Helping Clients Build A Safe, Secure Legacy
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...
A financial power of attorney is one of the most important estate planning tools available to any adult of sound mind. Yet, many people overlook it when creating their plans. If you have not yet executed this legal document, know that it can allow you to designate...
Adulting isn't easy. While living on your own is an adventure in independence, it also has its downsides, such as paying rent and scheduling your own doctor and dentist appointments. You can now add "estate planning" to that list because it's not just for people who...
Creating your estate plan enables you to tell your loved ones what you want to happen with your assets when you pass away. This has several components, so it’s critical that they work together in a way that’s legally enforceable. When it comes to your assets, the two...
When a loved one passes away, it is natural to feel overwhelmed by the probate process, which involves settling the decedent's estate per their will. Whether you're an estate beneficiary or the estate executor, understanding the steps required in Michigan can help...
Estate administration in Michigan can be a lengthy process. Personal representatives often spend a year or more communicating with interested parties, attending hearings in probate court, managing various assets and carrying out an individual's last wishes. Throughout...