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...
Estate Planning
How can you avoid probate?
During the estate planning process, you will likely have concerns about how your assets will disburse. If you pass them on through your will, they must go through probate court before your beneficiaries can receive them. Due to the fees involved, probate can diminish...
Is a special needs trust right for your family?
If someone in your family has a disability, he or she may be incapable of working. Fortunately, government assistance programs may provide medical care, basic income or other support. Public programs do not usually offer much else, unfortunately. Special needs trusts...
The process of choosing an executor
One of the most important decisions a person can ever make is naming an executor in his or her will. The executor is responsible for managing the estate after the death of the person who made the will, also known as the testator. The responsibility for managing the...
Evaluating estate tax planning strategies
As you begin the estate planning process in Michigan, you quickly notice that one of its main purposes is to help you optimize your plans in order to ensure that as much of your accumulated wealth as is possible passes on to your beneficiaries. Yet many of those come...
What red flags indicate undue influence?
As a resident of Michigan, you must rely on your loved one's estate plan to know what their wishes are after their death. In most cases, the estate plan is the perfect window into your loved one's wants and needs. But sometimes, an estate plan or will gets written...
Estate planning after a second marriage
When thinking about estate planning, most people with children and grandchild feel good about leaving these family members a treasured legacy. This may include special heirlooms handed down through the generations or financial assets. Estate planning after remarrying...
What to consider before choosing an executor or saying yes to being one
An important part of estate planning is choosing an executor to oversee everything in the event of death. The role is nothing to take lightly, so it is a good idea to consider different factors before naming one. Because the role of executor is demanding, it is also...
What is an advance health care directive?
If you have definite preferences as to the kind of health care you do and do not wish to receive when you become seriously ill, injured, incapacitated or reach the end of your life, you may wish to consider creating an advance health care directive. As the Mayo Clinic...
How a Ladybird deed works
Estate planning in Michigan is a process every adult should undertake. Delineating where things go after your death may keep your family from facing a prolonged probate process. When you own property, using a Ladybird deed may work in your favor. While the name may...
