When a person dies, the court supervises the distribution of assets and settlement of taxes and debts. This process, called probate, can be lengthy and expensive. These estate planning strategies can help your beneficiaries avoid the probate process in Michigan....
Year: 2021
3 mistakes made by applicants of SSD benefits
For disabled workers and their families, Social Security disability (SSD) benefits represent a crucial way to financially carry on with their lives as best as they can. Granted, they will not receive the same amount of money that they would have if the main income...
Can you qualify for Social Security Disability Insurance with a mental illness?
Social Security Disability Insurance is a federal assistance program that provides benefits to people with medical conditions that restrict their ability to earn income. This government program views mental disorders the same as physical impairments. You may qualify...
Your SSD application, medical records and the RFC forms
If you have decided to submit a claim for Social Security Disability (SSD) benefits, you will need to become familiar with the application process. The Social Security Administration (SSA) will want to see proof of your disability. They can access your medical...
What is a ladybird deed?
The court divides a person’s property between their heirs when they pass away. This process is known as probate, and it is time-consuming and expensive. However, there are different methods for transferring a deceased’s property to their heirs without going through...
When should I name a new executor for my estate?
Choosing an executor for your estate represents one of the more important decisions in the estate planning process. The right person for this important and time-consuming role must have the patience, availability, willingness and financial savviness to perform the...
What assets can you keep if you file for bankruptcy in Michigan?
When you file for bankruptcy, you can keep certain assets designated by law as exempt. Michigan residents can choose between the state or federal bankruptcy exemptions. Review the types of property you can retain if you live in Michigan and decide to file for...
How do I know I qualify for Social Security disability benefits?
Each year, roughly 2 million U.S. workers apply for Social Security disability (SSD) benefits. Whether physical or mental, their impairment – which can range from arthritis and heart failure to cancer, depression and autism -- prevents them from working for at least a...
How does the probate process work?
Many people do not understand what happens to a loved one's assets and debts after he or she dies. Between the issuing of the death certificate and the reading of the will is the probate process. Learning what to expect can help families to have realistic...
Are student loans dischargeable in bankruptcy?
For many people, financial peril is only one small emergency away. Job loss, reduction in hours, divorce or medical bills can quickly upset a delicate financial balance. Most often, individuals will continue to fight against the mounting debt to work through their...
