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Estate Planning

Make a New Year’s Resolution to Create Your Estate Plan or Update Your Existing Plan

The tradition of making New Year’s resolutions goes back more than 4,000 years. Today, studies indicate that about 40% to 50% of us make promises to improve as the calendar turns over to January 1. For 2020, your resolutions should include creating… Read More
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Categories: Estate Planning
Revocable trust

Do You Need a Lawyer to Establish a Trust?

Wills and trusts are the core documents in an estate plan. Most people have a general understanding of the nature of a Will. Trusts are more complicated than Wills for a number of reasons and often are somewhat confusing to individuals creating an es… Read More
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Categories: Estate Planning
last will and testament

What Is the Difference Between a Will and an Estate Plan?

Individuals often think that if they make a Will, it means they have an estate plan — but that actually is a common misconception. While your Will is part of an estate plan, it is only part of a complete estate plan. In the discussion that follows,… Read More
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Categories: Estate Planning
Estate Plan Documents

What Is the Best Place to Store Estate Planning Documents? (and Why Safeguarding Your Estate Plan Is Essential)

Your estate plan protects your family, yourself, and your assets for the future. It represents an investment of significant time and energy. Now that you have it in hand, what should you do with it? Is there a best place to store estate planning docu… Read More
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Categories: Estate Planning
Checklist

Avoid Making Estate Planning Mistakes

The first mistake to avoid is not having an estate plan that includes a Will or a Trust along with a Durable Power of Attorney for Financial Matters and a Patient Advocate Designation. If you die without a will (die intestate), the State of Michigan… Read More
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Categories: Estate Planning

PROTECT YOURSELF AND YOUR FAMILY WITH AN ESTATE PLAN

How do you protect yourself and your family with an estate plan? Create a Will or Trust for transfer and management of your assets after death. If you don’t have a Will or Trust, the State of Michigan will determine how your assets will be distribu… Read More
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Categories: Estate Planning

Do you have an Adult Life Plan (an Estate Plan)?

An estate plan is a person’s “adult life plan”. Adult life begins when a person can vote, enter into contracts and make health care decisions for him or herself. Consequently, everyone needs to plan when they become an adult. Estate planning is… Read More
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Categories: Estate Planning

Prince’s Death Shows the Importance of Estate Planning

Learning from Prince’s Death: Do your Estate Planning now. Prince did not have an Estate Plan – Here’s Why You should have one. The singer and artist Prince recently died without a will, trust or any other kind of an estate plan to pass… Read More
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Categories: Estate Planning

New Property Tax “Uncapping” Exemption Will Help Keep Your Home, Vacation Property or Cottage in the Family

Michigan has a new law, Public Act 310 of 2014, which has expanded the transfer of residential property to and from certain family members, trusts and probate estates, without causing the taxable value of the property to be “uncapped”. This is gr… Read More
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