If you are named an executor of a will in Michigan or are trying to choose the executor for your own estate, then it helps to learn about the duties this position holds. An executor is an important person in the estate process that occurs after the death of the estate...
Estate Planning
Why an estate plan is important
Although there is no legal requirement to create an estate plan, neglecting to do so can result in a variety of problems. Not only can this impact you while living, but it can also do the same to your loved ones upon your death. Fortunately, once you understand the...
Name the right guardian for your children in your estate plan
When estate planning, it's easy to focus so much attention on your assets that you overlook details that are every bit as important. For example, you must name a guardian for any children under the age of 18. This is a big decision, as this person will be responsible...
Estate planning tips for avoiding Michigan probate court
People choose to plan their estates for their own unique reasons. Some people have significant assets and strong desires to see them allocated in specific ways. Other people may want to help their family members avoid estate taxes due to the size of their estate. For...
It may be time to review and alter your estate plan
When you create an estate plan, do so with the idea that you'll have to make changes in the future. This guarantees that you're always on the lookout for any changes that will benefit you and your loved ones. You have the final say in regard to when you review and...
Tips for choosing the right executor
When creating a will, there will come a time when you have to choose an executor. This is the person who will review your will, enter it into probate and ensure that everything goes as you have planned. Choosing the right executor is easier said than done, especially...
When estate planning, consider the benefits of a living trust
When creating an estate plan, many people assume that a will is all they need. While it's okay to rely solely on a will, you don't have to do this. You can partially replace your will with a living trust, which will bring additional benefits to you, your family and...
Durable financial power of attorney: What can your agent do?
When creating an estate plan, it's important to think about what would happen to your finances if you were to become incapacitated. If you're unable to make your own decisions, you want to know that someone responsible can step in and do so on your behalf. A durable...
Steps to creating your first estate plan
There will come a time when you decide to dive in and create your first estate plan. Even if you waited longer than you should have to do this, you're now faced with the process. There are many steps that will put you on the right track to creating your first estate...
Comparing wills and trusts
The public has a general understanding of both wills and trusts, but it is mostly gathered from the way that films and television shows talk about them, not from any personal experience with these legal tools. While both wills and trusts are an essential part of most...