Creating a will that outlines your wishes concerning the division of your assets after you are gone can help your family understand how to handle the disbursement, but what happens when there is a disagreement among your heirs? Such arguments can lead to probate...
When it comes time for people to designate a trustee for their estate in Michigan, they should spend adequate time selecting someone credible. Because the duties of a trustee require access to personal records and confidential information, people should choose someone...
When you start writing your will, you may feel overwhelmed at the breadth of topics to discuss in this important document. Fortunately, writing a will does not require completion in a week or even a month. While experts recommend having a written will as soon as...
While sitting down to write your will, you think about taking care of your adult children after you die. Maybe your oldest daughter makes a lot more money than your oldest son, or perhaps your youngest son has a spouse's income to fall back on. How do you fairly split...
Arbitration is a type of alternative dispute resolution that may allow individuals to avoid expensive and time-consuming litigation. In Michigan, arbitration follows the guidelines set forth in the federal Uniform Arbitration Act. Review the process of arbitration and...
As the parent of a Michigan child with a disability, you face unique estate planning considerations many of your peers may not. Your main concern may be to figure out how to set aside a legacy for your child that is not going to hinder his or her ability to access...
Michigan residents like you spend so much time and effort on your estate. It only makes sense for your estate plan to have just as much care put into it. This ensures a relatively smooth and easy transfer for your beneficiaries. One of the best ways to ensure a smooth...
Many Americans think that estate planning does not need to be a focus until one is nearing retirement. However, in reality, you can die at any age no matter how healthy you are. For this reason, young people need to have wills in place as well. However, it is not...
A trust makes a solid estate planning tool. This type of arrangement allows you to put assets in a trust and assign a trustee. Upon your death, the trustee will manage the ownership of the assets in the trust, and he or she has the responsibility to distribute the...
If you are creating a trust for the first time, you might wonder how a trustee should act in the position. Choosing the right person is important since your trustee will have the responsibility of administering your trust and seeing to it that your beneficiaries will...
