The end of the year is a great time to review your current estate plan to see if changes are in order, whether due to changes in your tax situation, your asset values, your appointed fiduciaries, your
Yes, testamentary trusts are still around in Michigan these days although they are not as common.
Setting Up a Trust During Your Lifetime or Upon Your Death
A testamentary trust is dormant and does not spring into existence until you die – it is created under
A Michigan Certificate of Trust Existence is not always required, but I always prepare them for clients who set up a Trust. If you set up a Trust, you will want to “fund” it with certain accounts or assets into
For many of you, open enrollment for your 2018 employee benefits starts on November 1. This is a good time to review and make sure the beneficiary designations for all of your payable-on-death (POD)
In general, no. When a beneficiary of a life insurance policy receives the death benefit, it’s not counted as the beneficiary’s taxable income. So if you died leaving a $500,000 death benefit from your policy,
It is already the end of September, which means it’s time for all things Pumpkin….and to get a head start on your estate planning needs!
Estate planning is most certainly not on most millennials’ radar. It is just not “sexy” enough to think about now. Most people assume you don’t need to think about estate planning until they are in their
I have talked about this before here, but this coming week is the start of school for many college students so this is a friendly reminder for parents of college students to keep this on their radar. They
It still isn’t clear whether Trump plans to follow through on one of his [empty] campaign promises of eliminating the estate tax. The estate tax was actually repealed for one year in 2010 and then