Archive for the ‘Cottage Law Attorney’ Category
Cottage Law and Using Gifting to Avoid Estate and Gift Taxes
October 25th, 2011
| Author: Dan A. Penning
Going, Going, Gone!
Tax-free transfers – gifting – of the family cottage to future generations via a cottage succession plan is a great opportunity for cottage owners to enjoy considerable tax savings while real estate values are suppressed.
Posted in Cottage Law, Cottage Law Attorney, Cottage Succession Planning, Cottage-Law.com, CottagePlanning, Uncapping Property Taxes
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Tags: "1932 gift tax", "annual exclusion", "estate taxes", "gift assets", "gift tax exceptions", "gift tax", "gifting", "overall gift tax exemption", "tax-free transfers of assets", "tax-free transfers", Cottage Law, cottage operating agreement, cottage succession plan, Family Cottage, klooster, legacy assets, uncapping
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Michigan Cottage Planning
June 12th, 2011
| Author: Dan A. Penning
Succession Planning for Vacation Property
Steps for Cottage Sharing
With summer here, many families will be enjoying their family cottages during the span of summer’s endless sunshine defining the lazy days of summer at the family cottage.
Posted in Cottage Entity Laws, Cottage Law, Cottage Law Attorney, Cottage Real Estate Laws, Cottage Succession Planning, CottagePlanning, Entity Laws, Family Cottage
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Tags: Cottage Law, cottage llc operating agreement, cottage planning, cottage planning laws, CottagePlanning, family cottage sharing, michigan cottage law, michigan llc, real estate law, succession planning, vacation property, vacation property succession plan
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Keeping the Family Cottage – Cottage Succession Planning and Forms of Ownership
March 29th, 2011
| Author: Dan A. Penning
They say, “beauty is in the eye of the beholder.” That’s especially true when applied to the family cottage. Whether the family cottage is a small rustic cabin on a pristine lake or stream, a luxurious retirement home on one of the Great Lakes or ocean shore, or a family retreat in some stunning mountain region, it’s not “economic value” that is the most important factor in keeping the family cottage, it’s the “emotional value.”
Posted in Cottage Entity Laws, Cottage Law, Cottage Law Attorney, Cottage Succession Planning, Direct Ownership, Entity Laws, Family Cottage, Indirect Ownership, Limited Liability Company, Tenants in Common, Uncapping Property Taxes
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Tags: Cottage Law, cottage succession plan, creditor protection, direct transfers of ownership, divorce, entity, Family Cottage, family limited partnerships, flp, gift of the family cottage, great lakes, joint tenants with rights of survivorship, life estate, lifetime trust, Limited Liability Company, llc, luxurious retirement home, michigan, northern michigan, operation and maintenance of the family cottage, outright transfers of ownership, qprt, qualified personal residence trust, revocable living trust, rustic cabin, Tenants in Common, transfers of deed
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“No, Spike Doesn’t Do That”
November 19th, 2010
| Author: Dori Penning
The Mouse Adventure with The Cottage Cat “Spike” at The Depot
We became owners of a fluffy 20 pound orange and white barn cat name Spike. Spike lives in The Depot- the northern Michigan offices of The Penning Group, and formerly the law offices of Stuart J. Hollander, attorney author of “Saving the Family Cottage – A Guide to Succession Planning for your Cottages, Cabin, Camp or Vacation Home.”
In the Know at The Family Cottage
November 14th, 2010
| Author: Dori Penning
The Detroit Free Press just ran a section on the Top Workplaces ‘10. In this article 41,000 workers spoke about the top states workplaces. Employees basically stated that 6 reasons really made a difference in the workplace. They were rated on importance factors.
Posted in Cottage Law, Cottage Law Attorney, Cottage-Law.com, Family Cottage
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Tags: Cottage Law, top workplaces
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Stories To Tell At the Family Cottage
August 12th, 2010
| Author: Dori Penning
The family cottage sets in motion vacations to remember. At the family cottage you relax, unwind and nurture yourself. It is a wonderment and an oasis of peace on the water’s edge. It doesn’t matter how you spend your day off from work or household chores. Enjoy nature whether you bike, boat, hike, or simply take a swim. My teens and my husband Dan enjoy swinging a club or two at the golf course. Even if you enjoy watching the world go by, it is just fine.
The Best of Friends at the Family Cottage
August 12th, 2010
| Author: Dori Penning
Our summertime friends helped us celebrate Casey.
Conor and The Rose Lizard Club sign
Posted in Cottage Law, Cottage Law Attorney, Cottage Real Estate Laws, Cottage Succession Planning, Cottage-Law.com, Family Cottage, Family Cottage Memories
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Tags: casey penning, Cottage Law, cottage succession plan, Family Cottage, friends, keeping the family cottage in the family, rose lizard, rose lizards club
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The Perfect Summer Picnic at the Family Cottage
August 11th, 2010
| Author: Dori Penning
The family cottage is a fabulous place for new beginnings and perfect endings. August is National Picnic Month. There is no better way than celebrating with family and friends – birthdays or holidays – at the family cottage, than with a picnic. So pull out your blue and white checkered table cloth (or red and white checkered) and a wicker picnic basket.
Skunks at the Family Cottage in Northern Michigan
August 11th, 2010
| Author: Dori Penning
Summer began as usual at the family cottage. The dogs, our chocolate labs Jake and Ginger, and our two cats Max and Joey and the three teen boys plus a friend were all settled in for a glorious summer at the cottage.
Posted in Cottage Law, Cottage Law Attorney, Cottage Succession Planning, Family Cottage, Family Cottage Memories
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Tags: cottage succession plan, critters at the family cottage, Family Cottage, leaving cottage to family members, leelanau county, michigan cottage law, northern michigan, saving the family cottage, suttons bay
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Cottage-Law.com – A Way of Life for the Family
August 11th, 2010
| Author: Dori Penning
A cottage in northern Michigan is a way of life. It is a place with a purpose. It awakens the heart. There is passion and dreams at a cottage. There are water bays, beaches, bonfires, friends, family, pets, and vineyards with great wineries. A cottage is a feeling of peace. This becomes a beautiful place to be, especially when you don’t want to be anywhere else.