Page 26 - Senior Housing Directory 2020 South Central Michigan
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For most people the real estate they own represents a substantial portion of their total assets. This real estate not only has substantial monetary value, it generally also has substantial emotional value as well. Think of your home
or vacation property, both holding many family memories.
For these reasons, as well as others, it makes sense to utilize the services of an expe- rienced real estate attorney when considering any transaction involving this important asset. Whether the transaction involves a sale of the property, lease of the property, conveyance
of the property to your children, providing for the transfer of ownership upon your death or disability, or contribution of the property to an existing or new living trust, you should consult an experienced advisor. Each of these transac- tions involves potential income tax and property tax considerations. An experienced real estate attorney will be aware of and can explain your options to minimize or eliminate adverse tax consequences.
Some of the fundamental aspects of real es- tate law are hundreds of years old. All attorneys had exposure to these fundamental aspects in their law school real property class. Many im- portant aspects of real estate law, however, are more recent creations of statutory law. Matters
such as your ability to divide your property, the basis for taxing your property, your spouse’s rights in your property, and ownership of proper- ty by same sex couples, are just some examples where the legislature or courts have made recent changes to the law that could substantially impact your interests.
Even long established real estate principals have nuanced affects on the owner’s rights and obligations. An often-encountered example
is the difference between parties holding title
to real estate as tenants in common, as joint tenants, or as joint tenants with full rights of survivorship. Each of these tenancies is different. Each of these tenancies creates substantially different interests. Two of these ownership forms (tenants in common and joint tenants) create a form of common ownership in which the parties, if they cannot agree on how to manage or use
the property, can escape by separating their common ownership. One of these ownership forms (joint tenants with full rights of survivor- ship), creates a form of ownership in which only an agreement between the owners or death offers an escape.
No attorney is an expert in all areas of the law. For this reason, most attorneys concen- trate their practice in one or more areas of the law, leaving the other areas of the law to other attorneys. You probably do not want an attorney specializing in personal injury law to represent you in a criminal proceeding. You probably do not want an attorney specializing in defending traffic infractions to prepare your Will or Trust. And you should not want an attorney who does not handle real estate matters as a substantial portion of the attorney’s practice giving you ad- vice on how to handle the disposition of one of your most important assets: your real property.
All attorneys cannot be all things to all clients. Find an attorney who possesses the knowledge and experience to handle the matter with which you need assistance, whether that matter is a traffic infraction, a personal injury claim, or a real estate matter. There is no substi- tute for experience.
Provided by James E. Reed, Vandervoort, Christ & Fisher, P.C.
  Elderly Law | Wills, Trusts | Real Estate | Bankruptcy Guardianship & Conservatorship | Power of Attorney Family Law | Probate & Trust Administration
How Do You Know Who To Choose? Should you select us?
Maybe. We’ve served many people and businesses since our inception in 1943. Our reputation has helped us to become one of the oldest firms in the area. We would like to serve you if we can. YOUR JUDGMENT OF US IS OUR REPUTATION!
 Battle Creek Office
70 Michigan Avenue West Suite 450
(269) 965-7000
Coldwater Office
28 West Chicago Street Suite 2B
(517) 278-0500
Battle Creek Area
Need To Downsize?
We can help you downsize for your next move. You can bring all your unwanted items to the ReStore or give us a call to schedule a pick-up.
545 North Ave. • Battle Creek • MI (269) 441-1038
Visit for information.
                         26 SENIOR HOUSING DIRECTORY | 2020

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