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Did a New York Woman Scam Her Own Daughter’s Inheritance?

Sometimes people think that it takes a lot of wealth for problems to arise within families over estates. However, what is a lot for any particular family is relative. People who do not have much wealth will fight over far less money than those who do… Read More
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Revoking an Irrevocable Trust

By the basic meaning of its title, it would seem that an irrevocable trust cannot be revoked. However, in Louisiana, a battle is waging over whether or not that is always true.   Tom Benson is believed to control the largest fortune in the state… Read More
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An Estate Planning Tool Disguised in Retirement – The Roth IRA

Seniors who convert a regular IRA into a Roth account can reduce their estate taxes and eliminate the income tax their heirs would otherwise have to pay on withdrawals taken from an inherited regular IRA. Even though a tool may not originally be desi… Read More
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Estate Planning Review Advised After ATRA 2012

"Everybody should think about their estate regardless of the level of assets," says Barry Fischman, a partner at accounting firm Marcum. "The biggest hurdle is psychological. People say, ‘I'm not ready to do anything. I want to… Read More
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More People Get Option to Convert to Roth IRAs in Ann Arbor

Under the new rules, a Roth conversion would be available to anyone with a traditional 401(k) and an employer who offers a Roth account and conversion. It’s no doubt that the Roth IRA is a favorable option to many people when it comes to retirement… Read More
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A Gift You Cannot Return in Ann Arbor

The Brooklyn Museum seemed to have garnered a bonanza in 1932 when it received a large bequest from the estate of Col. Michael Friedsam, president of the elegant retail emporium B. Altman. But eight decades later … the museum potentially faces a he… Read More
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Do You Need Estate Planning if You Are NOT Rich in Ann Arbor? Yes You Do!

The current commotion in Washington regarding the fiscal cliff (and the estate and gift taxes) may not particularly interest you. However, while these discussions generally only affect the extremely wealthy, don’t be deceived. You still need an est… Read More
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IS IT ALREADY TIME FOR NEW YEAR’S RESOLUTIONS AGAIN? SOME TIPS TO MAKE THOSE PESKY PLANS STICK!

As we edge closer and closer to January 1st, many people begin the annual process of deciding on their New Year’s resolutions – changes that they want to make to improve their lives, health and experiences in the coming year.  It’s complet… Read More
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Adding Adult Children to Ann Arbor Bank Accounts - Simple Solution or Devastating Consequences? (Part 2 of 2)

In our previous blog, we discussed why adding your child to your bank account can have dangerous consequences, such as losing your entire account in the event your child is sued, has a creditor, or gets divorced.  In this blog we discuss the pro… Read More
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Adding Adult Children to Ann Arbor Bank Accounts - Simple Solution or Devastating Consequences? (Part 1 of 2)

                At Legacy Law Center, we frequently meet with clients who are sure that they don’t need to retitle their checking or other accounts to the name of their… Read More
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