Estate Planning

An estate plan involves the use of legal instruments such as wills and trusts to distribute the assets of an estate. Many families are blended from more than one biological family, so estate planning often involves stepchildren. Readers in Oakland and Mccomb counties will want to learn more about planning

For many people in Macomb County, drafting a will represents a real opportunity to give something back to the community they care about. Early on in the estate planning process — or even before it begins — some individuals define a number of entities or organizations they want to help.

Planning for inheritance and estate taxes is essential to ensure that your loved ones and beneficiaries receive the maximum amount of your assets when you pass away. Estate planning relies on careful knowledge of both tax implications and existing laws that can affect the value of an inheritance. Those looking

There are many Michigan residents who have favorite charities. Maybe it is a charity that provides support and research to patients battling certain illnesses, like cancer or heart disease. Or, maybe it is a religious congregation that one feels particularly connected to. According to Charity Navigator, charitable bequests — meaning

An estate plan provides guidance to families going through a difficult time. Sometimes, serious illnesses or injuries can occur without warning, leaving once-healthy people unable to state their final wishes. An effective estate plan will save grieving loved ones the added stress of figuring out the wishes of the deceased,

The expiration of the Bush tax cuts in 2013 has left many Michigan residents wondering what the future holds for federal estate tax exemptions. If Congress is not able to work out a deal with regard to these exemptions, the inheritance tax implications are going to affect many estate planning

Estate planning requires the use of legal instruments, such as wills and trusts, to implement an individual’s wishes after they die. It’s a very important consideration in a person’s life, but a recent study by Fidelity Investment shows many parents do not discuss their estate planning needs adequately with their

An estate plan generally uses a variety of legal instruments, including wills and trusts, to distribute assets after a person dies. The pending estate tax code changes on these assets can have a profound effect on estate planning strategies for many Michigan families if Congress chooses to let them expire.

Many Michigan residents may have an IRA that they wish to leave to their spouse or a child once they pass on. However, without proper planning, much of this inheritance could be lost to taxes. Anyone with an IRA who is in the process of estate planning should understand how

Estate planning can be a complex process, and when the assets involved in an estate are of high value, it’s especially critical to understand all the ways taxes can affect one’s estate. That’s especially true as 2012 comes to a close, because major changes in gift and estate laws for

As discussed in last week’s post we will continue this week on the importance of remembering digital assets in estate planning activities. Many in Michigan and elsewhere spend a good portion of their time online performing a variety of activities from gaming to investing and sharing photos. In doing so

Welcome to the digital age where we now have to consider such mundane things as our Facebook login credentials in our estate plan if we want our loved ones to have access to it upon our passing. Many Michiganders often forget about digital assets when planning their estate, both non-financial

Oftentimes when a child turns eighteen in Michigan and elsewhere it is not considered a major deal, except to the child maybe. But did you know that once your child turns 18 years of age you could be kept out of certain decisions regarding their healthcare, among others? Without a

The State Bar of Michigan is planning on holding estate planning seminars this week in western Michigan with the goal of arming senior citizens with as much estate planning information as possible in the one-hour sessions. The five sessions are part of a total of 28 seminars that will be

We have all heard or read about stories in Michigan and elsewhere involving families in disputes over a relative’s death and what he or she would have ‘wanted.’ Without a solid estate plan, including a will or trust it can be difficult to know, let alone prove in probate court,

Nobody really knows how long they have left to live, but using one or more of the online actuarial calculators could give you some insight into how you should go about setting up your retirement and estate plan. Retirement planning, estate planning and elder care planning can go a long

When establishing an estate plan it is important to determine how you own something, such as an investment account, real estate property or even a checking account. Consider the example of a couple who brings not only separate property to a second marriage, but children as well, like many blended

You don’t need to have a massive fortune on the scale of Bill Gates or Warren Buffet to benefit your retirement while planning for the future of your estate. For Michiganders thinking about retirement, most likely the kids have grown and you are decades away from end of life issues

As discussed in last week’s post, if your parents do not yet have an estate plan in place consider discussing the possibilities during the month of May. According to the Alzheimer’s Association, in the United States more women than men have the disease or some other form of dementia. So

This Mother’s Day, Michigan residents should consider a rather unorthodox, yet very important gift and that is the peace of mind that comes when you and your mother know the family will be taken care of when the inevitable occurs. Estate planning can be one of the most important gifts

As discussed in last week’s post, what happens to your debt when you die depends on a number of factors, including the type of debt it is, whether it is secured debt, such s a home or vehicle, and the name on the title of the property securing the debt.

Disagreements are a normal part of family life; however there comes a time when you want to document your decisions regarding the person you trust the most to handle your estate and make certain decisions on your behalf should you become unable to communicate your wishes. And, in some cases

Anytime someone dies prematurely there is sadness and grief for all who lost a loved one. What may compound that grief is the lack of an estate plan that can provide guidance for the survivors to follow their loved ones wishes. Whenever a celebrity passes away prematurely it can be