Estate Planning

Michigan residents can learn from estate plan mistakes

No plan is fool-proof, including an estate plan. While a vital process for any adult in Michigan, there are mistakes in the estate planning process that can truly disrupt or paralyze a person’s efforts to have his or her wishes honored after death. Several recent celebrity deaths and estate planning

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Reproductive science may play role in estate plan

An estate plan is a highly personal journey for most families. Most people don’t think of the role science may play when they are creating an estate plan. Reproductive science and changing families are playing a role in how the average Michigan family may choose to pursue the creation of an

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An estate plan is a smart New Year’s resolution

When people sit down at the end of the year to evaluate their lives or decide on resolutions, creating estate plans may not automatically come to mind. Even so, the New Year is the perfect time to take stock of assets, funds and life choices and to create an estate

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An estate plan should reflect a family’s unique situation

The day of the traditional family being the majority may be coming to a close. Today, American families come in all sorts of varieties and combinations, and an estate plan should reflect the individuality and uniqueness of a family in today’s modern world. Michigan families may want to consider the

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Digital assets need to be included in an estate plan

As the world changes and technology evolves, that technology needs to be dealt with in ways that some innovators may have never imagined. One area of concern when it comes to technology is how digital assets are handled when a person passes. Because of how much the Internet has permeated

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Beware of loss of control in an estate plan

Creating an estate plan can be an overwhelming and emotional journey. For some, outlining the division of assets or funds can pose unique complications. Anyone in Michigan who is involved in creating an estate plan may want to carefully consider his or her options before relinquishing control of any aspect

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Proactive tips for an estate plan in Michigan

Creating an estate plan typically involves drafting, signing and filing a few key documents. While this is an important part of the process, there are other recommended steps for creating an estate plan. Michigan families may be interested in the following tips and ideas, if they are in the midst

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An estate plan for single parents should be done early

There are many challenges that come with being a single parent. A single parent may find him or herself in a situation where he or she is solely shouldering the burden of ensuring a stable financial future for his or her children. Michigan single parents may want to stop and think

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Tips to not let an estate plan go horribly wrong

When the time comes for a family, couple or an individual to set up an estate plan, that party or parties may have very clear ideas about what they want to happen or what they foresee the situation to be. Nevertheless, most Michigan families realize life circumstances and family changes

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Potential pitfalls of not making an estate plan

No one likes to think about needing an estate plan. An estate plan essentially forces a person or family to think about their mortality or the mortality of a loved one. However, not planning accordingly or not being prepared can be costly to loved ones and can also leave more

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Michigan residents may want to consider a trust fund

Michigan residents who are looking to begin the estate-planning process may be a bit overwhelmed by the different documents that they may be able to set up. Many individuals are aware of how a will works and may believe that this document is the most important one. While individuals should

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College Savings accounts a good estate plan option

Parents and grandparents are always looking to make preparations for providing for the next generation. One of the most pertinent concerns families in Michigan have is saving for college for their children and grandchildren. A parent or grandparent may want to consider incorporating a 529 college savings account in his

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Things people get wrong when preparing an estate plan

The process of creating an estate plan may seem like a cut and dried kind of endeavor. However, there are aspects of an estate plan that people commonly get wrong or disregard altogether. It is important for Michigan residents to understand the mistakes of others to ensure they are on

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A special needs trust may be ideal for some situations

Families can be complicated, and the individual needs of family members or other beneficiaries may be just as complicated. This means that each family may have specific and very different needs as they move forward with the estate planning process. For some Michigan families, the creation of a trust, specifically

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Estate plan needs vary for childless couples in Michigan

Oftentimes, when people think about beneficiaries of assets and funds, they may automatically think about parents leaving an estate to be split between children. However, for Michigan couples and individuals without children, the process of crafting an estate plan may be slightly different. It may require some more thought regarding

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Finding out more about a trust is important

There are many options for estate planning and no one plan will work for everyone. However, regardless of the size of the estate, a trust may be a good idea to consider. For anyone in Michigan who is venturing into estate planning, learning about the different types of trusts can

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Drawing up a will could alleviate future stress in Michigan

Broaching the topic of estate planning can be somewhat uncomfortable for many people. However, it is better to have these plans in place long before they are needed in order to ensure that end-of-life decisions are handled accordingly. Estate planning covers various subjects from creating a will to appointing a

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