This past spring in Lansing, during an act of governance which received little publicity, the legislature crafted — and the governor signed into law — the “Funeral Representative Act of 2016,” which now bestows the moniker of “fiduciary” on whomever you choose to represent your final wishes after you’ve cross into the hereafter. Senate Bill… [Continue Reading]
Please Text on the Dotted Line
As electronic communication continues to evolve and text messaging augments, or even supplants more “traditional” forms of electronic correspondence, people need to be increasingly on guard that the potential for a simple text message to be interpreted as a binding contract is not so farfetched. A case from last April, adjudicated in the Massachusetts Land… [Continue Reading]
Challenging Zoning Ordinances
Often the bane of homeowners, builders and land developers, zoning ordinances are typically the quintessential expression of local governance. Ordinances and zoning amendments are statutes approved by local bodies of elected officials placing standards on the use and development of private property. While enacted by locally elected officials, did you know the state Constitution provides… [Continue Reading]
Puerto Rico Gets Its Own Version of Emergency Manager
The U.S. Senate overwhelmingly approved a bill to rescue Puerto Rico’s finances only two days before the U.S. territory’s deadline on a $2 billion payment, but the island’s governor, Alejandro Garcia Padilla, declared his government would still not be able to pay bondholders. For Detroiters, this all sounds hauntingly familiar. The legislation, called the Puerto… [Continue Reading]
Will the New Overtime Rule Affect My Company?
With the stroke of a pen, President Obama updated the Department of Labor’s rule updating overtime regulations, which will automatically extend overtime pay protections to more than 4 million workers within the first year of implementation. This long-awaited update will result in a boost to many workers’ wallets, but what affect will it have on… [Continue Reading]
“Detroit” of the Caribbean
Puerto Rico is in the midst of a legal battle to save its economy through the levers of bankruptcy. Ironically, the same judge who oversaw Detroit’s Chapter 9 restructuring is now advising the Puerto Rican government in that effort. As noted by the Detroit Free Press, the essence of the island’s debt crisis is strikingly… [Continue Reading]
Beware The Man Bearing Gifts
There seems to be no dearth of stories in the news about unscrupulous con artists bilking unsuspecting victims of their money, especially when it comes to senior citizens. Earlier this month, an Ottawa County man was charged with more than 25 felonies and faces at least 30 years in prison for allegedly running a Ponzi… [Continue Reading]
Payday Lenders Get Reigned In With Proposed Rule Change
The Consumer Financial Protection Bureau on June 2, 2016 proposed new regulations to protect consumers from predatory lending practices that the CFPB’s top regulator calls “debt traps.” The new rules would cover a variety of small-dollar loans marketed to financially vulnerable consumers, such as payday loans, auto title loans (where the vehicle is used as… [Continue Reading]
Prince’s Lack of Financial Planning Will Cost His Heirs
When pop music legend Prince died last April, the world was shocked and the grief has been palpable. The second day lead that came out of his death was the fact the superstar died without a will — almost anathema for someone whose estate is reported valued at between $150-$300 million. Because of this huge… [Continue Reading]
High Court Expands Definition of Fraud
The U.S. Supreme Court issued a ruling this month that expands the definition of fraud in bankruptcy cases and it means a debtor can’t move money around and then claim insolvency. The high court reversed an appellate court ruling that a debt obtained through fraud can still be wiped away in bankruptcy as long as… [Continue Reading]
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