Business Formation & Succession Law
Attorneys Ensuring Proper Business Formation
Selecting the right entity type for your business is vital to guarantee a successful start up. At Fedor, Camargo & Weston PLC, our attorneys possess the expertise and experience required to ensure successful start up for your business. With specialized knowledge in the areas of business formation, our attorneys will sit down with you and carefully analyze your personal needs, as well as those of your business. Using that information, our attorneys will craft a detailed and individualized plan for you that will ensure your business gets off to the right start. Occasionally it becomes necessary to change the business entity as the business grows and changes. Our attorneys can also assist you with your legal needs as your business grows and adapts to the ever changing business climate, including making the necessary changes to protect your assets as well as those of your business.
Winding Down: Planning for Business Succession
It has been said that the first plan a business needs is an exit plan. Planning for an appropriate exit strategy should be an initial consideration in the formation of any business. Whether your exit strategy is to pass along the business to a family member, grow and then sell the business, or take the company public, our attorneys can help you create a solid plan from the beginning to the end. Even if your business was formed without an exit strategy, our attorneys can analyze your current business situation and devise a sound exit plan that will safeguard your personal needs as well as your business needs.
Representing Our Clients
Fedor, Camargo & Weston PLC has gained a well-deserved reputation for successfully representing individuals and companies who find themselves in the midst of civil litigation. Whether you or your company are the defendant or the plaintiff in a lawsuit, you need experienced litigators who have worked on a wide variety of civil litigation cases. At Fedor, Camargo & Weston PLC, our attorneys are tough, experienced and skillful litigators who always strive for the best.
At Fedor, Camargo & Weston PLC, our experience ranges from straight-forward contract disputes to complex document-intensive litigation. Our attorneys have the knowledge and sophistication to handle any civil dispute that can arise in Michigan. We will use our experience and trial skills to resolve your dispute favorably. Our goal in every case is to achieve our client’s objectives as quickly and cost-effectively as possible.
Experience with a Full Range of Issues
Our attorneys have expertise in numerous areas of civil law. We handle civil litigation cases involving:
- Estate litigation – will contests, probate disputes and trust litigation
- Insurance claims – disputes over insurance coverage under auto, homeowners, health, disability, life and commercial insurance policies
- Commercial litigation – breach of contract, non-compete agreements, partnership and shareholder disputes
- Real estate – disagreements over the construction, purchase, or leasing of commercial or residential property, condemnation and eminent domain, boundary disputes, zoning issues, annexation, and tax disputes
- Contract Disputes – disputes over contracts involving business, real estate, promissory notes, collection matters and all types of contracts
Experienced Construction Law Attorneys
At Fedor, Camargo & Weston PLC, we represent builders, owners, contractors, sub-contractors, and suppliers in all facets of construction law. Our attorneys understand that construction disputes and litigation can have a significant impact on the profitability of a construction project. We are committed to helping clients quickly and effectively resolve issues related to construction projects. Our attorneys represent clients in the construction industry in all aspects of their business, from incorporating a business and drafting and reviewing contracts to handling the arbitration, trial and/or mediation of construction-related claims. Our firm is able to provide legal advice and representation in a full range of construction law matters:
- Construction contract disputes
- Drafting, reviewing, and negotiating construction contracts
- Foreclosure matters
- Performance bonds
- Surety claims
- Architect and engineer liability
We are prepared to represent clients in construction projects ranging in value from smaller residential construction projects to projects worth $100s of millions of dollars. We have significant experience appearing before local, state, and federal agencies in a wide range of environmental and land use matters.
Litigation is an ever-present concern during construction projects. There are literally thousands of issues in any project that can lead to construction litigation. We have extensive experience handling construction mediation, arbitration, and litigation. Our objective in any construction dispute is to quickly resolve the matter and minimize the financial impact on our client.
Estate Planning and Wealth Preservation
At Fedor, Camargo & Weston PLC, we view each client on a broad spectrum, taking in account all of your circumstances to create estate planning solutions that fit your specific needs and desires. Estate planning is a broad term used to describe various aspects of planning your future. In fact a comprehensive estate plan may encompass not only documents like a will and trust, but also a business succession plan or the establishment of college funds for your grandchildren.
Estate Planning also provides for your life situations in the case of incapacity. If you become incapacitated how would you manage your affairs? Without proper planning someone may have to go to court to obtain legal authority to act on your behalf, causing unnecessary delay and expense. Proper planning can avoid unnecessary expense and delay through the use of revocable living trusts, powers of attorney, and other planning methods available to you.
Medical Power of Attorney
Estate Planning also provides a way to you to decide who would make medical decisions on your behalf if you are unable to participate in your care. You can appoint a loved one to make medical decisions on your behalf if you become incapacitated. Although people believe that their families know their wishes when it comes to medical care, often in times of stress and anxiety over medical emergencies difficult decisions become impossible. Through proper estate planning prior to your incapacity you can appoint someone you trust to make these decisions if you become unable to do so. We can provide clients with patient advocate designations, living wills, and HIPAA disclosure forms to provide a peace of mind in such trying times.
Unnecessary Expense and Delay
Estate planning can avoid the delay and expense of probate. Without proper planning probate court proceedings may be necessary to transfer assets in the deceased person’s name. When a probate case is filed in court, the information filed with the court becomes public record and anyone may view its contents. Additionally, under traditional probate proceedings creditors have 4 months to make claims against the estate which can mean a delay in transferring your assets to your loved ones. We can help you avoid this time consuming and expensive process and help you pass your assets to loved ones faster and without unnecessary expense.
Estate planning can also provide for minor children. Without proper planning, children will not only be forced to deal with the loss of a parent, but may also be subject to a judge deciding who will raise them and who will be in control of their finances. Additionally, once a child reaches the age of 18, they are considered an adult and can take control of their assets. Proper estate planning can prevent the misuse of assets, protect the child’s assets from unscrupulous persons and avoid unnecessary financial burdens.
Estate planning can also help you to maximize your tax savings and avoid the “death tax” if possible. Through proper estate planning you can minimize the effect of estate taxes and also minimize income taxes through proper handling of retirement accounts.
Estate planning ultimately is for the ones we leave behind. It is for our families and friends so that in their time of grief and sadness they are not also forced to deal with financial, business or other decisions we did not intend.
Estate planning is one of the most important steps any person can take to make sure that their final property and health care wishes are honored, and that loved ones are provided for in their absence. Though often overlooked or put off in favor of more immediate concerns, a comprehensive estate plan can resolve a number of legal questions that arise whenever anyone dies: What is the state of their financial affairs? What real and personal property do they own? Who gets what? Does a personal guardian need to be appointed to care for minor children? How much tax will need to be paid in order to transfer property ownership? What funeral arrangements are appropriate?
What is an “Estate”?
Your “estate” consists of all property owned by you at the time of your death, including:
- Real estate
- Bank accounts
- Stocks and other securities
- Life insurance policies
- Personal property such as automobiles, jewelry, and artwork
How Can an Estate Plan Help?
Regardless of your age, or the size and complexity of your estate, an estate plan can accomplish the following:
- Identify the family members and other loved ones that you wish to receive your property after your death.
- Ensure that your property will be transferred to those you have identified, as quickly and with as few legal hurdles as possible.
- Minimize the amount of taxes that will need to be paid in order for your property to pass to others after your death.
- Avoid the time and costs associated with the probate process by utilizing estate planning devices like living trusts and “payable on death” bank accounts.
- Dictate the kinds of life-prolonging medical care you wish to receive should you be unable to make your wishes known when the time comes.
- Set forth the kind of funeral arrangements you would like, and how related expenses are to be paid.
Understanding the estate plan options that are right for you can be a complex undertaking. The attorneys of Fedor, Camargo & Weston PLC can help you identify your estate planning needs, recognize potential solutions, and help you through every step of the estate planning process.
Obtaining Liquor Licenses
Liquor licenses can be a great source of profitability. However, they can also be a great source of consternation, especially in light of Michigan’s very complex liquor licensing laws. At Fedor, Camargo & Weston PLC, our attorneys have specialized experience in navigating through Michigan’s liquor licensing laws. Our attorneys have achieved excellent results assisting clients in obtaining their liquor licenses, as well as in assisting clients in maintaining those licenses.
Liquor License Violations
Compliance with Michigan’s liquor licensing laws is strictly monitored by state agencies. Enforcement of violations can be swift and harsh. If faced with a violation of the liquor licensing code, it pays to have attorneys that not only understand the intricacies involved in Michigan’s liquor licensing laws, but that have also developed relationships with the agencies monitoring those laws. The difference between hiring an attorney who has specialized expertise in this area of law and hiring any other attorney can be the difference between keeping your license intact and losing it. In other words, it can be the difference between sustaining profits and watching those profits falter. At Fedor, Camargo & Weston PLC, you can rest assured that our attorneys have the specialized knowledge necessary to assist you in the face of an alleged liquor code violation.
Probate and Trust Administration
Administering an estate after a loved one has passed can be stressful and confusing at times. In addition to the emotional loss of the individual, there is the need to administer the deceased’s estate in a timely and organized way. With specialized knowledge in the area of probate and trust administration, our attorneys have the expertise required to ensure that your probate matters are handled in a sensitive, but effective and efficient manner.
Probate court administration is through the local probate court, typically where the deceased person lived.
If a person dies with a Will (otherwise known as “testate”), the probate court is necessary to give the Will legal authority. In other words, if all you have is a Will, probate court will likely be necessary to give the Will document legal authority. A probate court can determine if the Will is valid, hear any objections to the Will, order that creditors be paid and supervise the process of administration to assure that property remaining is distributed in accordance with the terms and conditions of the Will.
If a person dies without a Will (otherwise known as “intestate”), the probate court is the only authority that can appoint a personal representative, give authority to transfer assets solely in the name of the deceased, receive all claims against the estate, pay creditors and then distribute all remaining property in accordance with the terms of the Will. The major difference between dying testate and dying intestate is that an intestate estate is distributed to beneficiaries in accordance with the distribution plan established by Michigan law; a testate estate (after payment of debts, taxes and costs of administration) is distributed in accordance with the instructions provided by the decedent in their Will.
Disadvantages of Probate:
The cost of probating an estate can typically range from 3% to 7% of the total estate value.
The file of a probate estate is open to the public and viewable by anyone who wants to see the file.
The minimum time a standard estate must remain open is 4 months after publishing public notice in the legal newspaper. This time period may delay the distribution of your assets to loved ones.
Advantages of a Trust:
The terms and details of your trust are not public information and available only to certain persons under Michigan law.
The terms of your trust can provide methods to provide financially for your loved ones immediately after your death. This will eliminate delay in using the trust assets for the benefit of those you leave behind.
You can control the timing of distributions from your trust, provide safeguards for specific concerns you may have about those receiving distributions from the trust and have the flexibility to customize how you would like your assets distributed.
Trust administration can be a more private, faster, and typically easier way to pass your assets on to loved ones as compared to the use of probate. Many clients choose the flexibility of a trust based estate plan to avoid the expense, delay and public nature of going through the Michigan probate court system.
Duties of Administrator:
The duties of the person in charge of administering the estate, either as a personal representative of a probate estate or a trustee of a trust include collection of assets, management of assets, and disbursement of assets. Often times, these obligations are set by Michigan law. We can help you navigate this complex system and advise you on how to avoid personal liability in the administration process.
Out of State Clients:
We have extensive experience in working with out of state clients who are personal representatives and trustees for estates in Michigan. Contact us to see how we can assist you with all of your estate and trust administration needs.