Facing charges over unpaid child support can be a daunting and overwhelming experience. It is important to understand the legal implications and consequences of not meeting your child support obligations. If you owe back support, you should go over the potential...
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What can someone do to shorten probate?
When a loved one passes away, navigating the legal process of probate can feel like too much to handle. Probate is the court-supervised process of distributing a dead person's assets to their heirs. However, it often involves lengthy delays and expenses. Fortunately,...
3 ways estate planning can minimize probate hassles
Planning for the future is an act of love and consideration for loved ones. Regarding estate planning, taking steps to minimize probate hassles can provide peace of mind for everyone involved. 1. Clear and specific beneficiary designations One effective way to...
Singles still need an estate plan
In Michigan, estate planning is essential to an overall financial plan, regardless of your relationship status. A single person with no heirs may think they do not need a will, but if they die without one, the state decides who gets their assets and in what order....
How do you choose an executor for your Michigan estate?
When it comes to estate planning, the most important decision you will make is who will be the executor of your estate. This person will be responsible for distributing your assets according to your wishes. Michigan does not have strict rules when it comes to an...
Unique types of trusts
A Michigan resident might form a trust during estate planning. The trust gives a third party (the trustee) the right to hold assets on behalf of one or more beneficiaries. When the time comes, the trustee distributes the assets as instructed by the trust. The purpose...
What should you know about LLC agreements in Michigan?
The state of Michigan does not require your company to establish a Limited Liability Company (LLC) agreement. However, many companies establish them as part of their business formation due to their effectiveness as a governing tool. Purpose of an LLC agreement...
Five estate planning mistakes to avoid
Michigan residents sometimes make mistakes during estate planning. It's important to approach planning your estate with care and diligence. Below are five common mistakes that occur. Breakdown in communication You might tell your heirs how you plan to handle planning...
An expert’s guide to purchasing commercial real estate
If you're a Michigan investor, you may want to consider expanding your portfolio by investing in property. Many investors earn an incredible living by buying commercial real estate. Before you begin the purchase process, it's good to know what to expect. Buying...
A trust to protect your loved one with disabilities
If you have a Michigan loved one with special needs, it is important to plan for their future. One of the best ways to do so is by creating a special needs trust and naming them as a beneficiary. Understanding a special needs trust This is a type of trust created...