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	<title>Suttons Bay Law &#187; Cottage Law</title>
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	<link>http://www.suttonsbaylaw.com</link>
	<description>Suttons Bay Attorney Dan A. Penning - The Suttons Bay Law Offices of The Penning Group Advisors &#38; Attorneys - The Home of Cottage Law - 231.271.4500</description>
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		<title>Treat Your LLC Like a Business to Protect Your Assets</title>
		<link>http://www.suttonsbaylaw.com/2012/03/22/treat-your-llc-like-a-business-to-protect-your-assets/</link>
		<comments>http://www.suttonsbaylaw.com/2012/03/22/treat-your-llc-like-a-business-to-protect-your-assets/#comments</comments>
		<pubDate>Thu, 22 Mar 2012 17:42:30 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[cottage succession planning]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[Suttons Bay Depot]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[business entity]]></category>
		<category><![CDATA[cottage succession plan]]></category>
		<category><![CDATA[family cottage]]></category>
		<category><![CDATA[family-owned assets]]></category>
		<category><![CDATA[L.L.C.]]></category>
		<category><![CDATA[limited liability company]]></category>
		<category><![CDATA[llc strategy]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/?p=756</guid>
		<description><![CDATA[Many business owners form several types of business entities to hold their assets and operate different aspects of their businesses.  A common strategy is to form limited liability companies to hold real estate.  The operating entity, such as a manufacturing entity, pays monthly rent to the real estate LLC and this can work to keep liability of the operating entity separate from the real estate LLC. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Gifting to Avoid Estate and Gift Taxes</title>
		<link>http://www.suttonsbaylaw.com/2011/10/25/gifting-to-avoid-estate-and-gift-taxes/</link>
		<comments>http://www.suttonsbaylaw.com/2011/10/25/gifting-to-avoid-estate-and-gift-taxes/#comments</comments>
		<pubDate>Tue, 25 Oct 2011 12:00:05 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Business Succession]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[1932 gift tax]]></category>
		<category><![CDATA[annual exclusion]]></category>
		<category><![CDATA[estate taxes]]></category>
		<category><![CDATA[gift assets]]></category>
		<category><![CDATA[gift tax]]></category>
		<category><![CDATA[gift tax exceptions]]></category>
		<category><![CDATA[gifting]]></category>
		<category><![CDATA[overall gift tax exemption]]></category>
		<category><![CDATA[tax-free transfers]]></category>
		<category><![CDATA[tax-free transfers of assets]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/?p=325</guid>
		<description><![CDATA[Going, Going, Gone! U.S. taxpayers are experiencing a &#8220;perfect storm&#8221; of opportunity to make tax-free transfers (gifts) of assets such as family businesses, real estate and other wealth from one generation to the next. The gift tax was first enacted in 1932 by the federal government. Over the coming months, we all have what may [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2011/10/25/gifting-to-avoid-estate-and-gift-taxes/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The Value of Summer Memories at The Family Cottage</title>
		<link>http://www.suttonsbaylaw.com/2011/06/21/the-value-of-summer-memories-at-the-family-cottage/</link>
		<comments>http://www.suttonsbaylaw.com/2011/06/21/the-value-of-summer-memories-at-the-family-cottage/#comments</comments>
		<pubDate>Tue, 21 Jun 2011 05:09:37 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[cottage succession planning]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[avoid uncapping of property]]></category>
		<category><![CDATA[family cottage sharing]]></category>
		<category><![CDATA[family cottages]]></category>
		<category><![CDATA[klooster v charlevoix]]></category>
		<category><![CDATA[protect the family cottage]]></category>
		<category><![CDATA[right to partition]]></category>
		<category><![CDATA[summer vacations]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2011/06/21/the-value-of-summer-memories-at-the-family-cottage/</guid>
		<description><![CDATA[It doesn&#8217;t matter what time of day you arrive, everything always looks the same. Granted, the trees are taller and wildflowers seem to be growing everywhere. But your family cottage is the same to you today as it&#8217;s always been. Cubby holes filled with trinkets and treasures While waving hello to neighboring friends you realize [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2011/06/21/the-value-of-summer-memories-at-the-family-cottage/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Real Estate Taxes and Joint Ownership of Michigan Real Property</title>
		<link>http://www.suttonsbaylaw.com/2011/05/09/real-estate-taxes-and-joint-ownership-of-michigan-real-property/</link>
		<comments>http://www.suttonsbaylaw.com/2011/05/09/real-estate-taxes-and-joint-ownership-of-michigan-real-property/#comments</comments>
		<pubDate>Tue, 10 May 2011 02:35:22 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[actual property value]]></category>
		<category><![CDATA[joint ownership]]></category>
		<category><![CDATA[joint ownership with rights of survivorship]]></category>
		<category><![CDATA[joint tenancies]]></category>
		<category><![CDATA[klooster v city of charlevoix]]></category>
		<category><![CDATA[michigan property tax system]]></category>
		<category><![CDATA[michigan supreme court decision]]></category>
		<category><![CDATA[original owner]]></category>
		<category><![CDATA[property taxes]]></category>
		<category><![CDATA[state equalized valuation]]></category>
		<category><![CDATA[taxable value]]></category>
		<category><![CDATA[transfer of ownership]]></category>
		<category><![CDATA[uncapping occurrence]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2011/05/09/real-estate-taxes-and-joint-ownership-of-michigan-real-property/</guid>
		<description><![CDATA[The Practical Effect of Michigan Supreme Court&#8217;s Decision in the case of Klooster v City of Charlevoix The Supreme Court&#8217;s decision in the Klooster case provides that certain types of joint ownership of real estate in Michigan can prevent property taxes increasing at the time of a joint owner&#8217;s death. While the decision is generally [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Penning to Speak at ICLE 51st Annual Probate and Estate Planning Conference</title>
		<link>http://www.suttonsbaylaw.com/2011/05/09/penning-to-speak-at-icle-51st-annual-probate-and-estate-planning-conference/</link>
		<comments>http://www.suttonsbaylaw.com/2011/05/09/penning-to-speak-at-icle-51st-annual-probate-and-estate-planning-conference/#comments</comments>
		<pubDate>Mon, 09 May 2011 21:38:22 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Business Succession]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[cottage succession planning]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[51st Annual Probate and Estate Planning Conference]]></category>
		<category><![CDATA[icle]]></category>
		<category><![CDATA[michigan attorneys]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2011/05/09/penning-to-speak-at-icle-51st-annual-probate-and-estate-planning-conference/</guid>
		<description><![CDATA[Dan A. Penning has been invited as a featured speaker to present on the topic of estate and gift tax issues concerning cottage succession planning at the ICLE 51st Annual Probate &#38; Estate Planning Conference for Michigan attorneys. Penning will join two other speakers addressing cottage law succession planning issues during the three-day conference featuring [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2011/05/09/penning-to-speak-at-icle-51st-annual-probate-and-estate-planning-conference/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Proposed Tax Would Actually Hit Family Businesses Hard</title>
		<link>http://www.suttonsbaylaw.com/2010/07/05/proposed-tax-would-actually-hit-family-businesses-hard/</link>
		<comments>http://www.suttonsbaylaw.com/2010/07/05/proposed-tax-would-actually-hit-family-businesses-hard/#comments</comments>
		<pubDate>Mon, 05 Jul 2010 20:33:12 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Agribusiness]]></category>
		<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Business Management/Law]]></category>
		<category><![CDATA[Business Succession]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[captial gains tax rate on certain investors profits]]></category>
		<category><![CDATA[carried interest tax]]></category>
		<category><![CDATA[family partnership]]></category>
		<category><![CDATA[h.r. 4213]]></category>
		<category><![CDATA[investment managers]]></category>
		<category><![CDATA[liability protection]]></category>
		<category><![CDATA[partnerships invested in particular assets]]></category>
		<category><![CDATA[proposed legislation]]></category>
		<category><![CDATA[wall street houses]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2010/07/05/proposed-tax-would-actually-hit-family-businesses-hard/</guid>
		<description><![CDATA[Proposed &#8220;Carried Interest&#8221; Tax Purports to Soak Wall Street But Hits Family Businesses For the time being, the Senate has again abandoned efforts to impose a &#8220;carried interest tax&#8221; on venture capitalists, investors, and managers of family businesses. The tax would have increased the 15% capital gains tax rate on certain investors&#8217; profits to the [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2010/07/05/proposed-tax-would-actually-hit-family-businesses-hard/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Penning Named FIVE STAR Wealth Manager by HOUR Detroit Magazine</title>
		<link>http://www.suttonsbaylaw.com/2010/06/15/penning-named-five-star-wealth-manager-by-hour-detroit-magazine/</link>
		<comments>http://www.suttonsbaylaw.com/2010/06/15/penning-named-five-star-wealth-manager-by-hour-detroit-magazine/#comments</comments>
		<pubDate>Tue, 15 Jun 2010 16:03:25 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Business Management/Law]]></category>
		<category><![CDATA[Business Succession]]></category>
		<category><![CDATA[Commercial Real Estate]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Estate Planning]]></category>
		<category><![CDATA[Personal Management]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[consumer responses in the Detroit area]]></category>
		<category><![CDATA[Crescendo Business Services]]></category>
		<category><![CDATA[HOUR Detroit Magazine 2010 Five Star Wealth Managers Aw]]></category>
		<category><![CDATA[June 2010 issue]]></category>
		<category><![CDATA[Penning was named as 1 of the 50 attorneys]]></category>
		<category><![CDATA[wealth managers]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2010/06/15/penning-named-five-star-wealth-manager-by-hour-detroit-magazine/</guid>
		<description><![CDATA[We are pleased to announce that Dan A. Penning has been named a FIVE STAR Wealth Manager by HOUR Detroit magazine in its June, 2010 issue. As detailed below, more than 11,000 wealth managers practice accounting, business planning, estate planning, financial planning, insurance and investments in the metropolitan Detroit area. Out of the 11,000 wealth [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2010/06/15/penning-named-five-star-wealth-manager-by-hour-detroit-magazine/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Protection While Navigating The Great Lakes and Michigan Inland Lakes</title>
		<link>http://www.suttonsbaylaw.com/2010/04/13/protection-while-navigating-the-great-lakes-and-michigan-inland-lakes/</link>
		<comments>http://www.suttonsbaylaw.com/2010/04/13/protection-while-navigating-the-great-lakes-and-michigan-inland-lakes/#comments</comments>
		<pubDate>Tue, 13 Apr 2010 15:04:33 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[Personal Management]]></category>
		<category><![CDATA[actual cash value policies]]></category>
		<category><![CDATA[boat insurance]]></category>
		<category><![CDATA[boat insurance policies]]></category>
		<category><![CDATA[boats]]></category>
		<category><![CDATA[boats at cottage]]></category>
		<category><![CDATA[cottage boats]]></category>
		<category><![CDATA[great lakes]]></category>
		<category><![CDATA[liability and bodily injury coverage]]></category>
		<category><![CDATA[liability insurance coverage]]></category>
		<category><![CDATA[maritime]]></category>
		<category><![CDATA[maritime insurance policy]]></category>
		<category><![CDATA[michigan great lakes]]></category>
		<category><![CDATA[michigan inland lakes]]></category>
		<category><![CDATA[taking a boat to canada]]></category>
		<category><![CDATA[towing a boat]]></category>
		<category><![CDATA[valuation clause]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2010/04/13/protection-while-navigating-the-great-lakes-and-michigan-inland-lakes/</guid>
		<description><![CDATA[Launching a boat in Michigan waters during the month of April is not very common. Boat insurance policies, however, generally begin to provide coverage on April 15. If you&#8217;ve not given much thought to your boat insurance policy, this spring might be a good time to review your policy and determine if you need more [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2010/04/13/protection-while-navigating-the-great-lakes-and-michigan-inland-lakes/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What Protects Waterfront Landowners from Personal Injury Lawsuits</title>
		<link>http://www.suttonsbaylaw.com/2010/04/05/what-protects-waterfront-landowners-from-personal-injury-lawsuits/</link>
		<comments>http://www.suttonsbaylaw.com/2010/04/05/what-protects-waterfront-landowners-from-personal-injury-lawsuits/#comments</comments>
		<pubDate>Tue, 06 Apr 2010 03:15:37 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[324.73301(1)]]></category>
		<category><![CDATA[atv]]></category>
		<category><![CDATA[cottage succession planning]]></category>
		<category><![CDATA[landowners gross negligence]]></category>
		<category><![CDATA[michigan recreational land use act]]></category>
		<category><![CDATA[neal v wilkes]]></category>
		<category><![CDATA[outdoor recreational activities]]></category>
		<category><![CDATA[personal injury lawsuits]]></category>
		<category><![CDATA[protections afforded property owners]]></category>
		<category><![CDATA[rua]]></category>
		<category><![CDATA[slipping on logs]]></category>
		<category><![CDATA[undeveloped tracts of land]]></category>
		<category><![CDATA[unfortunate accidents]]></category>
		<category><![CDATA[wanton misconduct]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2010/04/05/what-protects-waterfront-landowners-from-personal-injury-lawsuits/</guid>
		<description><![CDATA[As weather in Michigan becomes warmer signaling the approach of summer, waterfront property owners begin thinking about boats, docks, jet skis, etc. Every summer, unfortunate accidents occur that are related to water and recreational activities: swimmers make a wrong judgment regarding the depth of the water and dive into shallow water resulting in severe neck [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Blog Added to Our New Cottage Law &amp; Cottage Succession Planning Website!</title>
		<link>http://www.suttonsbaylaw.com/2010/02/03/blog-added-to-our-new-cottage-law-cottage-succession-planning-website/</link>
		<comments>http://www.suttonsbaylaw.com/2010/02/03/blog-added-to-our-new-cottage-law-cottage-succession-planning-website/#comments</comments>
		<pubDate>Wed, 03 Feb 2010 17:38:44 +0000</pubDate>
		<dc:creator>Dan Penning</dc:creator>
				<category><![CDATA[Cottage Law]]></category>
		<category><![CDATA[Know it Now]]></category>
		<category><![CDATA[Suttons Bay Depot]]></category>
		<category><![CDATA[cottage law blog]]></category>
		<category><![CDATA[cottage limited liability company]]></category>
		<category><![CDATA[cottage memories]]></category>
		<category><![CDATA[cottage operating agreement]]></category>
		<category><![CDATA[cottage rules]]></category>
		<category><![CDATA[cottage succession planning]]></category>
		<category><![CDATA[sharing and using a family cottage]]></category>

		<guid isPermaLink="false">http://www.suttonsbaylaw.com/2010/02/03/blog-added-to-our-new-cottage-law-cottage-succession-planning-website/</guid>
		<description><![CDATA[Blog Added to Our New Cottage Law &#038; Cottage Succession Planning Website! We&#8217;ve added a blog to our new cottage law website to post additional information about cottage succession planning, and for cottage family members to post their favorite memories of time spent at the family cottage. Please stop by and share your own favorite [...]]]></description>
		<wfw:commentRss>http://www.suttonsbaylaw.com/2010/02/03/blog-added-to-our-new-cottage-law-cottage-succession-planning-website/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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