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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Are You Experiencing “Encore Adulthood”?As the Baby Boomer generation ages, the cohort is finding itself in a brand new position. Boomers are reaching retirement age but not retirement mindset. Whether because of financial necessity, an energetic spirit, a simple desire to keep working, or something else, people are continuing to remain in the workforce for years beyond typical retirement age.... Read More »
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A Gray Area: Navigating the Reality of “Gray Divorce”The decision to end a marriage after many years is never an easy one. After decades together, some couples simply grow apart or struggle with bouts of infidelity. There are many reasons why couples over 50 choose to divorce, and things can be extra complicated in this type of divorce, also known as “gray divorce.”... Read More »
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The Health Care Durable Power of Attorney: What You Need to Know.Few of us have not heard the term medical power of attorney. These documents are usually brought up by hospital staff when a loved one or we are about to undergo a medical procedure. While most people are reticent to consider what may go wrong while they are not able to make decisions, these directives... Read More »
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Couple Donates $10 Million Insect CollectionRetired couple has donated their expansive insect collection to Arizona State University's entomology department, along with an endowment of $2 million.
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The Responsibilities of the Personal Representative of Your EstateMany people are named the personal representative of a loved one’s estate by virtue of the fact they are a close relative such as the adult son or daughter of the person making the will. While the person named is most likely someone the person making the will trusts, the named personal representative may not... Read More »
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Burial Policies: What You Need to KnowFuneral expenses are not always something most people want to consider. However, given that the average funeral can cost more than $10,000.00, it is worth taking into account how this expenditure will be paid. There are essentially three options: 1) leave the matter for your family to pay for from your estate or their own... Read More »
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When it is Time to Change Your Power of AttorneyTwo critical pieces of any estate plan are the powers of attorney for medical care and for finances. These designations are essential because they allow you to name the person you want to make choices about these subjects for you if you become incapacitated. After they are designated, the people in these roles will have... Read More »
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What is a Michigan Domestic Asset Protection Trust?A concern of anyone with creditors is that something may happen in their lives or to their business which will leave their personal assets depleted. Until recently, Michigan residents did not have many ways to protect themselves from such an occurrence. However, recently Michigan joined a growing number of states which allows domestic asset protection... Read More »
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What is a Portability Election and How Does it Relate to You?As married couples plan for their estate there is a concern that what they have will be taxed by the IRS leaving little for their surviving spouse and beneficiaries. In many cases, the estate will not be large enough to be taxed. However, for those estates whose value exceeds a certain amount, the Portability Election... Read More »
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Do I Need to Include a No-Contest Clause in my Will or Trust?Most people know someone who has had to endure conflict surrounding the distribution of a deceased loved one’s estate. Unfortunately, whether its relatives laying claim to family heirlooms or siblings feuding over real estate, things can get nasty even in the most amicable families. One way to prevent this kind of fighting is to include... Read More »
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Legacy Trust and Your FamilySomeone preparing an estate plan often wants to designate that certain funds, possessions, and resources be passed on to family members. When there are significant assets, the individual may wish to leave their estate in a manner which can continue to generate income and increase in value for the benefit of their family continually. In... Read More »
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How To Make a Will Legal In Howell, Michigan?Will lawyers in Howell are privileged to work with all kinds of families in order to plan for and protect their futures. There are many tools that can be used to this end. Probably the most common (and most basic) of them all is the will. We’ve all seen the dramatic readings in movies and... Read More »