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Estate Planning News
Appointment To State Bar Of Michigan Board Of Commissioners
ANNOUNCED BY MICHIGAN SUPREME COURT
LANSING, MI, June 28, 2006 – The Michigan Supreme Court today announced the following appointments to the Board of Commissioners of the State Bar of Michigan:
Beverly Hall Burns of Detroit is an attorney and principal in the law firm of Miller, Canfield, Paddock & Stone, P.L.C.
Eric J. Pelton of Bloomfield Hills is an attorney and principal in the law firm of Kienbaum, Opperwall, Hardy & Pelton, P.L.C.
Michael J. Riordan of Plymouth is an Assistant U.S. Attorney in the U.S. Department of Justice.
Burns, Pelton, and Riordan are all appointed to three-year terms beginning in September, when the State Bar of Michigan adjourns its annual meeting. They will serve as commissioners at-large. Other commissioners are elected by the members of the State Bar.
The State Bar Board of Commissioners is one of two governing bodies of the State Bar of Michigan, the other being the Representative Assembly. The Board of Commissioners oversees the State Bar’s operations, including finance, public policy, member services, and strategic planning.
The costs and expenses of a conservatorship are paid by your estate
A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.
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Law Day, U.S.A., 2006
This year's Law Day theme, "Liberty Under Law: Separate Branches, Balanced Powers," honors the wisdom of the separation of powers that the Framers ... Read more >
Respondent Vigorously Argues
Respondent vigorously argues that this Commission lacks jurisdiction because of the doctrine of preemption. We find the Respondent's reliance on th... Read more >
Definition:
The process through which the legal title to property is transferred from a decedent to the beneficiaries. If a person dies with a will (testate), the probate court determines if the will is valid, hears any objections to the will, orders that creditors be paid and supervises the process to assure that property is distributed by the Personal Representative or Executor according to the terms of the will. If a person dies without a will (intestate) the probate court appoints an Administrator who receives all claims, pays creditors, and then distributes all property according to the laws of the state.
Transfer Tax
Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).
Tenancy-in-Common
Definition:
A form of ownership of property in which two or more persons share ownership (may be equal or unequal shares). At the death of a tenant-in-common, his/her share in the property transfers to his/her heirs, rather than to the other surviving owner(s). Compare with Joint Tenancy.
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