When someone dies in Michigan, their estate must be administered. This process can be complex, and often requires the help of an executor. Who is an executor? An executor is someone who is responsible for managing the estate of a deceased person. This professional is...
Estate Planning
3 important inclusions for your Michigan estate plan
Your estate plan should be as customized as your wardrobe is. It needs to fit your unique needs and cater to your personal values. While generic documents can work for just about anyone, they won't protect you as well as something you customize for your specific...
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...
Using a living trust with an estate plan can be beneficial
If you're creating an estate plan in Michigan, you may want to utilize a living trust. This action is an excellent way to keep your assets out of probate, which can be a costly and time-consuming process. Choosing this option means you can have your estate managed by...
Involving all the family in estate planning
Adult children often take the lead in helping parents with estate planning. Parents often need help with estate planning but do not want to ask family members for help. Discussing end-of-life plans and wills is difficult for family members. Don't delay a conversation...
5 qualities of a good executor
Choosing an executor can be a daunting task. While your will can include multiple moving parts, finding a trustworthy individual who can act on your requests requires thoughtful consideration. You may love and care for your family. However, that doesn't mean all your...
Best Times for a Caregiver to Apply for Medicaid
You may be wondering when is the right time to talk to your loved ones about procuring Medicaid. If you live in the state of Michigan, you can get the details about this program from a local health care provider. This is a program that has been set up to meet the...
Creating a sound estate planning strategy in Michigan
An estate plan is a document that outlines your wishes for your property and assets after you die. Without a proper estate plan in place, the courts may decide what happens to your property, and this may not be what you want. The question is, how can you create a good...
3 common mistakes executors make
The loss of a loved one can be a devastating emotional time for the surviving heirs. For an individual identified as the executor, however, emotional turmoil can quickly turn into financial turbulence and family strife. Even for the well-intentioned, it can be...
Estate planning after divorce
All your attention during a divorce will likely be on the proceedings. However, once everything is final, you should then turn your attention to updating important estate planning documents. After all, you want to make sure your ex does not receive all your money and...