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Estate Planning, Health Care
June 14, 2019

June 15th is World Elder Abuse Awareness Day (WEAAD). An estimated 1 in 10 Americans over the age of 60 have experienced some form of abuse or mistreatment. WEAAD was created in 2006 to promote a better understanding of elder abuse and educate individuals on how to identify, address, and prevent abuse in the future. Elder abuse can take many different forms – physical, verbal, emotional, sexual, financial exploitation, or neglect. There are various warning signs that can help individuals identify when an elderly loved one is...

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Estate Planning
May 29, 2019

Photo by Sharon McCutcheon on Unsplash Is it a gift or a loan? Different requirements and issues are raised depending on how this question is answered. If it’s a gift . . . Most gifts do not require paperwork or IRS Forms to be filled out. In fact, presently individuals can gift up to $15,000 per recipient per year without paying any gift taxes, and married couples can combine their gifts and give up to $30,000 per recipient per year. Any amount over that $15,000 means the...

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Estate Planning, Pet Planning
March 7, 2019

The Law Office of Matthew A. Ferri would like to congratulate Nash on achieving his therapy certification. As a therapy dog Nash will be able to visit hospitals, nursing homes, schools, and other facilities to help people take the time to “paws awhile for love.” We are excited for him to meet our clients and friends. Here he is resting after the test! ...

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Marketing
December 8, 2018

Today, we are celebrating 10 years, yes 10 years in business! Just as in the beginning, we are excited to continue helping small businesses and families with their planning and achieving their goals.  We are thankful for all of our clients and friends we have made along the way. We appreciate the ability to give and gain advice throughout our journey.  We look forward to continuing this path and look forward to the next ten years....

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Estate Planning
November 26, 2018

General Motors is currently offering buyouts to 18,000 salaried employees who have 12 or more years of experience. Employee buyout packages can come in the form of a one-time lump sum payment, which without proper planning, can have tax and estate implications. If you decide to take the buyout, there are a few things to consider. Where is the money going to be deposited? If you deposited the money into a bank account and were to pass away without designating beneficiaries, then...

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Business
November 16, 2018

It is fall in Michigan (even though it certainly looks and feels like winter), and now is the time to prepare for a productive new year. For small business owners, you should be considering ways to improve your operations in 2019. One way is to review your business documents. This is important for a small business owner, because dealing with legal issues before they become problems reduces costs and increases your chances of a successful outcome. When was the last time...

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Estate Administration, Estate Planning
January 17, 2018

The headline reads: Michigan mother-of-two 'stole $200,000 from life insurance policy her teen daughters received when their father died' The headline leaves us asking, “how did this happen and why would a mom do this?” After reading the story, we learn that the mother was divorced from the father and then the father passes away leaving his minor children as the beneficiary on the life insurance policy. Since minors cannot inherit until 18, a conservator was appointed to manage the money. In...

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