Many people procrastinate when planning an estate in Michigan. Others leave out important, valuable items that their family members end up fighting over. There are certain assets that stir up the most trouble when it's time to settle a deceased person's estate....
Even if you haven't started your estate plan, you've probably heard the term "power of attorney" before. Power of attorney references the person who your lawyer will listen to in the event of you dying or being incapable of communicating. Since this person is...
When people talk about estate planning, many people's minds jump to thinking about assets like real property and money. The truth is that when a Michigan resident dies, they can still leave debts behind. Understanding how to handle these debts is imperative to...
There is a good chance that you use a Google service to check your email, schedule appointments or manage a digital photo album. Generally speaking, Michigan law allows you to appoint someone to oversee these assets after you die. It may also be possible to appoint an...
When you die in Michigan, a portion of your estate might have to go through probate before your beneficiaries can receive their assets. Probate is the process in which your assets are distributed to your heirs and beneficiaries. Fortunately, there are a few assets...
In recent years, several celebrity estates have been in the news because of such mistakes as creating trusts and failing to fund them or because of not creating an estate plan at all. The very wealthy are as likely to make these and other estate planning errors as...
Regardless of age or social status, it is highly encouraged that everyone have an estate plan in place. These plans not only serve to make sure that a person's assets are distributed according to their wishes in the event of their incapacitation or death, but they...
If you are planning to get remarried, it is a good idea to review your estate plan before a second or third marriage becomes official. This can prevent you from accidentally leaving a Michigan home to your previous spouse instead of a child or another intended...
Did you ever know someone who went to the doctor, got a prescription and then failed to take it? A lack of follow-through like this is cited as the reason that most estate plans fail according to one survey of estate planners. The mechanics of a living trust In...
A well-thought out estate plan is one of the best things we can leave for our loved ones. When our remaining family members are grieving, they don’t need the stress of being forced to figure out what we would have wanted, and leaving those decisions up to the courts...
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