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Piercing the Limited Liability Company Veil

Apr 20, 2015

The Michigan Limited Liability Company Act (“LLC Act”) extends absolute immunity to members of a limited liability company (“LLC”) from the liabilities of the entity “unless otherwise provided by law.” The LLC Act arguably does not permit a court to extend the doctrine of “piercing the corporate veil” to LLCs. However, many courts have extended…

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7 Tips for Handling Email

Jan 20, 2015

“Before you speak, think- Is it necessary? Is it true? Is it kind? Will it hurt anyone? Will it improve on the silence?” Sri Sathya Sai Baba If you do not have one in place, consider an email protocol or policy for your company. Email can create risk for a company if used improperly. For…

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5 Reasons to Create an Operating Agreement for your LLC

Dec 29, 2014

While Michigan law does not require limited liability companies to have an Operating Agreement, the Operating Agreement is important because it sets forth the rules for operating your Michigan limited liability company (“LLC”). An LLC is formed in Michigan by an organizer filing the Articles of Organization (the “Articles”) with the Michigan Department of Licensing…

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Forfeiture vs. foreclosure of land contracts in Michigan? 5 things to consider

Nov 3, 2014

When a buyer defaults on a land contract, the seller can generally pursue one of two legal remedies: forfeiture or foreclosure. Both remedies have advantages and disadvantages. In general, forfeiture is faster, cheaper and easier than foreclosure but does not allow you to accelerate the debt or obtain a deficiency judgment. Forfeitures are summary proceedings…

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Seven Asset Protection Planning Tips

Sep 28, 2014

Seven Asset Protection Planning Tips “The time to repair the roof is when the sun is shining.” John F. Kennedy Asset protection planning seeks to protect your assets from future creditors. An asset protection plan is designed to deter future creditors from seizing your assets or collecting on judgments. Coordinate your asset protection planning with…

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If you are sued – Five things you should know about litigation

Jul 31, 2014

“Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough.” Abraham Lincoln Being sued is stressful. Litigation brings visions of ruthless attorneys, reams of papers and endless money spent on legal fees. However, taking an active,…

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