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Estate Planning Archives

The powers of attorney pertinent to your estate plan

True to its nature, a crisis often occurs when you least expect it. For example, your mom calls you in the wee hours to say that your father has had a stroke and is in the hospital. This seems unbelievable: Your folks came over for dinner last night, and your dad looked and acted just fine.

A holographic will could be easier to challenge

In Michigan, a person who is concerned about who receives certain assets after his or her death does not have to type out or download a document and find a couple of people to witness its signing. Instead, a pen and piece of paper are all that are needed to ensure that his or her wishes are honored.

Are your online accounts covered in your will?

Whether you post pictures and updates about your life constantly from your phone or you have important business information backed up in your email account, chances are, your way of life in Michigan has a digital side that is important to you. It could be important to other people, too, and if you die without a plan in place, they could be left without the keys to your online information.

What is a ladybird deed?

If you are worried about how debt, Medicaid, probate and other factors will affect your estate after you die, you may want to consider a ladybird deed. According to the Michigan Bar Journal, this document transfers real estate to your beneficiary upon your death, but it allows you to retain the use of the property for as long as you live. Not only that, you can continue to make all the decisions regarding the property without the input of the grantee, including selling it or choosing a new beneficiary.

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).

Have you confided pertinent estate planning information?

When you sit down with your attorney to flesh out your estate plan, you may be under the impression that the usual information about financial assets, property, bequests and the like will be sufficient. You will be talking about things like wills, trusts and patient advocate designations, and you think you have everything covered.

Writing your will

Whether you tend to be the type who is kept awake at night by worries, or you just recently had a major change of circumstances, right now might be the moment when you feel the need to jot down your last will and testament. If you die without completing this document, the probate process could become particularly difficult for those you leave behind. The legal team at the Bingham Legal Group PC has provided assistance to many people who want to make sure their wishes are honored after death.

Providing for your heirs through your business

You may have put some thought into what you want to include in your Michigan will, but if you own a business, there may be factors that you are not sure how to handle. For example, determining whether your child should run your company after you are gone may be difficult on a business level, but it could also be an emotional decision. At the Bingham Legal Group PC, our team often provides entrepreneurs with answers to this type of succession plan question.

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