Warren Estate Planning Blog
What are grounds for evicting a tenant in Michigan?
When evicting a tenant in Michigan, landlords must follow specific rules and regulations. Understanding the grounds for eviction helps landlords and tenants know their responsibilities. Nonpayment of rent According to USGAO estimates, landlords evict millions of...
What you need to know as an estate personal representative
Personal representatives of estates play an essential role in managing and distributing assets when their owners pass away. However, despite the significance of the role, many accept the position unaware of its extensive responsibilities and demands. This often leads...
Revocable trusts are useful estate planning tools
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...
Do child-free, married couples need an estate plan?
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...
Financial stress is causing millennials to put off estate planning
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...
Choosing a trustee for your irrevocable trust
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...
New 1099 requirements for landlords
A significant law change going into effect in 2024 involves rental income that Michigan landlords must report on their1099-K forms. The current tax season is the first in which the Internal Revenue Service has changed reporting requirements to address unreported rent....
The importance of having advance care directives
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...
How to make your estate plan diverse and inclusive
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...
Why being a landlord isn’t as easy as it seems
Being a landlord in Michigan can be a great way to earn additional income and be your own boss while managing a property ownership business. Plus, your income tends to increase as you purchase and lease out more homes and apartment units. However, this role isn't as...