Warren Estate Planning Blog
When you are the executor of your parent’s will
When your Michigan parents leave a portion of their estate for you and have named you as the executor under their will, it can feel like a great honor and a heavy burden at the same time. The role of an executor is not an easy one, and in order to be successful at it,...
Medical debt and credit reports
Medical debt can be a severe problem that upends the lives of many Michigan residents. Some debtors might find their obligations to healthcare providers surprising when their insurance does not cover a substantial amount of care and services rendered. Others might...
How to leave money to favorite charities after your passing
Wealthy Michigan residents frequently donate to philanthropic causes during their lifetimes. While many do so for tax reduction purposes, others do so because they believe in the organization. People who have large estates can continue to donate after their deaths....
Valid reasons for unequal inheritances
Your Michigan home, a bank account or other assets inside of your estate can be divided however you wish after your death. As long as your will or trust are valid, you can provide each of your beneficiaries with as much or as little of your estate as you'd like. In...
Three vital things to look for when choosing an attorney-in-fact
Life is full of decisions for Michigan adults. At this point in life, making decisions is probably second nature. Unfortunately, illnesses, injuries and other life-changing events can impair decision-making abilities. When these situations happen, choosing an...
Criteria for Michigan attorney-in-fact
A Michigan attorney-in-fact is a person who can make legal decisions on your behalf. You must complete a power of attorney document before anyone can serve as your attorney-in-fact. Once you’ve chosen your attorney-in-fact, that person can take legal actions and make...
How much should you charge a tenant to rent your property?
If you're a Michigan adult looking for extra money or to pay off a mortgage, renting out an owned property is a great way to achieve these goals. But it's understandable to have questions about becoming a landlord. A common concern landlords face is how much money to...
Tips for estate planning for new parents
Estate planning in Michigan is a critical topic for new parents. After all, they will need to think not only about their financial security but also about their children's future. Creating a plan now can ensure that your wishes for your children are carried out if...
Retirement peace of mind through estate planning
As Michigan residents approach retirement age, there is a natural inclination to focus on financial planning, healthcare and lifestyle adjustments. Estate planning for retirement is the process where you organize and arrange your assets and affairs to ensure a...
Landlording for beginners
As a Michigan homeowner, you may be considering renting out a house you own to supplement your income. But you should be aware not only of the upside, but also the responsibilities and potential downsides. Being a landlord can be a wonderful way to add another income...