Trust documents created by a person enable another designated party, known as the trustee, to administer the terms of the Trust. Those trustee responsibilities begin either right away or upon the incapacity or death of the person who created the Trust. However, depending on the specific terms of the trust, if beneficiaries of the Trust …
Although each person’s individual estate might look different, there are several common elements of basic Michigan estate planning that apply to pretty much everyone. In general, the process of estate planning in Michigan refers to the arranging and anticipation of management of a person’s assets and healthcare during their life, through potential incapacity or incompetency, …
Are you concerned about protecting your future? Sitting down with a Michigan estate planning attorney can be one of the most important things you and your spouse do when it comes protecting your assets and planning for the future while you’re still alive as well as making clear what happens to your belongings after you …
What Do I Do When One Spouse Becomes Incapacitated? Read More »
Whether you are a new a parent or a parent of older children, your estate planning should undoubtedly reflect the role that you play in your children’s life. Failing to have an estate plan that incorporates your children and your desires for their future can expose them to unnecessary challenges. Here are three common questions …
Three Estate Planning Questions Every Michigan Parent Should Ask Read More »
Most people approach estate planning with a general idea of wanting to ensure that their loved ones receive assets in a timely fashion. This can mean putting together a basic document such as a will or partnering with a Michigan estate planning attorney to create a trust. However, it is also important to consider the …
What Are the Most Common Grounds for Michigan Probate Litigation Claims? Read More »
A new study found that the most commonly-Googled term in 2018 for Michigan residents was “income tax.” But while the Internet can help provide you with some information about taxes and financial planning, it is always smart to follow up on your research by meeting, in person, with professional advisers. This is especially true if …
Michigan Residents Turn to Google For Answers to Financial Questions Read More »
A Living Trust in Michigan must meet various statutory rules in order to be considered effective and viable. If the rules are met, a trust can be an extremely powerful estate planning tool that gives you significant control over your assets while providing privacy and security. A Living Trust is a trust created by you …
What Assets Need to Be Included in a Michigan Living Trust? Read More »
When someone passes away, their family members often must act quickly to find and gather important documents that need to be presented to the court as soon as possible. These documents typically detail the final wishes of the person who has passed away. Thinking ahead about these matters for your own estate planning purposes can …
The estate planning process should not be separated from retirement planning or long term care planning. These three issues often impact us all together, and neglecting any one of them could cause problems in the future. Long term care refers to many different services that are designed to help someone with the activities of daily …
Why Does the Cost of Michigan Nursing Home Care Matter for Your Planning? Read More »
An Executor is the person named in a Will or appointed by the Probate Court to control or manage a person’s property after their death. In Michigan, an Executor is called a Personal Representative. There are various steps that need to be taken by a Personal Representative, and they need to be taken relatively quickly, …