Kara L. Hoorn

Estate Planning

• Assisted in preparing plans varying in complexity from limited assets to multi-million-dollar estates.
• Assisted in drafting prenuptial agreement for retired couple desiring to ensure their assets would remain separate and be distributed to their own children, not their new spouse, upon death.
• Assisted in drafting prenuptial agreement for young couple with disproportionate wealth, desiring to ensure family business interests are protected along with separate investment accounts in the event of divorce.
• Drafted estate plan for couple where primary objective is to make sure the necessary documents are in place so their minor children will be taken care of in the event of the death of both parents.
• Drafted estate plan for an unmarried individual with no children who did not want to burden her siblings with the administration of her financial matters in the event she became incapacitated nor with the administration of her estate.

Trustee Services and Trust Administration

• Represented the trustee and financial power of attorney in several situations where the Settlor had been deemed mentally incapacitated. Assisted the trustee and agent in fact to ensure compliance with Michigan and federal law, paid special attention to Settlor’s intentions prior to incapacitation, balanced the needs of Settlor with those of the contingent beneficiaries, and assisted in navigating communications with special consideration given to the nuances and delicate nature of family relationships.
• Numerous representations of trustees in the administration of trusts following death of the Settlor with varying degrees of distributions, from all assets being outright distributed to delayed distribution or allocation of assets to marital trusts or trusts created to benefit lifetime beneficiaries.
• Represented beneficiary where trustee was not acting in compliance with law as it pertained to communications to trust beneficiaries. Ensured client received thorough and complete accountings, expenses paid by the trust were properly documented and the beneficiary received all assets entitled to him upon reaching the stated age of distribution.

Estate Settlement

• Represented personal representative through the probate process of an intestate and insolvent estate.
• Represented personal representative through the probate process of a near-million-dollar estate.

Guardianship and Conservatorship

• Represented client in court proceedings objecting that they lacked the capacity to manage their medical and financial decisions. Successfully negotiated a return of the client’s assets, established safeguards where the client retained the ability to manage some assets independently and their desired individual was appointed to make medical decisions.
• Represented client on navigating the court process to become successor guardian for developmentally disabled individual.

Corporate

• Represented private equity firm in its acquisition through recapitalization of a processor, recycler and manufacturer of wood products.
• Represented medical device company in the diabetes field in a $3.5 million private placement and Series C Preferred Stock offering.
• Structured a complex corporate reorganization of a medical device company from a corporation with multiple series of preferred stock into a limited liability company and represented the company in subsequent preferred unit offerings through which lead investors acquired a super majority interest in the company.
• Represented medical device company in its sale of substantially all its assets to a worldwide company engaged in the development, manufacture and distribution of proprietary disposable medical devices.
• Represented stent development company in a $21 million Series C Preferred Stock offering.
• Represented automotive supplier in its stock acquisition of a leader in the interior automotive trim and product identification industries.
• Represented stent development company in the sale and issuance of $10 million of preferred stock.

• Represented private equity firm in its acquisition through recapitalization of a processor, recycler and manufacturer of wood products.
• Represented medical device company in the diabetes field in a $3.5 million private placement and Series C Preferred Stock offering.
• Structured a complex corporate reorganization of a medical device company from a corporation with multiple series of preferred stock into a limited liability company, and represented the company in subsequent preferred unit offerings through which lead investors acquired a super majority interest in the company.
• Represented medical device company in its sale of substantially all its assets to a worldwide company engaged in the development, manufacture and distribution of proprietary disposable medical devices.
• Represented stent development company in a $21 million Series C Preferred Stock offering.
• Represented automotive supplier in its stock acquisition of a leader in the interior automotive trim and product identification industries.
• Represented stent development company in the sale and issuance of $10 million of preferred stock.

"Estate Planning and Retirement Planning," MaxWealth Management Presentation, Feb. 29, 2024