Estate planning typically covers a last will and testament and other topics like guardianship for dependents or conservatorship after a person's health declines. One subject that people often overlook is the cost of their funeral. Taking care of these costs ahead of...
Creating a trust involves different decisions, such as whether to make your trust a revocable or irrevocable trust as well as determining who should benefit from your trust. If you are contemplating a trust for your children or other beneficiaries, you should also...
You may add or remove assets transferred to a revocable living trust as often as necessary until your death. Your beneficiaries and the instructions regarding how your trustee should manage your property may also change. As reported by Kiplinger's Personal Finance, an...
If you are married and want to ensure your spouse lives in financial comfort after you pass away, it is important that you begin estate planning early. If you and your spouse own significant assets, you may want to include a bypass trust as part of your estate plan. A...
With the variety of trusts available, you may find a particular type that will best serve your current family situation. Right now your adult children may be struggling with personal issues that result in reckless spending or poor financial decisions. Creating a...
While wills are an important part of all estate plans, trusts are also beneficial. According to CNN Money, living trusts are established while you are still alive. Like wills, they disperse assets to loved ones after you are gone. However, they provide more control...
While tending to estate planning, you learn about different trusts. You cannot take the one-size-fits-all approach when tending to your legacy, so which trust fits your situation the most favorably? CNN Money explains several trust options. See which type you may want...
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...
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...
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...
