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...
Estate Planning
How can I select the best executor for my estate?
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...
Basics about trusts as part of an estate plan
Most people who are getting ready to wade into the waters of estate planning have more questions than answers. This is understandable, since there are numerous different options available for any given person who wants to craft a solid, comprehensive estate plan....
Why you need to be careful estate planning in a blended family
On its face, estate planning can seem relatively straightforward. But this is a dangerous assumption to make. In fact, those who mistakenly think that their estate plan is simple often procrastinate putting one together, which can spell all sorts of trouble later....
What are the documents should I include when setting up an estate plan?
When you decide to set up your estate plan, you may not know where to begin. The options may seem overwhelming. In this post we will discuss some of the most important documents in any estate plan: There are four common and important types of documents in estate...
How can I avoid probate in Michigan?
When a person in Michigan dies with a will, that will must go through the probate process before the heirs can receive their inheritance. Probate is also necessary if a person dies without a will. Probate can be time-consuming, costly and the probate proceedings...
Mental capacity in the creation of a will
Practically any adult can benefit from having an estate plan in place. That is because Michigan residents cannot predict what will happen in the future. Though many will live long and healthy lives, others may face challenges that take their lives down unexpected...
How can I talk to my parents about estate planning?
Over the past two years or so, estate planning has become a hot topic, but for some, if not most, estate planning is still just on the to-do list. However, for our aging parents, the need to estate plan gets more urgent with every passing day. It is a hard...
Estate planning for small business owners
Owning your own small business in the metro Detroit area can be a source of pride and can be a lucrative endeavor that you want to pass on to your heirs or business partners. There are steps you can take in the estate planning process to ensure your dreams for your...
What happens to my affairs if I become incapacitated?
Estate planners may wonder what happens if they become incapacitated and if an estate plan can help them plan for that situation. An estate plan can include a plan for incapacity which will help the estate planner prepare for a situation when they are incapacitated....
