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Don’t Delay Discussing Your End-Of-Life Wishes in Ann Arbor
July 30th, 2013
This uncomfortable, ethically questionable, confusing scene over Ms. Bayliss’ end of life did not have to happen the way it did. If you don’t want to be in that kind of situation, you need to be responsible for deciding what you want and co…
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Categories: Elder Law
When to Revoke the So-Called Irrevocable Trust
June 26th, 2013
Americans were once trust-happy. Now many are having second thoughts, and rightly so. How irrevocable is the so-called irrevocable trust? Well, many people are ready to find out as they consider changes to their trusts now that ATRA 2012 is in the mi…
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Business Succession Through Incentive Trusts
June 24th, 2013
… We introduced an approach to trust drafting that would encourage financial literacy through provisions that are clear, objective, and correlated with the beneficiary’s ability to manage money responsibly. The prospect of whether or not a family…
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Taking Care of Your Elderly Parents’ Finances
June 21st, 2013
"When they are having trouble understanding bills and writing checks it might be time to step in, slowly, at the ground level," Kolinsky said adding that if parents initiate a discussion, the ideal time would be when they are in their 70s a…
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A Beneficiary Blunder: Can Your Ex-Spouse Inherit Your Life Insurance?
June 20th, 2013
Words to the wise: keep beneficiary forms up to date. To change a beneficiary — for example, if you get married or divorced or your spouse dies — make sure to file an amended form. Even if your state has a law designed to cover oversights (or pro…
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A New Outlook on the “Trust Fund Baby”
June 19th, 2013
Many wealthy people worry about the potentially corrosive effect of making their children superrich. Not Larry Ellison. The Oracle founder and CEO, the third richest man in the United States — worth $43 billion, according to FORBES’ latest estima…
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Charitable Giving or Elder Abuse? Uncertainties of a Late Heiress’s Last Years
June 14th, 2013
Admitted in 1991, Mrs. Clark ended up staying until her death, giving the hospital at least $4 million in donations, not counting millions more she paid just to live there and a $1 million bequest in her final, contested will, according to court pape…
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Tags: Elder Law
Medical Alert Scam Becoming Widespread
June 12th, 2013
Barbara Adams, 70, keeps getting one of those annoying robocalls that she just knows has to be a scam. The voice implies that somebody, her doctor or maybe her children, signed her up for a medical alert system. It's all free, the recording impl…
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Dodging the Family Feud over Your Estate
June 11th, 2013
Unfortunately, estate planning can cause family feuds over inheritance, often leading to litigation that can become lengthy and costly with no clear winner. From our experience, family litigation occurs not from a lack of trying to solve the issue, b…
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Don’t Hold Off on Having Those Hard “Talks” … Or It Will Cost You
June 10th, 2013
If you haven’t had a conversation with your parents about handling their financial affairs after they die, Krysten Crawford’s tale may spring you into action. Certain “talks” or conversations are imperative, although some of those discussions…
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Tags: Elder Law
