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Trusts, Wills, Powers of Attorney and Estate Planning

Thursday, March 14, 2019

Estate Planning: Things to Consider for Michigan Business Owners


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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Tuesday, February 5, 2019

Choosing an Estate Executor in Michigan


Estate planning is essential, especially for individuals who are retired or nearing retirement. And to ensure that your wishes are properly carried out, it’s important to choose the right estate executor. Your estate executor, who is an individual specifically appointed to manage your estate in the event that you become deceased or otherwise incapacitated, should be someone you can trust. Below are some tips on choosing an estate executor in Michigan. 

When possible, go with legal or financial experience

Although your executor doesn’t need to be a lawyer or financial professional, it is advisable that you choose someone who has at least some experience in both areas.
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Tuesday, January 15, 2019

Here’s Why You Need an Estate Plan

If you want to provide for your loved ones after your passing, you need an estate plan. Without an estate plan, your assets will be distributed pursuant to state law—leaving your loved ones little say in the matter. Therefore, if you want to avoid state intervention in the asset distribution process, you should contact an experienced estate planning attorney as soon as possible to begin the process. In the meantime, here are a few more reasons why you need an estate plan. 


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Tuesday, December 11, 2018

Things to Consider When Choosing an Estate Planning Attorney


When you are trying to choose an estate planning attorney, there are certain things you should consider before making your final decision. By obtaining certain information from prospective estate planning lawyers, you'll be able to determine who can best serve your needs. Below are some things to consider when choosing an estate planning attorney in Michigan.

 

Specialization

When it comes to estate planning, specialization is important. In other words, you should choose an attorney who focuses heavily on estate planning.
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Tuesday, July 10, 2018

Evil Stepmother, Bad Estate Planning, Or Both?

A Michigan resident recently wrote into MarketWatch’s money-based advice column seeking guidance about what to do when you think your stepmother is stealing money or other assets from your late father’s estate that you believe rightfully belong to you. Sadly, it’s a tricky question with no great answer.

The questioner wondered whether she has a fighting chance to take possession of her late father’s property.


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Tuesday, April 10, 2018

Privacy Preserved

Questions About Harper Lee’s Life Go Unanswered Thanks To Astute Estate Planning

Eight days before her death, Harper Lee, the author of To Kill a Mockingbird, created a new will. Now, two years later, it has been released to the public, but it reveals very little about the author’s last wishes. And that is probably not an accident.

Lee, who was known for her desire to live a private life, made headlines in the year preceding her death by agreeing to publish what was billed as a sequel to her coming-of-age classic. Go Set a Watchman sparked more pre-orders than any book since the last Harry Potter novel, and raised a lot of eyebrows.


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Tuesday, March 6, 2018

Do I Need a New Estate Plan?

Does The New Tax Law Mean I Need A New Estate Plan?

The answer to this question is the stereotypical lawyer answer – it depends. The “Tax Cuts and Jobs Act” that was signed into law by President Trump in late December will significantly impact large estates, but even folks with smaller estates should make an appointment with their estate planning attorney if it has been a few years since your plan was last updated.
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Tuesday, February 6, 2018

What Makes A Will Or Trust A Living One?


What Makes A Will Or Trust A Living One?

“Look! It's moving. It's alive. It's alive...
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Sunday, January 7, 2018

Special Trusts For Special People

If you have a loved one with special needs, you are probably an expert at navigating government bureaucracy. Developing this skill set is basically a necessity if you want to ensure your loved one has the quality of life they deserve. It can be scary to think about what will happen to your loved one after you are no longer there to advocate, cajole, and fill out endless reams of paperwork on his or her behalf.


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Tuesday, December 12, 2017

What Is A Trust?


In basically every tv show and movie involving a death there is a dramatic scene where the family gathers to hear the lawyers read their loved one’s last will and testament. And there’s always some shocking surprise that sets up a bunch of drama for the characters to deal with. In the real world, this just doesn’t happen.

Families rarely gather for a dramatic, Hollywood-style will reading. There are a couple reasons for this.

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Saturday, November 11, 2017

How Often Should I Update My Estate Plan?

We all know we’re supposed to change the oil in the car every 3,000 miles, clean our furnace filters monthly, and defragment our hard drives every week or so. But routine maintenance is one of those things that gets skipped when our schedules get too busy. So, we drive our car until it makes that weird noise, run our furnace until it breaks down, and cross our fingers that our computers are set up to do what they need to do on their own in the background.


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