Estate Planning
The importance of including the family home in an estate plan
You may be reluctant to speak about your death with your children or other heirs, but it's a meaningful first step in estate planning. You should set everyone's expectations concerning the settlement of your estate, including the disposal of your Michigan home....
Ancillary probate in Michigan
Michigan residents who are going through estate planning might be familiar with the probate process. Depending on the size or conditions of your estate though, a secondary probate process might be needed. Ancillary probate is an additional process that happens if the...
Why newly single parents need a trust
In Michigan, estate planning for newly single parents can present many complexities and emotional challenges. However, after losing a spouse to divorce or death, single parents must ensure that their children are cared for. A trust can provide many functions that lay...
Give your Michigan beneficiary designations the attention they deserve
In Michigan, your estate planning involves choosing beneficiaries to receive your assets. Yet, some people may not understand that their will is not the final say for all beneficiaries. Certain assets, such as retirement accounts, have beneficiary designations that...
Selecting the right executor
Estate planning requires many steps, and doing it properly could help ensure things work smoothly in a Michigan probate court. Devising a will with careful thought and consideration may involve more than determining who receives particular assets. Selecting the right...
Living wills and advanced directives in Michigan
Research conducted by the Centers for Disease Control and Prevention indicates that more than two-thirds of people in the United States do not have a living will. Legal documents such as living wills and advanced directives allow you to describe the kind of medical...
An overview of estate planning
Estate planning in Michigan requires careful thought and consideration about several matters. An estate planner might have the best interests of beneficiaries in mind, and steps to procure the best outcome could involve deliberately reviewing all actions and...
Estate planning essentials and considerations
Michigan estate planning is integral to your overall financial plan, and some fundamental considerations can help lay the groundwork for a strong estate plan. Estate planning protects your assets and distributes them according to your wishes, providing peace of mind....
How can you avoid unnecessary probate costs in Michigan?
It's not just the size of an estate that causes probate to cost more. Family conflict, assets that aren't in Michigan and unusual assets like collectibles also drive up the cost of probate. Be consistent Conflicting information in your estate plan causes conflict...
Giving your loved ones access to your bank accounts
The purpose of estate planning is to make sure your family members receive what you've worked hard for throughout your life in the most efficient and practical manner. One such method is providing access to your Michigan bank accounts after you pass away. Add "payable...