News
Jeffrey Neilson Appointed by Michigan Supreme Court to Attorney Grievance Commission Four-year term began October 1 The Michigan Supreme Court has appointed Lipson, Neilson Cole, Seltzer & Garin, P.C. Managing Partner Jeffrey Neilson as one of nine commissioners named to the Attorney Grievance Commission (AGC). Neilson’s three-year term began October 1. The AGC is the organization that investigates and commences misconduct proceedings against attorneys licensed in Michigan. Established in 1978 there are nine members that serve the AGC on a voluntary basis and are appointed by the Supreme Court. The AGC also employs a staff that includes attorneys and investigators. “I am very honored but this appointment and recognize its importance in helping to ensure the highest level of legal representation here in the state of Michigan,” said Neilson, a Grosse Pointe resident. “This is one significant example of our system having checks and balances to make sure that the attorneys entrusted by the business and residential community are operating with honesty and transparency.” Neilson said that the reputation that Lipson Neilson has for integrity and professionalism as a firm clearly contributed his appointment. “All of our professionals should take pride in being part of a firm that is so widely respected in the legal community,” he said. More information about the AGC is available at www.agcmi.com. Garin Featured Speaker at Three Key Legal Seminars Lipson, Neilson, Cole, Seltzer & Garin, P.C. partner Joseph Garin has been a featured speaker at several upcoming events and seminars in the Las Vegas area.
Angela T. Nakamura Ochoa Joins Lipson Neilson Las Vegas Office Las Vegas, Nevada. – Angela T. Nakamura Ochoa has joined Lipson Neilson’s Las Vegas office as a business litigation, real estate, insurance bankruptcy and immigration lawyer. Ms. Ochoa has extensive experience working with clients throughout the entire legal process, taking cases from an initial client meeting through discovery and trial. Her litigation work includes all areas of construction defect and real estate law, including but not limited to litigating breach of contract cases, defense of mortgage brokers, and defense of real estate brokers. Her immigration law experience includes the preparation of H1B, L1, E2, EB1/2, and permanent residency applications. “Angela bring a tremendous amount of industry knowledge to our firm and provides some great depth in a multitude of areas,” said Las Vegas partner Joseph Garin. “She has a tremendous litigation background and fully understands the complex issues our clients are faced with on a daily basis.” Lax Presents Webinar to Mortgage and Real Estate Pros Lipson Neilson Principal and Real Estate Practice Group Leader Howard Lax will present a webinar on Thursday, Oct. 13 through a mortgage compliance training organization on a wide range of rules related to how professionals in the mortgage and real estate industry can marketing themselves or advertising. Specifically Lax will present expert feedback on the FTC MAP rule, TILA advertising rules, RESPA marketing and joint advertising restrictions, SAFE Act advertising issues, selected state laws, FCC telemarketing rules, and other advertising and marketing concerns for mortgage loan advertising and marketing. This program is designed for mortgage brokers and lenders, loan officers, compliance officers, and anyone else who markets their loan origination services or who starts a web page to publicize the availability of mortgage credit, and anyone who reviews and approves marketing campaigns. Lax is recognized as a content and legal expert in the real estate field throughout the state of Michigan and regionally. He has written numerous articles and participated been asked to take an active role in many industry-related seminars, including through the Institute for Continuing Legal Education (ICLE). Lax has given many presentations to compliance officers, lenders, mortgage brokers, auditors, appraisers, and loan managers regarding regulatory and real estate issues and concerns, and documentation of consumer loans. He also has been regularly quoted by media outlets on real estate trends and issues. Further information regarding this program and a link to register are at www.Originator-Training.com. Seltzer, Lax Named to DBusiness Top Lawyers List for Metro Detroit Phillip Seltzer and Howard Lax have been selected to the DBusiness Magazine Top Lawyers list for 2011. Seltzer was named to the Legal Malpractice Law and Lax to the Banking Law categories respectively. Dbusiness Magazine, Detroit’s premier business journal, polled more than 15,000 private attorneys in the five county region of SE Michigan who were asked to nominate up to three attorneys in 49 specialized practice areas. Kelin Warns of Real Estate Tax Increases in State Bar Journal Lipson Neilson Bloomfield Hills attorney Douglas Kelin was recently published in the State Bar of Michigan eNewsletter on changes that the Health Care Education Reconciliation Act of 2010 has made to real estate income. You can read the entire article here. New Michigan Trust Code Changes Go Into Effect As we enter into the next decade in the new location of the Center for Estate Planning, our law offices remain committed to providing you with the most strategically arranged estate plans. To that end, I want to update you on a few items that could affect you and your families. CHANGES TO THE MICHIGAN TRUST CODE Effective April 1, 2010, Michigan joined 38 other states in adopting the Uniform Trust Code. While this does not invalidate prior estate planning, there are several noteworthy changes:
ESTATE TAX LAW
Congress enacted changes in the Estate Tax laws on December 17, 2010 (the “2010 Act”), some of which have retro-active effect to January 1, 2010 (unless a party takes affirmative action to opt out of such provisions). In this regard, the 2010 Act also provides significant planning options in the administration of trusts and estate for persons who died during 2010. The 2010 Act also enhances gifting opportunities currently available for 2011 and 2012, including, but not limited to: (i) an increase in the estate tax exemption to $5,000,000, (ii) reduction in the maximum rate from 55% to 35%, (iii) portability of the estate tax exemption as between spouses, and (iv) re-unification of the gift, generation skipping transfer tax and estate tax exemptions. However, care in planning is still required, because the modifications enacted in the 2010 Act only apply for a two year period and are set to expire on December 31, 2012. As a result, uncertainty in this area remains, and in the absence of further Congressional action, the estate tax exemption will return to a $1,000,000 exemption level. ROTH IRA CONVERSIONS Have you ever considered converting your regular IRA into a Roth IRA, which avoids the payment of income tax upon future distributions but in the alternative requires the immediate payment of income tax? If this is something of interest to you, we recommend doing so in conjunction with the advise of your financial or tax planner since this year there are income and tax payment alternatives that will not be available in future years. While these are just a few of the more significant changes now affecting estate plans, we recommend an overall review of your current estate plan to determine if any of these legal changes or your life changes would justify our involvement.
Lipson, Neilson Celebrated its 25th Anniversary by Giving Back to Michigan Entrepreneurs. The law firm of Lipson, Neilson, Cole, Seltzer & Garin, PC can identify with the challenges and opportunities currently faced by Michigan entrepreneurs in these difficult times. The Lipson Neilson firm was founded in 1985, at the cusp of an economic recovery beginning to develop 25 years ago. Since its modest beginnings with only 3 attorneys, Lipson Neilson has grown into a full-service law firm with four offices and 21 attorneys in two states. In celebration of its silver anniversary, Lipson Neilson reached out to entrepreneurs and emerging business owners charging down the same path that Lipson Neilson itself embarked upon 25 years ago. On May 6th, the firm provided participants with tools to spur an economic success story of their own. Jeffrey Neilson, the managing partner and one of the co-founders of the firm, recounted that in 1985, after a period of some of the darkest days in Michigan’s economic history, the state began to come back with a vengeance. The firm wanted to use its 25th anniversary to help inspire another rebirth for the companies that can most make a difference in our state’s economic future, the small business entrepreneurs. Lipson Neilson hosted its free consulting event for 25 entrepreneurial companies which were selected from submissions to the firm. Attorneys from the Lipson Neilson firm covered a myriad of areas that most start-up and emerging businesses encounter, including company organization, structure, financing, and marketing. The firm provided a full complement of sound advice to help entrepreneurial companies negotiate these difficult times and help them develop a plan for success in the Michigan economy. It was the firm’s goal in holding the free, no obligation event, to give the participating companies with some of the tools they needed to make smart decisions going forward. Neilson stated that “many small businesses and start-ups in 1985 became an integral part of Michigan’s recovery in the 80’s and we would love to assist in the re-birth of new companies in 2010. We thought this was a great way to celebrate our birthday and share our success.” Since its origins 25 years ago Lipson Neilson has undergone significant growth, first adding an office in Las Vegas, Nevada that has now has five full-time attorneys. In addition, the firm recently expanded its main office in Bloomfield Hills and has added satellite offices in Grand Rapids and Grosse Pointe. With a diverse, full-service practice including tax planning, business structure, pre-probate advice for family-owned businesses, guidance and representation in litigation, employment practice law and professional liability defense, Lipson Neilson has become a “go-to” firm for emerging Michigan companies needing one firm to offer a full complement of business services. While the current success of the firm was celebrated with its 25th anniversary, it was the original vision of late co-founder Barry Lipson which was a catalyst for Lipson Neilson’s growth until his death 2003. “I think Barry would be very proud of where we have come in our history and would be extremely supportive of our efforts to celebrate our anniversary by reaching out to Michigan entrepreneurs, because he was one,” said Neilson. “I believe our success has always been uniquely tied to our willingness to be flexible and available to provide sound counsel to start-up or young companies that many firms may not have worked with because of questions surrounding their ability to grow and survive in Michigan.”
Kincaid Named to Bar Committee Lipson Neilson attorney Starr Kincaid has been appointed to the State Bar of Michigan’s Client Protection Fund Committee. The Committee is a program established by the State Bar of Michigan’s Board of Commissioners for the purpose of reimbursing clients who have been victimized by the few attorneys who violate the profession’s ethical standards by misappropriating funds entrusted to them. Lipson Neilson Opens new Grosse Pointe Office Lipson, Neilson, Cole, Seltzer & Garin, P.C. announces it has opened a new legal office in Grosse Pointe, Michigan. The Grosse Pointe Farms location, which will be used immediately by the firm, is strategically located to better serve a number of current Lipson Neilson clients and provide opportunities for future business development in the area. Firm Managing Partner, Jeffrey Neilson, a resident of Grosse Pointe for more than 25 years, will lead the new office, supported by other Lipson Neilson attorneys who live in the area including Mark Phillips. “Having lived in Grosse Pointe for as long as I have, I understand how important it is for area citizens and businesses to support those businesses and individuals who have invested in the community,” said Mr. Neilson. “We see this expansion into Grosse Pointe as strategic and a tremendous opportunity to become more engaged in the area and serve those who are looking for local legal representation.” The new Grosse Pointe office (at 102 Kercheval Ave. in Grosse Pointe Farms) will offer all of the legal services presently available through its principal office in Bloomfield Hills which include Corporate and Real Estate Transactions, Business and Personal Compensation and Tax Planning, Estate Planning and Probate Administration, Family Law and Divorce Litigation, and Business Litigation. “The philosophy that has guided our Firm since 1985 is that our professionals are a team with a shared commitment to providing our clients with high quality legal services. While our office in Grosse Pointe may initially be small in size, it will provide the full resources of the Firm to those in need of legal services in the Grosse Pointe area” said Mr. Neilson. Lipson Neilson Attorneys Honored by Peers Lipson, Neilson, Cole, Seltzer & Garin attorneys Jeffrey Neilson, Steven Cole, Joseph Garin, Howard Lax and Sandra Glazier have been chosen by their peers as exceptional attorneys for 2010 DBusiness and SuperLawyers annual publications. The honors are awarded to attorneys viewed to be at the top of their profession. DBusiness, a bi-monthly Detroit area business publication, named Neilson, Cole, Lax and Glazier in their 2009 list of top lawyers. The list is based on a peer-review survey mailed to lawyers and members of the judiciary. Thousands of votes were cast honoring excellence in all areas of practice. Because the listings cannot be purchased, inclusion in DBusiness’ Top Lawyers is a singular honor. Super Lawyers gives annual awards through a rigorous, multiphase process and peer nominations and evaluations are combined with third party research. Lipson Neilson attorneys Neilson, Cole, and Garin (Nevada) were selected for this honor in 2009.
Lipson Neilson Dance Marathon Sponsorship Helps U of M Raise Money Once Again for Charity Lipson, Neilson, Cole, Seltzer & Garin have once again helped University of Michigan students put their best dancing feet forward for charity. The firm served as the lead sponsor in what has become annual dance marathon event to help fund the pediatric rehabilitation programs of the Mott Children’s Hospital in Ann Arbor and Royal Oak. More Stuart D. Logan has joined Lipson, Neilson, Cole, Seltzer & Garin, P.C. law firm, as a shareholder in their Bloomfield Hills office. Mr. Logan, who begins work with Lipson Neilson after more than 27 years with Dykema Gossett, will help lead the firm’s business transactional and securities practice, while also concentrating on corporate mergers and acquisitions. More
Renegotiation with Creditors Can Effectively Create New Business Cash Flow By David B. Deutsch In this economic environment, generating cash flow is a key to survival. Companies that are finding revenue numbers are relatively flat or lower than a year ago must do everything they can to retain cash so that bills and payroll can be paid. One strategy increasingly being used by businesses is to renegotiate the existing terms of their loans, leases and other expenditures. In fact it is a common practice both locally and nationally. It can be effective and is an acceptable practice if done correctly. More Douglas E. Kelin has joined Lipson, Neilson, Cole, Seltzer & Garin, P.C. law firm, as an attorney in their Bloomfield Hills office. Mr. Kelin will work with the firm’s Real Estate, Corporate Finance and Banking Law practice groups. He has experience as counsel in all forms of businesses, and is experienced in handling issues varying from selecting an appropriate form of business entity, to corporate governance and business succession planning. Mr. Kelin also provides advice on a broad range of taxation issues.
Nordstrom Helps Launch UNLV Mentoring Program
A new article by Howard Lax, who discusses the $700 million government bailout of mortgage securities. Click for full article. With Closely Held Businesses, Breaking up is Hard to Do Lipson Neilson Las Vegas Attorney Honored The Clark County Bar Association (NV) has presented Lipson Neilson attorney Shannon Nordstrom the 2008 Circle of Support Award. The award was presented to Nordstrom in ceremonies held January, 2009, acknowledging her as the outstanding committee member on the Community Service Committee. As Co-Chair of the Community Service Committee, Nordstrom actively participates in the monthly meetings of the Committee, spearheads some of the Committee’s projects, and participates in all of the Committee’s philanthropic activiites in the Las Vegas community.
|
ArticlesContribution: A New Remedy for Entireties Property? The following article was published in a recent edition of the Michigan Real Property Review.
Tkachik v Mandeville, decided by the Michigan Supreme Court in July, 2010, appears to be yet another example of “bad facts making bad law”. In Tkachik, the parties held interests in two separate unrelated properties as tenants by the entireties. The properties statutorily passed to the husband upon the wife’s death, outside of probate (and by operation of law), as the surviving owner of the properties, subject only to the joint obligations secured against such properties. You can read the entire article here
____________________________ An Overview of Important Drafting Considerations Following Enactment of the Michigan Trust Code by Sandra D. Glazier The Michigan Trust Code (referred to in this article as the “MTC”) will become effective April 1, 2010. While the MTC may present many enhanced drafting opportunities, it may also create some unintended consequences for uninformed estate planners
|
Lipson Neilson attorney, Shannon Nordstrom, has co-founded the First-Year Student Mentoring Program at UNLV’s Boyd School of Law.