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...
Estate planning errors to avoid
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...
Livonia, MI Estate Planning
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...
Reasons to update an estate plan after remarrying
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...
Why some Michigan estate plans fail
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...
The basics of a complete estate plan
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...
Patient Advocate Designation for College Students
Are your children going back to college? Good for them. This is the time for them to grow in their education, independence, and maturity. Time for them to learn to take care of themselves. Do they need a Patient Advocate Designation?Remember, that if they are 18 years...
Are you inheriting an IRA or 401k?
The good news about that is that generally, you will be able to treat that account as a "spousal rollover IRA if inheriting from your spouse. If the owner is not your spouse, you may be able to treat it as an Inherited IRA or "Stretch IRA," which has some significant...
Don’t let one of these estate planning mistakes impact you
Are you concerned about tackling the estate planning process? Are you worried that you could make a few mistakes that cause you and your family harm? Are you hoping to adjust your approach in order to avoid this situation?Any estate planning mistake, even one that is...
Digital Estate Plan
Estate planning mainly centers on planning for tangible assets, like property you own, investments, bank accounts, family heirlooms and other items of value. But, you may want to include provisions for your digital assets. That includes things like:Email accounts...
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14881 Farmington Road
| Livonia, MI 48154
Phone: 734-245-9289 Fax: 734-422-0461