People often ask if they need to wait until after a decedent's estate closes in order to sell the deceased loved one's house. This is a common misconception and nothing could be further from the truth. The sale process may be completed while the estate is open.When a...
As many Michigan readers know, estate planning is often associated with people who are wealthy or possess valuable assets. In reality, an estate plan is a practical and beneficial step for people of all income levels. Anything that a person owns, including vehicles,...
Having an estate plan in place long before it is needed is a responsible step most people take the time to make. However, there may still be room for mistakes or mishaps even after a person has had an estate plan drafted and put into effect. By drafting a...
It is wrong to assume that only married couples with children and a significant amount of assets should worry about creating an estate plan. Any single adult who has assets in his or her name needs to ensure an estate plan is in place, and the plan needs to reflect...
All estate plans are highly personal, yet many people fall prey to the same common mistakes when drafting their plans. By being aware of the most common mistakes found in estate plans, Michigan families can prevent those mistakes from causing problems after loved ones...
An individual or family may work for years or even generations to establish a successful small business. If the owner or owners fail to have a comprehensive and smart estate plan in place early on, that small business can be at risk for failure in the event that an...
As the baby boomer generation enters the realm of retirement, there are other needs that may be left unchecked. An estate plan and what to do in the event of incapacitation may be one area where baby boomers in Michigan have failed to be proactive. If one has not been...
The role technology plays in daily life is ever-expanding for the average American. When a Michigan resident or family decides to venture into the task of creating an estate plan, digital assets may need to be addressed as part of that plan. Regardless of how vast a...
When a family member decides the time is right to being to the process of estate planning, including the appointing of trustees and heirs, the act of broaching the subject can be a little tricky. Each family is vastly different, and, therefore, the best way to go...
When an estate plan is mapped out and put into motion, the duties of those involved should be clearly outlined and defined, preferably before attending to those duties is necessary. Knowing what role a person is accepting is as important as acting as an estate...
