In a recent post on this blog, we discussed which of your family members are likely to receive your retirement funds after your death. To recap, it would usually be your spouse or adult children who receive your benefits from a 401(k) or Individual Retirement Account....
Month: November 2016
Digital property: An emerging issue in estate planning
Compared to other areas of law, estate and probate planning is pretty slow to change. However, the ubiquity of technology could open a new set of issues in estate planning. We have wishes for our tangible property including money, cars and houses - but what about...
Understanding what happens to retirement funds after death
After a family member passes on, his or her property and assets are given to the spouse, children and other beneficiaries according to a will or trust, or otherwise divided by the court. Retirement funds are treated in much the same way in Michigan and other states....
When might it be worth it to challenge a will?
When a will has been written and witnessed, there is often little that Detroit residents can do if they disagree with its terms. If your parents decided to leave the family home to one of your younger siblings and divided the rest of their estate disparately, or left...
What goes into a basic will?
If you are just starting to think about your estate planning or if your wishes are relatively straightforward and simple, you might consider writing a will. This is usually a good idea for any adult in Detroit and elsewhere. It can help to understand the elements that...
