When most people think of a trust, they are referring to a traditional revocable living trust, which is a common estate planning technique that is designed to easily transfer assets to the trust’s beneficiaries after death without the hassle and ex…
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Acting as the executor or personal representative of anyone’s estate comes with significant responsibilities. Completing all of these duties can be complicated and typically requires the assistance of an experienced estate administration attorney w…
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Payable on death (POD) accounts and transfer on death (TOD) accounts are very similar, in that they pass account proceeds directly to the person of your choice upon your death, without going through the probate process. The only difference between th…
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While most people are probably familiar with the concept of a will, they may not have extensive knowledge about what a basic Michigan estate plan entails. There are various documents that comprise a comprehensive estate plan, and those documents may…
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In today’s age of do-it-yourself (DIY) home repairs, instructional YouTube videos on every possible subject, and Pinterest, it is no surprise that DIY wills and estate planning documents have emerged into mainstream America. Essentially, these form…
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The need for future planning confronts all of us at one point or another, and future planning includes estate planning. While you may not wish to think about topics like incapacity and death, they are both a part of life for everyone. Careful plannin…
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If you just moved to Michigan and you already have a will from Illinois, the good news is that your Illinois will most likely will be perfectly valid under Michigan law. With that said, estate planning law is very different from state to state, and t…
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Whether you choose to add your adult child to your bank account depends upon your needs and your objectives in doing so. Some individuals place adult children on their bank accounts simply to make it easier for the children to help them with financia…
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Some vacation homes, cabins, or cottages in Michigan have remained owned by different generations of families for years. The concern for passing these homes down from one generation to the next historically was with the “uncapping” of residential…
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When your child turns 18 years of age, he or she is an adult. However, when your child has special needs, being a legal adult doesn’t mean that he or she can take care of his or her own financial, medical, and other personal needs. In this situatio…
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