"While the four corners of the lease may not provide an out for not paying rent, experts say tenants may be able to make the argument that they don't need to pay rent if a co-tenancy portion of the lease is not fulfilled. Co-tenancy provisions are designed to help a tenant have some sort of a guarantee of the amount of foot traffic going by the store by requiring other stores to remain open. Mall owners routinely juggle hundreds of such provisions, but the forced closure of many malls and stores may trigger co-tenancy agreements, and could give tenants an argument as to why they are not required to pay rent. "If every other store [in a mall] is shut down, that provides a defense," Weiner said."
Read more at Law360
The Michigan Senate voted Wednesday to codify court-recommended changes in the state’s Sex Offender Registration Act. State lawmakers approved altering registration protocols for sex offenders.
Read more at mLive
The Michigan Senate on Thursday approved criminal justice reform bills that would end automatic driver's license suspensions for unpaid fines and fees not related to dangerous driving.
Read more at The Detroit Free Press
An article from October 2020 provides good information for estate planning purposes:
"...the official estate and gift tax limits for 2020: The estate and gift tax exemption is $11.58 million per individual, up from $11.4 million in 2019. That means an individual can leave $11.58 million to heirs and pay no federal estate or gift tax, while a married couple will be able to shield $23.16 million.
The annual gift exclusion amount remains the same at $15,000.
Warning: The $23.16 million number per couple isn’t automatic. An unlimited marital deduction allows you to leave all or part of your assets to your surviving spouse free of federal estate tax. But to use your late spouse’s unused exemption—a move called “portability” — you must elect it on the estate tax return of the first spouse to die, even when no tax is due. The problem is if you don’t know what portability is and how to elect it, you could be hit with a surprise federal estate tax bill.
While Republican death tax foes hope to make the doubled exemption permanent, Democratic presidential hopefuls say they’ll bring it back to its 2009 level of $3.5 million, with a graduated tax rate up to 77%, compared to today’s flat 40% rate.
If you are interested in exploring your estate planning options, please feel free to contact me: 616-257-3300.
