Estate Planning

Many Michigan residents include revocable trusts in their estate plans because these versatile instruments protect their assets while they are alive and give them more control over how their estate will be administered after they pass away. Revocable trusts are so...

An estate plan is one of the most important legal considerations that you must prepare in your lifetime. While parenting might not be part of your plans, child-free couples like you would still benefit from planning out how you want to secure your legacy and...

The results of a survey conducted by a leading digital estate planning platform suggest that many millennials in Michigan and around the country are struggling to cope with their financial situations. Almost three-quarters of the 15,000 millennials surveyed expressed...

Many Michigan residents choose to include irrevocable trusts in their estate plans to avoid the probate process and give them more control over how their estates will be administered and their assets distributed. When an individual chooses to create an irrevocable...

Estate plans aren’t the most popular topic, but everyone in Michigan should have one. Some people think this entails only having a will, but there’s much more to it than that. Advance directives are crucial legal documents to include in your plan. Understanding...

There is often conflict over what happens to a person's estate and assets after they pass away. When there is no clear will or other estate planning documents, what happens can be largely left up to Michigan judges and the probate process. As a result, a decedent's...

Compiling a comprehensive estate plan has many potential upsides. Creating a will or a trust that keeps beneficiaries from dealing with Michigan interstate laws might make things less stressful and more productive for survivors. Crafting other elements of an estate...

High-net-worth families in Michigan have a short window to take advantage of the higher estate and gift tax exemptions offered by the Tax Cuts and Job Act (TCJA). If these are allowed to sunset on Jan. 1, 2026, estate gift and generation-skipping transfer tax...

If you are creating an estate plan, you may have decided to use a trust as your primary tool for distributing assets to your Michigan beneficiaries. Many people prefer a living trust because it allows them to make changes to it, unlike an irrevocable trust. However,...

In Michigan, when families consider how to treat heirlooms in their estate plan, it’s essential to remember these items often represent threads that connect generations; they are not merely objects. By carefully navigating the planning process, you can ensure family...