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...
Month: October 2020
What makes an ethical trustee?
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...
Updating your will the right way at the right time
The saying "it is never too early to make your will" is correct. It is also correct that updating your will does not require a special checkpoint either. Michigan law provides a couple of ways to update your will easily and comprehensively depending on your situation....
How do you avoid disputes among heirs over your will?
Sometimes, people have complaints about elements of an estate plan or a will. The best way for you to avoid this is typically to consider the human element while planning for the future. However, even the best plans sometimes fail to address every possible outcome....
How does Michigan handle probate?
Understanding the probate and estate administration process can help you make important decisions about your will. In Michigan, specific requirements determine whether a will must go through probate, or court supervision, after you die. Review the probate laws in...
What is a living trust?
The majority of people are at least familiar with the role of a will in distributing a deceased person's assets, but many people are far more hazy about living trusts. In fact, a comprehensive estate plan usually involves both a will and a living trust. Living trusts...
