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The Rising Costs of Senior Care in America
October 13th, 2019
Long-term care planning is a must for any senior citizen, but as costs continue to drastically climb, the prospect of being able to fund long-term care seems next to impossible. While there are more options available today for senior care, some of wh…
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How Do I Deal With Property Located Out of State in My Estate Plan?
August 6th, 2019
Many Michigan residents own real estate outside the state. Whether it is a Florida beach house, a Kentucky lake home, or a Wisconsin cabin in the woods, you will have take extra steps to ensure that you include that property in your estate plan. If y…
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Should I Put My Adult Child on My Bank Account or Not?
May 7th, 2019
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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What is the Difference Between a Revocable Trust and Irrevocable Trust?
March 28th, 2019
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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What Are PODS and TODS?
March 21st, 2019
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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What Do I Need to Include in a Basic Estate Plan?
March 5th, 2019
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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Do I Need to Make a New Will if I Just Moved to Michigan and I Have a Will From Another State?
September 25th, 2018
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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My Brother and I Just Inherited the Family Vacation Home. What Should We Do Now?
September 18th, 2018
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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What Happens When My Special Needs Child Turns 18?
September 13th, 2018
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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Categories: Uncategorized
What’s the Difference Between Medicaid and Medicare?
September 11th, 2018
Medicaid and Medicare are two separate government programs that provide health care coverage for eligible individuals. However, the two programs are quite different, and vary widely in the types of medical expenses that they cover. The two programs a…
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