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November 2018 Archives

Stepparents, stepchildren and probate disputes

There are a wide variety of legal matters that may need to be taken into consideration when it comes to probate disputes, and no two are exactly identical. Some can be especially difficult from an emotional point of view, such as a dispute that pits family members against each other. Furthermore, there may be certain situations in which family members experience especially negative feelings with one another. For example, a stepchild may be upset with his or her stepparent who is in charge of an estate plan. Or, a stepparent may find themselves in the middle of a disagreement involving their stepchild.

Uncertainty as the executor of a will

If you have been placed in charge of a loved one's estate plan, you may have uncertainty for a number of reasons, whether your loved one recently passed on or they just informed you that they decided to name you as the executor of their will. This is understandable and there are all sorts of factors related to estate plans that can give rise to uncertainty. However, by discussing this issue with your loved one if they are alive, or consulting a legal professional if they have passed away, you may be able to ease some of your concerns.

Probate disputes over the wording of an estate plan

We have covered some of the common reasons why probate disputes arise and the various challenges that people may face when they are in this position. However, it is important to realize that there are many other factors that can play a role in probate disputes. For example, a disagreement may arise over an estate plan's wording or the way in which an estate plan was set up. Sometimes, these disputes arise over someone's genuine disagreement or confusion, while others may be the result of someone intentionally trying to disrupt the process. Either way, it is important to be prepared, especially if you are in charge of the estate.

What are some tough estate planning questions I should know?

Many people in Michigan approach estate planning reluctantly. After all, it can be difficult to face the topic of one’s own mortality as well as other difficult decisions, such as those involving your kids. In this case, Forbes recommends anticipating the following tough questions to ensure you’re fully prepared for the process.

Estate planning after a health scare

Some people set up an estate plan because they are simply looking to the future and want peace of mind, while others experience an unexpected crisis which prompts them to create a trust or will in order to protect their assets. For example, a health scare may cause someone to set up an estate plan much sooner than they were expecting. If you have recently suffered a medical emergency that you did not see coming, it is crucial to not only protect your health but your finances as well. These situations may also cause people to create an estate plan at a relatively young age.

Who should I select to manage my trust?

When creating a trust in Michigan, you’ll need to select a person to administer it. This person will be responsible for a number of duties, from managing property owned by the trust to ensuring beneficiaries receive their allotment of assets. To make sure your trust is in the right hands, TheBalance.com offers the following tips.

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