Helping Clients Build A Safe, Secure Legacy
Most adults have probably heard that they need to have an estate plan in place, but some may not realize the importance of it. While you may have seen one-size-fits-all estate plan programs online, those are typically a good idea for most adults. Your estate plan...
As a business owner, you will form different types of contracts. Examples include employment, supplier, sales, confidentiality, noncompete, licensing and lease agreements. While these contracts are expected to offer protection and clarity, they may fail to do so when...
Making an offer on real property - or negotiating the terms for a purchase agreement - can be a complicated process. Those hoping to acquire real property are often eager to stand out from other buyers, but they also need to consider their financial and legal...
A personal representative or executor must oversee estate administration. They take responsibility for carrying out the deceased person's wishes and fulfilling their obligations. If they make major mistakes during that process, they could face financial liability or...
When you ask people if they have made an estate plan, they sometimes tell you that they simply have not done it yet, even though they are going to. In some cases, people will say that they want to earn more first. They do not think that their net worth is high enough...
With trusts, taxes can quietly eat into what was meant to secure your loved ones or fund something meaningful. You may set up trusts with good intentions, only to realize later how much the tax implications change the outcome. A charity trust fund lets you give to...
Few things can cause more tension in a family than a fight over a loved one’s will. To prevent this, many people include a no-contest clause in their will. This is a provision in a will meant to discourage heirs from challenging it. In simple terms, it warns that if a...
When estate planning, one of the first things a testator (someone who drafts a will) thinks about is the type of will to draft. Testators in Michigan have three primary types of wills to choose from – a handwritten, formal or statutory will. They are equally valid....
Amidst the excitement of starting a business, entrepreneurs often overlook one critical detail: personal liability. What happens if the business fails or faces a lawsuit? Without proper legal safeguards, your personal assets, such as savings, home or even your...
If you are creating an estate plan to protect your legacy, then you may want to consider adding a revocable trust. A revocable trust allows you to transfer assets to a trust that is managed by a trustee. The trustee is responsible for distributing trust funds and...