It is important to thoroughly read through any power of attorney that you have created to name someone to act as your agent or that has named you as someone else’s agent. This document should give some information as to what the named agent should anticipate, such as when the power of attorney becomes activated …
Financial Accounts Handled By A Financial Power of Attorney Read More »
You can appoint an individual to make decisions on your behalf and name this person under your power of attorney. You can make this be a family member or a friend or you might even choose a designated professional, such as an attorney, to receive power of attorney privileges. The power of attorney agent has …
Can a Power of Attorney Agent Sell the Belongings of the Person They are Representing? Read More »
When it comes to your Estate and passing on assets to your loved ones, having no plan is not a good plan at all. It is important to know that you have the ability to designate how to pass your assets on to one of four different places: charity, family, friends, or the government. This …
What Is an Estate Planning Blueprint and How Can You Use One? Read More »
While people of every age and background can benefit from the basic tools of estate planning, certain families and business owners can benefit from more advanced strategies. There are many different planning strategies today that can help to enhance your asset protection and minimize your estate and income taxes. In order to make the most …
Do You Need Advanced Estate Planning Strategies? Read More »
If you do not already have an existing relationship with a Michigan asset protection or estate planning attorney, now is the perfect time to schedule a consultation to discuss potential tax saving strategies. High net worth individuals have unique concerns related to their estate planning, and reducing their tax burden comes at the top of …
In planning for age, incapacity and one’s passing, it is essential that your legal documents such as a Trust, Will and Powers of Attorney be in place so that your wishes are carried out properly and with the appropriate authority. But having these legal documents in place is not where your estate planning process in …
What may be called an “executor” of an estate in other states is known as a personal representative in Michigan. Personal representatives in Michigan are entitled to reasonable fees for their work. The personal representative plays many different important roles in the administration of an estate. The court evaluates a Will’s appointment of a personal …
Will Naming a Personal Representative Diminish My Estate Value? Read More »
If you’re planning to put together your Michigan estate plan, your primary goal is probably to make it easier for your loved ones to move on after you pass away. However, the majority of conflicts and costs actual take place before you’ve passed. Proper planning can vastly improve your chances of avoiding conflict amongst your …
It’s hard to begin the process of planning your Michigan estate if you’re not sure of all the relevant steps involved in administering that estate. While the topic of what will actually happen to your Will and other planning documents might seem most relevant to those who will be around to administer your estate once …
Establishing a Will is a process that requires you to think about what you want to happen to your property when you are no longer around. During your lifetime, you have flexibility to update this Will as needed. Based on changes in your life, you might find it necessary to revisit your Will with your …