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Brown Borkowski & Morrow
  • Home
  • Firm Overview
    • Why Hire Us?
  • Our Team
    • Attorneys
      • Susan Leigh Brown
      • Thomas J. Borkowski, Jr.
      • Matthew N. Morrow
      • David James Eagles
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      • Sara Gorman Rajan
    • Support Staff
  • Practice Areas
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A GREAT LEGAL TEAM TO GUIDE YOU

What is a durable financial power of attorney?

On Behalf of Brown Borkowski & Morrow | Mar 6, 2015 | Estate Planning |

A durable power of attorney is a legal way to allow a person to make financial decisions for another person in the event that the other person becomes incapacitated or does not have the ability to make those types of decisions for him- or herself. This type of power of attorney is granted in the form of a document and, if needed, can show others that the person handling the other person’s affairs has the legal authority to make decisions on that person’s behalf.

Although the person holding the durable power of attorney is allowed to make financial decisions on the other person’s behalf, they are not allowed to do whatever they want to do with the money or other assets. Instead, they must always act in the best interests for the other person. When doing so, they may pay bills, make investments, manage real estate investment, pay taxes and assist with financial accounts.

In addition to having a durable power of attorney for finances, the person may wish to have a medical agent that is responsible for deciding on his or her medical care. If this is not the same person that handles both, however, there is always the potential for the two to disagree over the person’s medical care.

It is important to note that upon the death of the individual, the durable power of attorney ceases to exist and the document is considered extinguished. At this point, if a will has been made, the executor of the will then becomes responsible for dealing with the person’s financial affairs after his or her death.

Understanding how a durable power of attorney works can benefit individuals who are concerned about their financial future in the event they become unable to handle their financial matters themselves.

Source: FindLaw, “Durable Financial Power of Attorney” accessed Mar. 06, 2015

Key commercial lease clauses Michigan business owners must know

On Behalf of Brown Borkowski & Morrow | Jun 6, 2025 | Real Estate Law

Leasing commercial space is an important step for your business. Before signing, make sure you fully understand what you are agreeing to. A commercial lease is a contract that can affect your establishment for years. The terms can increase costs, limit your options or...

No will? What parents should know about their children’s future

On Behalf of Brown Borkowski & Morrow | Jun 4, 2025 | Estate Planning

If something happens to you tomorrow, will your children be in good hands? Estate planning may sound like a lot of work, but more than anything, it is an act of love and responsibility. It is about protecting your children’s future, ensuring their best interests long...

Probate vs. non-probate assets: What is the difference?

On Behalf of Brown Borkowski & Morrow | Jun 2, 2025 | Estate Planning

When someone passes away in Michigan and there is no will in place, their representative settles their estate according to probate laws. An essential part of that process is understanding the difference between probate and non-probate assets. Knowing what does and...

What is Michigan’s law on tenant rights and eviction?

On Behalf of Brown Borkowski & Morrow | May 20, 2025 | Real Estate Law

If you're a tenant in Michigan, understanding your rights is essential. Tenant rights laws are designed to protect you from unfair treatment and ensure that landlords uphold their responsibilities. In Michigan, there are rules that govern the landlord-tenant...

What is a special needs trust?

On Behalf of Brown Borkowski & Morrow | May 16, 2025 | Estate Planning

A special needs trust helps ensure that your loved one with disabilities receives the support they need while protecting their eligibility for government benefits. These trusts are specifically designed to preserve access to programs like Medicaid or Supplemental...

How is business debt handled during a divorce?

On Behalf of Brown Borkowski & Morrow | Mar 21, 2025 | Family Law

Going through a divorce is challenging, especially when you own a business. Business debt can complicate the process, and understanding how you’ll handle it can make a difference in your settlement. If your business has debts, it’s important to know how those...

How can companies prevent IP theft in the digital world?

On Behalf of Brown Borkowski & Morrow | Mar 7, 2025 | Business & Corporate Law

Businesses use intellectual property (IP) to stay ahead of competitors. IP includes copyrights, trademarks, patents, and trade secrets. These protect creative work, brand names, inventions, and private business information. In today’s digital world, it is easier than...

How does the bundle of rights affect property ownership?

On Behalf of Brown Borkowski & Morrow | Feb 20, 2025 | Real Estate Law

Property ownership includes more than just having a physical structure or land. The "bundle of rights" is a legal concept that explains the different rights attached to real estate ownership. These rights allow owners to use, transfer, and control their property in...

How does Michigan law address parental relocation?

On Behalf of Brown Borkowski & Morrow | Feb 6, 2025 | Family Law

Parental relocation can be a challenging issue after a divorce or custody order. Michigan law has specific rules to ensure that moving does not negatively affect the child’s relationship with both parents. If you share custody and want to move, you must follow legal...

What should seniors know about Medicaid’s look-back period?

On Behalf of Brown Borkowski & Morrow | Jan 23, 2025 | Elder Law

Understanding Medicaid’s look-back period plays a critical role in planning for long-term care. This policy directly affects eligibility for financial assistance with nursing home expenses. Proper planning avoids costly mistakes and ensures access to necessary care....

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Recent Posts

  • Key commercial lease clauses Michigan business owners must know
  • No will? What parents should know about their children’s future
  • Probate vs. non-probate assets: What is the difference?
  • What is Michigan’s law on tenant rights and eviction?
  • What is a special needs trust?

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Brown Borkowski & Morrow
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Farmington Hills, MI 48331

Ph: 888-757-1681

Farmington Hills Law Office
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