No matter your age or financial status, you must have an estate plan in place to protect your assets and your family. A solid estate plan can prevent a lot of stress and hassle after you are gone, while also ensuring your family receives your assets according to your...
Parents of children who have disabilities often elect to form special needs trusts. These trusts, which are an integral part of many comprehensive estate plans, provide financial support to beneficiaries without actually transferring wealth to them. Consequently,...
The main focus of estate planning is determining what happens when you die. However, there are also important decisions to make about situations that may occur while you are alive. One of these decisions is selecting a patient advocate. What is a patient advocate? A...
Disinheriting a spouse sounds like a harsh choice to make, but for some situations, it may serve as the best possible one. You may find yourself in a situation where it is beneficial to disinherit them, such as if you are in a second marriage and want your assets to...
Few people in Michigan will dispute the notion that estate planning is not difficult. Indeed, having to face the prospect of one's own mortality may prove difficult for anyone to deal with. Yet perhaps even equally as daunting is the prospect of offending any of one's...
An estate plan has many moving parts, and each of these individual parts can seem complicated and difficult to understand all on their own. However, each piece plays a crucial role in your health, safety and most of all, ensuring the honoring of your wishes even in...
While researching estate plans, you may learn about different wills. Where does a living will fit into your plan? Mayo Clinic breaks down living wills and how they help protect your end-of-life wishes. Determine what to include on this will to take care of yourself...
As your loved ones age, they might grow increasingly susceptible to outside influence as their own mental faculties begin to weaken. Unfortunately, abusers and manipulators wait on the outskirts for these opportunities and they are not afraid to take advantage of the...
There are many components of your estate plan, but your will is the foundation. This document gives you the control to say what happens to your personal assets after you die. The American Bar Association states that your will also gives you an opportunity to name a...
Establishing an estate plan may seem like a daunting task. Not only does it require you to take inventory of your possessions and assets, but you must determine who you would like to receive your property. One of the most important components of creating your estate...
