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June 2017 Archives

Why estate planning is so important after divorce or remarriage

A Michigan estate plan is not something you prepare once and then put away. Divorce and remarriage, in particular, are events that should prompt you to make some changes. The team at Bingham Legal Group PC understands how these factors may affect your loved ones if you die before changing your will, and we often advise clients on the best way to address their unique family structure in their estate plans.

Can ADR resolve both business and estate planning disputes?

When it appears that you are on your way to court over a business disagreement that has spiraled out of control, or you anticipate disputes over your final wishes, you may want to consider the concept of alternative dispute resolution (ADR).

What parents need to know about spendthrift trusts

When planning for the future, a person in Detroit should consider how his or her beneficiaries may handle their inheritance. For many people, the goal is not merely to distribute assets, but to allocate them as provision for their children’s future. Not everyone understands how to be responsible with money, though, particularly when there is a lot of it. NerdWallet explains that in these cases, a parent can choose someone else to manage the child’s inheritance for him or her through a spendthrift trust.

Why probate may be preferable to joint accounts and ownership

Many people in Michigan may assume that probate is something to be avoided at all costs. By adding another person’s name to a property title or a bank account, they may be able to skip over that process. However, as Bankrate.com points out, there are dangers to sharing ownership of assets, particularly for people who are not spouses, even though the rights of survivorship can negate the need for a will or probate.

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Bingham Legal Group PC
30100 Telegraph Road, Suite 360
Bingham Farms, MI 48025

Fax: 248-642-3207
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Phone: 248 952 8783
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