Warren Estate Planning Blog
When it’s time for the kids to take care of the parents
As parents get older and need to be taken care of, the responsibility often shifts down to the children. Sometimes, the way to share the load is obvious, but it's not always so easy. Either way, it's a mistake to wait until your parents in Michigan need help before...
What should you know if you’re considering bankruptcy?
Deciding to file for bankruptcy should never be taken lightly by Michigan residents. However, if other options for alleviating debt are out of reach, there are things that should be done before, during and after you file. Determine if it’s the right option Bankruptcy...
What are a few things a landlord is not permitted to do?
Many Michigan residents rent houses or apartments. Some can’t afford to own, so renting is a convenient and cheaper option. However, it’s helpful to know that there are certain things your landlord is not allowed to do by law. Enter without proper notice If your...
Considerations when discussing estate planning with your children
One of the biggest challenges of discussing estate planning with your children in Michigan is the fact that it can be a very emotional topic. You may be worried about how your children will react to the news, or you may be concerned about their ability to handle the...
Becoming a landlord in Michigan may be or may not be worth it
If you have some extra cash that you're looking to invest or have extra space in your Michigan home, becoming a landlord may seem like a worthwhile venture. But as with all other careers, it's not without its challenges. The benefits of becoming a landlord The real...
Why you need an incapacity plan in Michigan
Many people don't think about the daily life risk of losing their ability to function independently. However, all it takes is a nasty blow to the head to incapacitate you. In this situation, you would be unable to make health care and financial decisions for yourself....
Standard responsibilities of a landlord
Renting a home in Michigan to a tenant can often bring in more income for your family. However, there are a few obligations that you have as a landlord to make the living environment as comfortable as possible for your tenants. Deposits While it is your right to...
What is the difference between a TOD account and a trust?
Planning for the future by creating an estate plan is something that can benefit all Michigan residents. If you wish to protect certain property from probate, two options you can turn to are a transfer on death account or a revocable trust. Knowing the differences can...
The importance of an updated estate plan for the family
An unexpected death in a Michigan family can leave survivors in a precarious situation when an estate plan is incomplete or out of date. Family situations can change with time, which means it is vital for people to evaluate their estate plans at least annually. This...
What is a will, and why do you need one?
Michigan adults can benefit from having a will as part of their estate plan. It’s important to understand the role of a will and why you need one. What is a will? A will is a legal document that allows you to specify how you want things to be handled after your death....