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 better path for small…
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.
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 have noticed…
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…
What Are Dower Rights? Dating back centuries, dower rights existed to give women (who couldn’t own property when the rights were first employed) the right to one-third of their deceased husband’s real estate. The original intent behind dower rights was to ensure married women had the means to support themselves and any children after the…
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 for transferring and…