Our regularly updated blog provides important information about estate planning in Michigan. Learn about key estate planning documents, as well as the special estate planning needs of blended families, singles, parents of special needs children, and unmarried couples in committed long-term relationships.
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What Happens to My Loved One's Medical Bills After Death?Planning for your estate can help you ensure that your assets and loved one’s interests are protected in the event of your death.
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Do I Need A Michigan Living Trust?Living Trust Michigan - Attorney Glenn Matecun helps you create a living trust, decide if you really need one, and what kind you need. Free Consultation!
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What is a Legacy Trust?As people are preparing their estate plans, it is often the case they want to leave wealth to their loved ones. In some fortunate cases, the person has adequate resources in their estate to set up a trust which will benefit their family for generations to come. For people seeking to keep their assets in... Read More »
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What is a Springing Power of Attorney?Michigan Power of Attorney for Finances The term power of attorney can be used to describe various legal documents which grant another person authority to act on your behalf. Depending on how a power of attorney is constructed it might be effective immediately or at some point in the future. When a power of attorney only... Read More »
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What is a Trustee Responsible for?When creating a trust one of the most important decisions you must make is who will be the trustee. The person chosen for this role will ideally be someone that the beneficiary knows and in which the grantor (creator) of the trust has a great deal of faith. Trustees are in an important position and... Read More »
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What Should be in Your Will?Deciding to prepare a will is a responsible and prudent thing to do. By setting out where you want your assets to go and how your estate should be distributed you are taking an important step which ensures that your final wishes will be honored. To make sure your will is effective, it is also... Read More »
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5 Ways to Improve Your Retirement PlanThe thought of retirement can bring to mind plans of relaxing and enjoying time with friends and family. However, contemplating the future can also be a source of anxiety for people who do not feel that their retirement plan is in optimal condition. Fortunately, no matter how close you are to retirement, there are always... Read More »
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What is an Annuity Trust?A goal of estate planning is to protect assets while minimizing taxation. For people who own income-producing assets, a Grantor Retained Annuity Trust, or GRAT can be an option for transferring wealth while still receiving income from those assets, and reducing taxes owed by their beneficiaries. What is a GRAT? A GRAT is an irrevocable... Read More »
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What is an Irrevocable Trust and Do I Need One?When you think of the term trust, you may thing that all trusts are created equally. However, there are many kinds of trust and some may be better for your situation than others. Depending on your circumstances, an irrevocable trust may be beneficial to you. Here are some considerations regarding an irrevocable trust: What is... Read More »
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When You Need to Update Your Estate PlanPreparing an estate plan can be a multi-step process which, depending on its complexity, can take days, weeks, or even months to complete. After everything is drafted, signed, executed, and in place, many people will file their estate plan away and consider their decisions settled and the matter closed. As time passes however, there may... Read More »
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What is a Living Trust and do I need one?When planning for your estate, there are different ways you can plan to pass assets to your chosen beneficiaries. One choice is to create a living trust which allows you, the creator, the flexibility to make changes and benefit from trust assets during your lifetime, and avoid probate after you are gone. Here are some... Read More »
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5 Common Types of TrustsA trust is essentially a legal agreement between three parties: the trustor, trustee, and beneficiary or beneficiaries. The trustor (sometimes called the grantor or settlor) creates the trust agreement; the trustee is responsible for managing the trust property that has been transferred into the trust; and, the beneficiaries receive the benefits of the property titled... Read More »