Cottage Law Blog – Page 3 – Cottage Law Center

Boston Globe Article

December 1, 2016 By Cottage Law Center Leave a Comment

This article quoting Mr. Fry appeared in the Boston Globe on November 25, 2016. https://www.bostonglobe.com/business/2016/11/25/leaving-summer-cottage-your-children-consider-llc/zfW0183N1ankHMCNpcSWFI/story.html … [Read more...]

Filed Under: In the News Tagged With: Boston Globe, cabin, Cape Cod, children, cottage law, Cottage Law Center, cotttage, David Fry, estate planning, family, inherit, lake property, limited liability company, LLC, Maine, Massachusetts, Northern Trust Co., parents, relationship, siblings, succession planning, summer, vacation home, vacation house

Property Taxes in Michigan

November 21, 2016 By Cottage Law Center Leave a Comment

One of the most significant expenses of owning and maintaining vacation property is property taxes. Michigan has a somewhat complex and often confusing system of accessing taxes. We have provided the most current information, which will explain how … [Read more...]

Filed Under: Cottage Law Blog, Featured

CLIENTS–NEW PROPOSED LEGISLATION ON UNCAPPING-ACTION NEEDED!

December 9, 2015 By Mark E. Kellogg 6 Comments

Cottage Law Clients and Friends: Many of you have contacted me in the past and expressed interest in any new or potentially new legislation in Michigan regarding “uncapping” of property values for property tax purposes. As many of you know, the law … [Read more...]

Filed Under: Featured, In the News Tagged With: 2012, 2013, 2014, 2015, attorney, bill, bills, children, committee, cottage law, Cottage Law Center, cottage succesion planning, David Fry, deceased, Department of Treasury, estate, family, father, first degree, Governor, guidelines, HB 5141, house, House Bill 5139, House Bill 5141, House of Representatives, law, legislation, Legislature, Michigan, mother, new, owner, PA 310, PA 497, pass, planning, property, property tax, property tax law, public act, saving the family cottage, SB 648, senate, Senate Bill 648, SEV, siblings, spouse, state equalized value, tax bill, tax commission, taxable value, transfer of ownership, transferee, transferor, Trust, uncapping, vacation, vacation property, value, website, will

PUBLIC ACT 310 NOW EFFECTIVE!

October 16, 2014 By Mark E. Kellogg 42 Comments

PUBLIC ACT 310 NOW EFFECTIVE! Public Act 310 of 2014 (HB 5552) was passed and signed by Governor Snyder in October, 2014. This new law created another exemption from the “uncapping” of property values for property tax purposes on transfers of … [Read more...]

Filed Under: Cottage Law Blog, Featured Tagged With: 2012, 2014, adopted, affinity, assessing, assessment, assessor, attorney, beneficiaries, beneficiary, blog, brother, corporation, cottage, cottage law, Cottage Law Center, cottage succession planning, daughter, David, David Fry, death, deceased, December 31, Department of Treasury, family, father, first degree, Fry, Governor, granddaughter, grandson, HB 5552, house, House Bill 5552, Last Will and Testament, Legislature, limited liability company, LLC, Michigan, mother, new law, October, owner, PA 310, PA 497, partnership, personal representative, property, property taxes, property value, Pubic Act 310 of 2014, Public Act 310, Public Act 497, Public Act 497 of 2012, qualify, question, real estate, real property, saving the family cottage, schedule, senate, settlor, SEV, sister, Snyder, son, State of Michigan, step, tax bill, Tax Tribunal, taxable value, transfer, transfer of ownership, transferee, transferor, Trust, trustee, uncapped, value, will

Return to top of page

Copyright © 2021 Cottage Law Center

Phone: (517) 482-5800 | Fax: (517) 482-0887
124 W. Allegan, Suite 1000, Lansing, MI 48933

Advice on this site may not be suited to your situation and should not be acted upon without consulting a professional advisor. Circular 230 disclaimer: (1) nothing contained in this message was intended or written to be used, nor can it be used or relied upon by you (or any other taxpayer) for the purpose of avoiding penalties that may be imposed on you (or any other taxpayer) under the Internal Revenue Code, (2) any written statement contained in this message relating to any Federal tax transaction or matter may not be used by any person to support the promotion or marketing of or to recommend any federal tax transaction(s) or matter(s) addressed in this message, and (3) you (or any other taxpayer) should seek advice based on your (or any other taxpayer's) particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this message.