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,...
Estate Planning
Estate planning is needed to protect heirlooms
Every day, Michiganders enter the Michigan probate process. The outcome depends upon whether an estate plan was put in place. How probate can cause problems with heirlooms Probate is a legal process that an estate enters after a person's death. When there is no will...
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...
How to represent your parent’s estate
It's not uncommon for adult children to serve as a parent's executor. However, if you are asked to oversee your mother or father's Michigan estate, it's important that you understand what your duties are. It's also important to understand that you have the right to...
Standing in Michigan will contests
When someone dies and leaves a will that outlines how they want their assets to be distributed and the beneficiaries that should receive them, Michigan courts will generally accept the document as representing the decedent's wishes. In most cases, the probate court...
Estate planning considerations involving estranged families
Leaving assets and property to heirs can be a complicated process, especially if you have considerable wealth. Yet, it can become even more challenging if family members are estranged from one another. Estrangement from a child, siblings or other family members often...
How estate planning can help dentists protect their futures
Many people in Michigan visit dentists to receive needed care. Dentists spend a lot of time caring for their patients. However, these professionals must also take care of their estates. Estate planning for dentists involves completing several crucial steps. Protecting...
Lady Bird deeds and Michigan estate planning
A Lady Bird deed is an estate planning tool available to Michigan residents. Another name for this deed is an enhanced life estate deed. In addition to Michigan, the deed is available in Florida, Texas, Vermont and West Virginia. You should know a few things about a...
Mistakes trust fiduciaries should avoid
Trust fiduciaries manage and administer trusts on behalf of other people. To serve well as a trust fiduciary, it is essential to balance the financial interests of the trust with the wishes of the trust's beneficiaries. Furthermore, there are regulations to which all...
Benefits of setting up a Medicaid trust
A Medicaid asset protection trust (MAPT) presents an option to people hoping to shield their estates from the expenses of long-term nursing home care. As an irrevocable trust, the MAPT permanently shifts assets out of your control and into the management of the...