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Most people find their daily lives punctuated by opportunities for self-service and suggestions that projects can be completed on their own. From ringing up your own purchase at a grocery store to completing a small home renovation project all by yourself, the idea of...
If you are setting up an estate plan, you likely have various concerns with respect to what happens to your property and assets after your death. Many people pass down valuable assets and items with sentimental value to their loved ones. However, aside from figuring...
When a deceased person does not have a valid will, Michigan laws govern distribution of his or her assets. If the person has minor children, the state will also determine custody in this situation. Reviewing these considerations can highlight the importance of having...
One of the driving forces behind Americans establishing estate plans is to lower the possibility of conflict between beneficiaries after death. Namely, dying without an estate plan can cause your surviving children to fight over your estate. Even a well-crafted estate...
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...
While many people find it challenging to devote the time necessary to drafting a comprehensive estate plan, even less might understand that revisions are often necessary. As the foundation of all estate plans, the will is a crucial document. Even with the ability to...
The world of inheritance in the U.S. with its possibilities of transferring vast sums of wealth to another generation is, to say the least, an interesting topic. In Hollywood, many movies center on intensely contested inheritance battles. A few factual references...
An estate plan allows people to articulate their final wishes. They can make beneficiary designations, clarify their intent and leave words of comfort for their surviving family members. Some people may wish to begin allocating gifts while still living. A benefit of...
Owning a business in Michigan puts a unique twist on estate planning. On top of coordinating the delegation of your personal assets, you will want to ensure that your business is in good hands when the time comes for you to step down. Working a succession strategy...
Concerns about probate administration are common during estate planning. Everyone has heard horror stories about estates held up for months or years while the court decides on how to administer them. According to U.S. News & World Report, the probate process is a...
