When a person passes away, their estate begins moving through probate court. Each state has a probate court that oversees the distribution of a person’s estate. This process ensures that the estate satisfies outstanding debts, pays finals taxes to the government and...
Month: June 2020
QTIP trusts and blended families
Getting married after being divorced or widowed offers people an opportunity for a positive family life. However, people considering a second or subsequent marriage should evaluate their current and future financial affairs carefully before walking down the aisle. In...
Don’t let estate myths stop you from creating an estate plan
Estate planning is vital to have in place at any age. If you don't have the correct facts, you could be steered in the wrong direction and become vulnerable to additional financial and personal stresses. To help you get back on the right path, below are the top 4...
Dying without a will in Michigan
Many people are hesitant about estate planning. Considering the end of one’s life is challenging and uncomfortable. However, many heads of households understand that these plans are essential to taking care of their family after they are gone. Unfortunately, many...
What are some of the differences between wills and trusts?
Wills and trusts are estate planning tools that you may choose based on your circumstances. Each document offers different features. Your choice may depend on whether you wish to transfer ownership of your assets smoothly or provide your beneficiaries with an income...
Prioritizing the estate planning process
For many people, daily life is very hectic and there are a number of challenges that have the ability to significantly affect one's future (such as legal problems and challenges at work). Our law firm realizes that these are very upsetting hardships for many people,...
Discussing estate planning with your spouse
When it comes to the estate planning process, there are a wide variety of factors to take into consideration. For example, people need to determine which type of estate plan makes the most financial sense, review relevant tax matters and think about beneficiaries....
Why you should include your digital assets in your estate plan, too
Your estate plan includes who will inherit your money, your home, family heirlooms and other valuable assets. But does it also include your social media passwords and ways to access the files you have uploaded into the cloud? Your digital assets may be more valuable...
What should I know about reading a trust?
A trust administrator must understand the trust to know how to properly manage it, which requires understanding the trust language and the general aspects of this type of document. Forbes explains that you should know the trustor is the person who created the trust,...
