Warren Estate Planning Blog
What is a quick rinse in a bankruptcy case?
Many businesses struggle with debt, including those established in Michigan. A quick rinse might be the best option to get through the process. Business owners should know what a quick rinse is and how it relates to bankruptcy. What is a quick rinse? A quick rinse is...
Michigan eviction process
A landlord in Michigan can evict a tenant if they breach the lease contract. But in doing so, the landlord must follow the state's landlord-tenant laws, or else a tenant can file a lawsuit against them. Here's how the eviction process goes in Michigan. Step 1. Sending...
What are advance directives?
In Michigan, there are two different kinds of advance directives that are recognized as legal and binding: the do not resuscitate declaration and the durable power of attorney for healthcare. These are important aspects of letting a person declare their health...
Middle-aged people are slacking on their estate plans
Middle-aged people in Michigan and around the country may be procrastinating on estate planning more than Generation Z, according to a 2021 survey. It found that, for the first time ever, people in the 35- to 54-year-old age group are less likely to have a will than...
For new parents planning an estate
Estate planning as new parents is time-consuming, but making a plan for your child is important. Michigan families have a tremendous amount to care for and account for. Among the concerns that new parents have are the health, finances, and future of their newborn...
Is disinheriting a spouse possible?
Estate planning takes into account a spouse if you have one. If you die without a will, which leaves you with an intestate estate, Michigan state law defaults your possessions or financial assets to a living spouse. Disinheriting a spouse, though difficult, is...
How to include pets in a Michigan estate plan
If you own a pet, it may be possible to include provisions for that animal in your estate plan. For instance, you may be able to create a trust that is to be used to provide for your animal's needs after you pass. It may also be possible to name a preferred guardian...
Important topics regarding estate planning for blended families
If you found love with someone new in Michigan, either you or this person might have children from a former relationship. When this happens, you're living in a blended family. With that said, starting a new journey with a blended family can get complicated....
Understanding Medicaid spend-down strategies
Seniors in Michigan and around the country may be concerned about their ability to afford long-term nursing care in the future. Even those with Medicare and associated supplement plans may find themselves at loose ends if they need residential or at-home nursing care....
How do digital assets fit into an estate plan?
The fundamentals of estate planning do not change, even as the decades pass. Preparing a last will and testament and power of attorney designations continues to stand as essential elements for Michigan residents, as does putting together a file of helpful information...