Throughout the aging process, it becomes harder for individuals to care for themselves. In many cases, the children or family members of an aging individual must establish a care plan that protects the safety and well-being of their loved one. An elder care plan will...
Estate Planning
What is the difference between a will and a trust?
Creating an estate plan is the best way to protect your assets after you are gone and ensure your family has everything they need. Most people begin the process with a will or trust. What is a will? A will is a legal document that specifically lays out your plans for...
Tips for helping an elderly parent find a good care facility
There are many options to consider when it is time to move a parent into a care facility. Finding the best fit takes time and is challenging if you do not know what to look for. Determine which facilities accept your parent's insurance or fit within their budget and...
How to avoid probate in Michigan
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....
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...
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...
