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Category: Asset Protection

The Dingeman & Dancer Blog consists of articles, news, and press releases written and edited by the attorneys and legal professionals at our firm, providing updates on both recent legal developments and established advice and guidance. Choose from the various topics listed in the sidebar menu to narrow in on a particular focus.

New Bankruptcy Law for Small Businesses

Author: W. Dane Carey The Small Business Reorganization Act of 2019 will go into effect in February 2020. The Act creates a new Subchapter V under Chapter 11 of the US Bankruptcy Code and is intended to streamline the process for small business reorganizations and make restructuring faster and less expensive. The Act provides a…

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Four Exit Plan Mistakes for Family Business Owners to Avoid

Author: Dane Carey Many of our clients are family business owners—some large, some smaller. There are many similarities, and many differences among this group of clients. But one thing that all family business owners share is the common need for an established and well thought out exit plan. When working with clients on this issue, we…

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Controversy in Aretha Franklin’s Estate Highlights Importance of Estate Planning

By Katie Sabo It was presumed that Aretha Franklin did not have a will or trust in place when she passed away in August 2018. However, eight months after her death, three handwritten documents were found in her home, each of which appear to be Ms. Franklin’s attempt at a handwritten will. At least one…

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Michigan Abolishes Dower Rights

Author: W. Dane Carey Early this year, Governor Snyder signed into law legislation that abolishes all statutory or common law rights of dower in Michigan. The newly signed law went into effect on April 6, 2017, making transfers of real estate in Michigan are no longer subject to a potential dower claim, with the exception…

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Michigan’s New Asset Protection Tool

Author: W. Dane Carey Michigan has just taken a big step toward modernizing its trust laws. With the recent passage of the Qualified Dispositions in Trusts Act, Michigan is now one of a small group of states that allows individuals to create what is known as a “domestic asset protection trust” (DAPT), which is a flexible tool…

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