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Piercing the Limited Liability Company Veil
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…
Read More7 Tips for Handling Email
“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…
Read MoreForfeiture vs. foreclosure of land contracts in Michigan? 5 things to consider
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…
Read MoreSeven Asset Protection Planning Tips
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…
Read MoreIf you are sued – Five things you should know about litigation
“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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