» Estate Planning
What Is a Lady Bird Deed / Enhanced Life Estate Deed in Michigan?
August 3rd, 2020
A lady bird deed (or ladybird deed), also called an enhanced life estate deed, is an estate planning tool that avoids probate and accomplishes other estate planning objectives. It is not like a common deed that transfers fee title to real estate, but…
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Estate Planning Is Essential For Everyone — Not Just Wealthy People
Many people think that estate planning is only necessary for people who have a lot of money and assets. That myth could not be farther from the truth. Estate planning is essential for everyone. What Is Estate Planning? Estate planning is commonly und…
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Categories: Estate Planning
Start a Conversation with Your Family About Estate Planning
May 18th, 2020
This may be a good time to start a conversation with your family members about your estate plan. We are all susceptible to a critical change in our health at any time. These uncertain times bring a renewed focus on the need to have a plan in place sh…
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Categories: Estate Planning
Should You Consider a Cottage Trust For Your Family Vacation Home?
April 23rd, 2020
Many Michiganders own a family vacation home or cabin up north or elsewhere that holds a lifetime of memories and is an integral part of the family’s legacy. But what happens to the property when the original owners (usually the parents) pass away?…
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How Estate Planning Addresses Coronavirus (Covid-19) Concerns
April 9th, 2020
The current coronavirus pandemic is a time of uncertainty and uncharted territory. Despite the physical distancing between us, people are coming together and families are reconnecting. We all have a shared concern for our families, friends, businesse…
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Categories: Estate Planning
What Happens If You Die Without a Will or Estate Plan?
February 13th, 2020
If you do not have a Last Will and Testament or an estate plan, your family and loved ones will likely encounter problems when you die — and possibly during your lifetime as well. Some of those problems may not be easily resolved. They can create t…
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Setting Up a Living Trust in Michigan (What You Need to Know)
January 23rd, 2020
Living trusts are a valuable estate planning tool. But a living trust is not appropriate for everyone or every estate plan. If you consider making a living trust part of your estate plan, your first step is to understand how a living trust works and…
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Categories: Estate Planning
Make a New Year’s Resolution to Create Your Estate Plan or Update Your Existing Plan
December 23rd, 2019
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…
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Categories: Estate Planning
Do You Need a Lawyer to Establish a Trust?
November 27th, 2019
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…
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Categories: Estate Planning
What Is the Difference Between a Will and an Estate Plan?
November 15th, 2019
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,…
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Categories: Estate Planning
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