Estate Planning

We do not all retain our physical and mental faculties until our dying day. Many people, even those we love, develop a physical or mental illness that renders them incapable of making informed decisions regarding their care. In Michigan law, this condition is referred...

Life insurance policies are a popular way to pass a significant amount of money on to your heirs, while protecting them from certain costs associated with a large inheritance. Life insurance policies avoid probate, which can be expensive, but is there a way they can...

Wills are a key part of estate planning. A will is a great way for someone to clarify what they would like done with their property after they die. Having a will can prevent disputes and help avoid the probate process, which can be long, costly and complicated. But...

You may think the importance of estate planning is limited to protecting your loved ones and minimizing taxes. But a properly executed estate plan is also about protecting the estate’s assets from lawsuits and creditors as well. It would be awful to spend all that...

We all know that many do not have an estate plan. Indeed, recently (2021), Caring.com surveyed adults, and they found that only about a third of adults even have a will. This means that even fewer of us have an incapacity plan. Some may not even know what an...

Your estate plan should be tailored to suit your needs and your vision for the future. In order for you to create that kind of plan, though, you have to know what you want and the estate planning vehicles that can get you there. Figuring out both of those things can...

However, a frequent mistake many Michigan residents make with their estate plans is failing to update their wills after they go through big changes in their lives, such as the birth of a child or grandchild. It may be crucial if after a new marriage. Why might a will...

As the saying goes, there are only two guarantees in life and those are death and taxes. While people are taxed on various items throughout their lives, they could also be taxed at their death as well. These types of taxes are known as estate taxes and are generally...

No part of the estate planning process is one-size-fits-all, and that includes selecting an executor. The role of an executor, sometimes known as a personal representative, can be challenging. When people write their wills and other estate planning documents, it's...

Many people in the greater Detroit area have made their fortunes through the area’s automobile industry. For example, there are those who may work in a well-paying job for a major automobile company or another big player in the industry. Others may have an ownership...