Someone who is making estate plans in Michigan may believe that a trust is his or her best option to avoid costly estate taxes. This is not necessarily the case, but there are a number of important and valid reasons why a trust may still be the most effective way to...
An estate plan is not something young people often think about. The idea normally surfaces around the time the first child comes along, but the new parents might not take action on it right away. Putting together an estate plan may sound like a logical next step once...
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...
In planning long-term financial goals, including estate planning and end-of-life issues, people may be interested in all the benefits of trusts. According to MichiganLegalAid.org, a person, known as a grantor, who chooses to create a trust designates another person or...
You may assume that if you die without a will, your assets automatically go to your spouse and children. While there is some truth to this, Michigan has very specific rules for the distribution of your estate to your heirs, as well as definitions of who your heirs...
