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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...
If your relatives have written a will, they have probably done more estate planning than most of their neighbors. After all, 62% of Americans have no will at all. Having a will, though, does not do your loved ones much good if the document does not reflect their...
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...
If you want to avoid guardianship, setting up an effective estate plan could help your loved ones avoid appointing a guardian or conservator in the event that you become incapacitated. People choose to avoid guardianship for multiple reasons, especially since the...
When crafting an estate plan, you will likely mention plenty of people. After all, your estate plan is crucial for handling all matters of your end-of-life experience, along with your death. When writing this plan, who are the most important people in it? Who should...
Experts suggest that you review your estate plan every three years. After creating your estate plan, a review this frequent might feel like a Herculean task. Is there any way you can break it down into a more manageable duty? Fortunately, there is. You do not need to...
While disinheriting your spouse from your assets may seem like a harsh decision, there are many situations where it might make sense. For example, if you and your spouse are separated but not legally divorced, you may wish to disinherit them before the divorce is...
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...
