Some people may be able to structure all of their assets without the need for a Revocable Living Trust and still avoid Probate in Michigan. For your financial accounts, the best way to accomplish this is to make sure these
This is a common question that many clients have and they are left frozen in fear of when a family
I cannot stress this enough: you likely need more life insurance. Life insurance plays a vital role in your estate planning. It helps preserve the value of your estate. It provides for your dependents and your
The Health Insurance Portability and Accountability Act of 1996 was enacted to help ensure the privacy of your medical records. HIPAA limits “covered entities” (i.e., health care providers or insurance companies) from
Going through and getting over a divorce certainly takes its toll. A divorce is a process of unwinding the marriage itself, the property, and sorting out each other’s legal obligations. It can affect your estate planning
In 2016, the State of Michigan passed the Funeral Representative Designation Act which allows you to appoint a “funeral representative” – someone who has authority to make decisions about your final funeral
Once you sign your Revocable Living Trust, that’s not the end of it. Generally, avoiding probate and estate tax savings will be the main reasons why you set up a Trust but you still have to move your assets into it – you have to “fund” it. I always provide funding instructions, but here is a general overview.
Happy New Year! Maybe one of your resolutions is to start planning. But before starting the estate planning documents, it’s important to get educated about it first. One of my main goals is to make sure you always feel comfortable to ask questions anytime. Sometimes many of these questions are the same questions everybody has. So I wanted to invite you to ask general questions now – you may email me (firstname.lastname@example.org), leave comments below or anywhere else on my website (feel free to post anonymously), on my Facebook page (or message me privately), or on Twitter. I will compile the most commonly asked questions over the next few weeks and post my responses for the benefit of everyone’s education about estate planning.
Please note I am only accepting general questions. My responses to general questions can’t be construed as legal advice. Feel free to review the Terms & Conditions page. If you have a very fact-specific legal question, then please e-mail me (email@example.com) or if you already have a Client Account Portal, you can log in and message me through it.
Your “tangible personal property” typically includes jewelry, clothes, vehicles, furniture, household furnishings, silver, books, art, photos and so on. It is often not easy to foresee conflicts your family