A comprehensive, properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your loved ones. On a basic level, a trust is a set of instructions where you tell your trusted people what to do and when to Continue reading
Protecting your family is important, especially when you have minor children, and even more so now that we are living through a pandemic. With all of the unknowns of our current situation, you need some certainty. Having an up-to-date estate plan can be the first step toward providing Continue reading
It can be hard to get motivated about your estate planning. It can sound difficult and depressing. However, you also probably want to make sure that you and your loved ones are protected, and that your hard-earned money and property is used properly to take care of you in case of Continue reading
Congratulations! You are now considered a legal adult. Aside from purchasing alcohol, there is now very little you cannot legally do. Even though you may not feel any different, from a legal standpoint, a lot has changed.
When you were a minor (under the age of 18), your parents were Continue reading
You can own real estate in different manners depending upon the number of parties and the unique circumstances involved. Understanding how your real estate is owned, or “titled,” is necessary because this determines the extent of control you have over your real estate, how susceptible Continue reading
Estate planning is not just about what happens to your stuff when you die. It is about coordinating all aspects of your life so (1) you can be taken care of during times when you are unable to care for yourself, and (2) your money, assets, and property are distributed to the individuals Continue reading
We all accumulate a wealth of knowledge, experiences, and values throughout the course of our life, regardless of the amount of financial wealth that we build. You have a great deal to share with your loved ones, no matter the size of the monetary gift that you may leave. A legacy Continue reading
Although it is rare for anyone to look forward to the passing of a loved one, many people cannot help wondering about a future inheritance. Often when a person dies and leaves money or property to heirs or beneficiaries, the first thing the heirs or beneficiaries want to know is the Continue reading
Thinking about what will happen to your body when you pass away is probably not what you would like to do with your spare time. However, if you want to donate your organs when you die, you must think about precisely what you want and communicate those wishes to the people who will Continue reading
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. Having to deal with financial stress at such at a time can heighten the difficulty. Without proper planning, your significant other could face frozen Continue reading
When a family member or other loved one dies, grief and shock can sometimes be overwhelming. The last thing most people want to think about is making phone calls or funeral arrangements. Some things do not need to be done immediately, but there are some steps that should be taken Continue reading
A guardian is an individual who cares for someone who needs special protection, perhaps because of age of minority or incapacity. Parents can nominate a guardian in their will, but in Michigan, and most other states, a court must confirm and officially appoint the guardian. The need Continue reading
It is common for many folks to get an an annual physical. We see the value in detecting and treating problems before an illness or health condition becomes serious. It is also important for your estate plan to get a regular check up. Changes in your life circumstances and changes Continue reading
For many of our clients, a revocable living trust is a valuable tool to ensure that their finances are well managed during periods of incapacity and that their loved ones are financially secure upon their passing. However, signing the trust agreement doesn’t end the estate planning Continue reading
For many people, a revocable living trust is used as the foundation of their estate plan, rather than a will or joint ownership. When properly prepared, a living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) Continue reading
Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because wills are filed at the courthouse, probated estates become a matter of public record. That means your nosy neighbor Nellie Continue reading
After a loved one dies, their money and assets must be distributed to the right people, either according to their will or state law (found in the default distribution scheme in its “intestacy” statute). While most people want the settlement process to be done as soon as possible, Continue reading
The bad news: When a deceased person’s estate (all of their money and assets) has to go through probate (the court-supervised process of distributing a deceased person’s money and assets), it can be subject to a variety of costs stemming from attorneys, executors, appraisers, accountants, Continue reading