Galloway and Collens, PLLC
248-284-1990
248-284-1990

Estate Administration Archives

Simple mistakes can lead to chaos for an estate plan

Many people might not give too much of their time and energy to thinking about the estate planning process. However, having a comprehensive estate plan long before it is needed is the best way to ensure that a Michigan family is properly cared for. However, if an estate plan isn't updated or adjusted as needs arise, it can be just as useless as not having one at all.

Estate plan of The Velvet Underground's Lou Reed made public

Whenever a celebrity dies, the news is typically flooded with every last detail of their demise. Then, details about the value of their estate may be made public also. One way to avoid having these details made public is for celebrities or others who have a high value estate to have a trust created rather than a will. Anyone in Michigan who is concerned about their estate plan may want to learn more about the difference between a trust and will and why some think Lou Reed handled this issue wrong.

Importance of choosing the right executor


Many people may think that if they have completed a comprehensive estate plan that once they die things will be taken care of for them. While estate planning is very important, an estate administration process will still be necessary following a Michigan resident's death.

What are the responsibilities of a Michigan executor?


No matter how big an estate a person leaves behind when they pass, some issues will need to be attended to. There could be bills to pay and assets to sell or give away. Rarely, do people have zero estate administration issues following their death. In order to deal with these issues, Michigan residents need to create an estate plan. This plan, which will likely include a will, can handle all foreseeable estate issues. Part of this plan should also include naming an executor of the estate.

Relatives say hospital coerced millionaire woman out of her money

Heirs of a millionaire are suing the hospital that took care of her for the last 20 years of her life, alleging that the facility overstepped its bounds to get money before her death and to be included in her will. Relatives say the case, which has garnered international attention, is not just about getting their money. It's about inappropriate behavior, including medical professionals who coerced an ill woman into giving them money, the family says.

Interweaving estate planning and business succession in Michigan

If you own a successful business in Michigan, no matter what your age is, it's time to start thinking about passing the business on to your successors. Many admirable entrepreneurs are so immersed in business operations that they become in large part defined by decisions related to the company, so it becomes difficult to let the business fall under the control of other parties, even if they're family members.

Mickey Rooney has new conservator following abuse allegations

In our last post we discussed the importance of making plans for the end of your life -- both death itself and the years leading up to it. As we grow elderly, we become much more vulnerable. Our bodies don't work as well and we may have a difficult time keeping track of personal and business affairs. Choosing a trustworthy power of attorney, conservator or estate administrator can provide some extra peace of mind as the ability to make complex health care or estate decisions gradually diminishes.

Rare half-cent coin hidden for 50 years sells for $357,000

High-value assets can be good investments. However, passing along such assets to family members or beneficiaries is not always simple. When a person dies, an inventory must be made of both debts and assets. Any debts must be paid before the intended recipients can inherit from an estate. Proper estate administration can help to handle the details of transferring ownership.

City inherits historic property, plans to auction it off

Working hard, saving and investing are good ways to prepare for the future. If those preparations include estate planning, someone will have to be in charge of handling the estate owner's assets after that person passes away. Estate administration can clear up any possible confusion over a deceased person's debts, tax responsibilities and asset distribution.

Michigan court denies benefits in frozen sperm case

The determination of heirs is not always a cut-and-dried process. When disputes arise, probate courts oversee estate administration and are often called in to determine how wills, estates and benefits will be divided amongst heirs. Those who are attempting to unravel the will of a deceased loved one should seek to understand how current laws and rulings may affect their cases.

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