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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Communication with your Family About Your AssetsThroughout your life, it’s likely that you will accumulate different assets which range in value. Some, such as your residence, car or personal possessions, will be evident while others like investment accounts or retirement funds may be less visible. While it may seem like you have plenty of time to plan for your estate, without... Read More »
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Estate Planning as a Single ParentWhen you are a single parent, your children depend on you for everything from their food and shelter to paying for their extracurricular and medical expenses. Additionally, you serve as a primary source of love and emotional stability for your children. While meeting their day-to-day physical and emotional needs is imperative, it is equally important... Read More »
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Improving Your Retirement PlanRetirement is a goal for many Americans. Ideally, after years of devoting themselves to work, an individual will be able to transition comfortably into enjoying their post-employment life. However, to achieve this goal, it is critical that potential retirees take steps today to prepare for their future. While you may have made some preparations, there are... Read More »
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Do I Need to Claim the Portability Exemption?A married person usually has concerns about making sure that they plan for their estate in a manner which leaves their surviving spouse and beneficiaries with as much of their assets as possible. For those couples whose own high-value assets which exceed a certain amount, the Portability Exemption could be a vital part of... Read More »
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Divorce and Social Security BenefitsDivorce is not a simple proposition at any age. It is often a long and emotionally draining process which involves complicated decisions about dividing marital assets and negotiating future financial stability. When a couple has been married for decades, there are a number of factors to consider in marital dissolution. One factor is the couples’... Read More »
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Timeshares and Your Retirement PlanTimeshares are vacation properties which are co-owned by different people to be used at different times throughout the year. Often, potential purchasers are approached about timeshare ownership when they are enjoying a vacation or through advertising. For those entering retirement, a timeshare at a holiday destination may be an appealing option. However, it is vital... Read More »
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Worried About How to Pay for Long-Term Care & Nursing Home Costs?You don't have to "go broke" in order to qualify for nursing home assistance programs. See how many seniors in Michigan are saving their home and assets...
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Planning for Your PetsPets can be as important to us as any family member. They are there as we celebrate our lives and serve as devoted companions. For those pet owners who are planning for their estate, there is also the consideration of how their pet will be cared for in the event of their death. The good... Read More »
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No Uncapping of Taxes for Transfers by Michigan Lady Bird DeedThere has been lots of talk in the legal community about “uncapping” of real estate taxes. What is uncapping? Generally, whenever there is a “transfer of ownership” of real estate, the taxable value of that property “uncaps” in the year following the transfer to 50% of the property’s true cash value. In many cases, especially... Read More »
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There’s No Expiration Date on Entrepreneurship: The Joys of Starting a Business After You ‘Retire’As a nation, America is getting older. By 2030, 20% of Americans will be 65 or older. With people living longer than ever before and the baby boomers approaching retirement age en masse, older adults will continue to have a massive impact on the American economy at large. Normally, we think of seniors as people... Read More »
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Saving for Retirement: The Best StrategiesWhen you start working it can be difficult to fathom that one day you will be able to retire. While it may seem that retirement is many years away, for individuals in their 50’s and 60’s retirement can be a fast approaching reality. Ideally, people in this age group will have been preparing for retirement... Read More »
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An Education in Estate PlanningEducation is one of the most important aspects of estate planning. Families come to us with many questions about “what’s next,” or they simply want to know where to begin when it comes to estate planning. One of the biggest things we educate our clients on is the importance of updating their estate plan. This... Read More »