Understanding the Corporate Transparency Act: New Reporting Requirements for Businesses

business attorney Ann Arbor

The Corporate Transparency Act (CTA) has introduced significant changes to the way businesses operate in the United States. Effective January 1, 2024, certain companies are now required to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN).

Who is Affected?

The CTA applies to a wide range of businesses, including:

  • Domestic corporations
  • Limited liability companies
  • Foreign entities registered to do business in the US

However, some exemptions exist, such as for publicly traded companies, certain nonprofits, and large operating companies.

What Information is Required?

Reporting companies must provide detailed information about their beneficial owners, which are individuals who:

  • Exercise substantial control over the company
  • Own or control 25% or more of the ownership interest

For each beneficial owner, companies must report:

  • Full name
  • Date of birth
  • Current residential address
  • Unique identifying number
  • A photocopy of identification

Reporting Deadlines and How to File

The reporting deadlines vary depending on when the company was formed. Existing companies must file by January 1,2025, while new companies have shorter deadlines. Reports must be filed electronically through FinCEN's Beneficial Ownership Secure System (BOSS).

The Importance of Compliance

Failure to comply with the CTA can result in significant penalties, including civil fines and criminal penalties. It is essential for businesses to review their company structure and determine if they’re subject to these reporting requirements. Consulting with legal counsel can help ensure full compliance.

The Corporate Transparency Act has introduced new transparency measures for businesses in the United States. Understanding the requirements and complying with them is crucial to avoid penalties and maintain a positive reputation. For more information or to speak with us about your legal issue, please contact our business attorneys in Ann Arbor at 734-665-4441.Schedule an initial consultation. 


Sunday, September 15, 2024

What Does The New Michigan Uniform Power of Attorney Act Change?

Durability of Power of Attorney
estate planning attorney Ann Arbor

If a power of attorney is executed in compliance with statutory requirements, it will automatically be durable without any need for an affirmative statement of durability in the power of attorney. This will help to ensure the principal’s wishes are followed in the event of a serious illness, debilitating injury or devastating accident. 

 

Statutory Forms and Legal Consultation

 

A potential positive outcome is that fewer guardianships and conservatorships will be necessary as the knowledge to create the document becomes more common. 

 

General and Specific Authority

 

General powers include authority over real and personal property, banking, stocks, bonds and other financial investments, insurance, annuities, litigation and claims, retirement and governmental benefits, and taxes. The form allows the principal to grant some or all the general powers to the agent. 

 

Learn more about the new Michigan Uniform Power of Attorney Act here.

 

Get Started Today: Schedule Your Consultation!

 

If you have questions regarding the New Michigan Uniform Power of Attorney Act, talk to an estate planning attorney in Ann Arbor before doing anything.

Sunday, September 1, 2024

The New Michigan Uniform Power of Attorney Act

estate planning attorney Ann Arbor

Did you know that the Michigan Uniform Power of Attorney Act (UPOAA), signed into law by Governor Gretchen Whitmer on November 7, 2023, took effect on July 1, 2024? What does this mean for you in regards to estate planning? Pear Sperling Eggan & Daniels, P.C. is here for you when it comes to answering all your legal questions and making sure you’re setup for success.

The UPOAA Act replaces the prior Michigan power of attorney law, designed to promote standardization, consistency and ease of use. The Act will help alleviate problems with enforcement previously caused by laws that varied from state to state. The Act provides the agent with broad powers while protecting the principal against abuse and fraud. It also provides the agent with reimbursement for expenses as well as reasonable compensation, unless specifically prohibited by the terms of the power of attorney. 

 

Learn more about the new Michigan Uniform Power of Attorney Act here.

 

Get Started Today: Schedule Your Consultation!

 

If you would like to learn more about estate planning in Ann Arborcontact us today! Estate planning attorneys at Pear Sperling Eggan & Daniels, P.C., can help assist you with your case and everything in between.