The task of creating a comprehensive estate plan can be overwhelming and confusing for some. Breaking up the creation of an estate plan into steps is recommended as a way to tackle the process and ensure it is done correctly. Similarly, it is important for Michigan families to weed out steps that may not apply to them and focus on those steps that do.
Location of chimney touches of potential real estate litigation
In urban areas where buildings are in close proximity, shared space or attached elements of a building may be a source of contention or even possibly a legal dispute between building owners. For one pair of building owners in another state, the location, condition and purpose of a newly discovered chimney has caused some strife. Shared urban spaces in Michigan could also be a source of possible contention between building owners, and that contention could even lead to real estate litigation between property owners.
Will challenge unfolds after politician's mom passes
While the importance of drafting a will can't be overstated, there are incidents where the presence of a will does nothing to stop family disputes from unfolding after a death. This can be true especially between children after the death of a parent in Michigan. A recent will challenge is making news as the former mayor of the nation's capital is caught up in a family dispute after the death of his mother.
Single Michigan residents should consider estate plan needs
Some people may wrongfully assume the estate planning process is for families with children or couples with valuable assets to divvy up or protect for the other party's future. Everyone, particularly single Michigan residents, needs to ensure that a proper and well-thought-out estate plan is in place as soon as possible. Single people may be at a greater risk of seeing assets distributed in a manner in which they would not approve.
Dramatic rent increase results in landlord/tenant dispute
Rental amounts can naturally be a point of contention for landlords and tenants. When an agreement is reached and a lease signed, there are rarely disagreements that lead to legal intervention. However, when one party feels the other has acted unfairly, a landlord/tenant dispute can erupt and lead to the necessity of legal intervention. Michigan renters and landlords may want to follow the story of a woman who posted the details of a rent dispute on a social network, drawing both sympathy and scorn.
Trust management depends on picking right trust for your needs
A trust can be an essential tool for the estate planning process. Once you have decided that leaving funds to beneficiaries through a trust is wise, your trust management options may hinge on the type of trust you decide to create. Trusts can meet varying needs, which makes understanding the different types available imperative for Michigan families. This requires being fully aware of your objectives and what exactly you want for those left behind.
