In an ideal situation, going through a deceased loved one’s possessions and dividing up precious heirlooms might be a time to reflect and share precious memories. Unfortunately, this is not always the case. There are many valid reasons that family members might...
Month: May 2016
Unequal wealth transfers in estate plans: a recipe for disaster?
Imagine a family with two children. One of those kids has always marched to the beat of his own proverbial drummer. He has traveled the world, lived abroad for many years, can be out of contact for weeks or months on end and has only returned to his childhood home a...
Trusts and guardianships can protect an incapacitated parent
It is an unfortunate fact for residents of Detroit and elsewhere that not everyone is able to live to old age with full mental capacities. Numerous conditions, including dementia, Alzheimer’s disease and stroke, can reduce an elderly person’s mental acuity and ability...
What are the duties of a personal representative in Michigan?
Know Michigan's expectations for personal representatives - and consider getting the right help. If a loved one has named you as the personal representative of their estate, they clearly trusted you on a personal and financial level. However, that doesn't change the...
Prince’s estate in question after not leaving a will
As discussed in previous posts, it may complicate matters significantly if someone dies without leaving behind a will or trust. Therefore, Detroit residents may consider it a wise move to handle their estate planning well in advance. Having a clear and understandable...
What estate planning definitions are helpful to know?
As you probably know, it is important to have a will or trust in order for your loved ones after you pass. Estate planning may help your heirs avoid confusion or conflict later on. However, it is not unusual for Detroit residents to need clarification on some of the...
