The last thing that most people want is family members fighting over their estate or assets when they are gone. For this reason, it is important to make sure that your estate plan is set up exactly how you want it. In some cases, such as with an individual retirement account, this might be more complex than it seems. Michigan residents might be interested to learn how inheritance disputes dealing with a difference in will beneficiaries and IRA beneficiary designation is handled.
In Midland County, Michigan, thousands of people were sent questionnaires that relate to jury duty. This form is known as a Juror Qualification Questionnaire. It does not mean that the people who get it have been selected to serve, but it is a step in that direction.
Making proper plans for your estate is vital for any adult. Some adults seem to think that they have more time to plan their estate, but that isn't always the case. The death of Dr. Martin Luther King, Jr., is continuing to highlight the importance of proper estate planning at an early age. A recent development with his estate has to do with some documents that Harry Belafonte says Dr. King gave him before his death.
Many people in Michigan may believe that it is not necessary for them to put their estate plan on paper. They have made their wishes known to their spouse and other relatives, so when the time comes, their assets will be quickly and quietly distributed according to their wishes, right? So why go through the time of writing up a will, trust or both with an estate planning attorney?
One of the nice things about establishing an estate plan is that it is not set in stone. You can amend the terms of your will, trust and other aspects of the plan at any time. As life goes on and people come in and out of your life, it is a good idea to review your estate plan from time to time, to make sure it still reflects your wishes.
The late Rosa Parks will always be remembered for helping bring about the end of racial segregation in the United States. Her refusal to give up her seat in the “white” section of the bus in 1955 remains an inspiring moment of civil disobedience against unjust laws to subsequent generations.
Unexpectedly losing at loved one at a young age obviously presents a number of challenges. Being taken off guard by such an event can cause tremendous grief. At the same time, estate administration can also become an issue. If a person doesn't have a clear plan in place, distributing assets and squaring away other legal issues might become contentious. After all, various family members might have opinions about how things should be done if there is no will.
Some people may hold charitable organizations or educational institutions very close to their hearts. As such, they might consider bequeathing valuable property to the organization. This was the intent of actress and cultural icon Farrah Fawcett when she designated that her art collection would be donated to the University of Texas upon her passing.
Going through the process of estate planning might be a big step for many people. Whether or not it takes convincing to get someone to create a will, chances are that the testator will want to get it right. No one wants to have an estate plan in place and feel as though it doesn't truly reflect his or her wishes. This is why it's possible to update and revise estate plans essentially up until the time that a person passes on.
Heiress Huguette Clark spent much of her life shrouded in privacy. Clark, whose fortune stems from the copper industry and the establishment of Las Vegas, chose to live outside of the public eye and lived in a hospital for the last two decades of her life. Just as Clark's life was surrounded by mystery, so was her death at the age of 104. Within a period of six weeks years before she passed, the heiress signed two drastically different wills, which triggered a contentious round of probate litigation.