Keating Law Blog

Due to changes in circumstances, it sometimes becomes necessary to remove a family member from a will, trust, or other estate planning document. However, in order to do so, certain legal protocols must be followed. When done incorrectly, an attempt to disinherit a relative can result in a legal challenge. Therefore, if you would like to disinherit a family member in Michigan, please review the information below and contact a

Control over distributions to beneficiaries 

A revocable living trust gives the trust creator (trustor) control over the way in which assets are distributed to beneficiaries. This is particularly useful to parents who have concerns that their children may waste the trust assets they receive.

Effective estate plans have many components. And while most people are familiar with wills and trusts, few understand the benefits of living trusts. Living trusts have many benefits, including flexibility and the avoidance of probate. If you're interested in learning about how a living trust can improve your estate plan, please review the information below and contact an experienced

If you have questions about the estate planning process, you aren't alone! Estate planning is a complicated process that requires the assistance of an experienced Michigan estate planning attorney. At Keating Law, PLC, our experienced Michigan estate planning attorneys are happy to answer any and all questions you may have about the process. Frequently asked estate planning questions include:

• What do I need to put in my will?
  
• Do I need to name a guardian for my children?
  
• Do I need to establish a trust for my children?
  
• Who should I choose as executor of my estate?
  
• Do I need a power of attorney?
  
  

Estate planning is the process of anticipating and arranging for the management of a person's estate during his or her life and after death while minimizing associated taxes. A typical estate includes things like:

• Real estate
  
• Bank accounts
  
• Stocks and bonds
  
• Vehicles
  
• Retirement accounts
  
• Personal property 
  
• Insurance proceeds
• Dividends 

Why you need an estate plan

If you die without an estate plan in Michigan, the state will create one for you based on existing laws. Unfortunately, however, estate plans crafted by the state don’t account for your unique circumstances or wishes. Rather, the state relies on statutory guidelines to determine how your property will be distributed.

Estate planning is the process of arranging for the management and distribution of an individual’s assets following incapacitation or death. For some individuals, a small business is included among the assets to be distributed. Unfortunately, however, some business owners fail to account for their business assets during the estate planning process, leaving interested parties little direction on how to proceed. Therefore, it is important that each business owner who wishes to control the direction of his or her business after death engage in estate planning. Typical estate planning considerations for business owners include: 

1.
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