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Trusts exist to simplify the transfer of assets and protect family members from prolonged legal battles. But trusts can also create serious complications. Trust disputes can arise if someone drafts the trust under questionable circumstances or when a trustee...
Probate can take 12 to 18 months in Michigan and cost thousands of dollars in court and legal fees. If you own a home, a Lady Bird Deed may let your family skip that process entirely. Why probate creates problems for Michigan families When a homeowner dies without a...
Unitrusts and income trusts are important estate planning tools that can help to manage and distribute one’s assets. Each trust can serve a unique role in one’s portfolio. It is wise to have a basic understanding of how each works before choosing one of these tools to...
There are multiple reasons why people decide to create trusts when planning an estate. Often, concerns about family conflict are a driving force behind the decision to draft a trust. Trustors can preserve their resources for specific purposes, minimize family conflict...
Michigan is one of just five states that recognizes what is known as a Lady Bird deed. This is a tool that can be useful in estate planning. It can be a way of passing on real estate without having that property go through probate. What is a Lady Bird deed? When you...
When you decide to make a will and estate plan, the task ahead of you can feel overwhelming. How are you going to decide who gets what and who should manage distributing your assets? If you aren’t strategic in your estate planning, you could make a mistake that could...
Forbes explains how your estate planning needs may change over time. Michigan residents may find it valuable to periodically revisit and refine their estate plans based on evolving family circumstances. We have helped clients design estate plans to meet their...
If you have a special needs child, you have a lot on your plate. Depending on his or her specific disability and the severity thereof, you may spend considerable time seeing to his or her needs. But who will care for him or her if (s)he outlives you? Establishing a...
When a will makes its way through a Michigan probate court, a relative or beneficiary who questions its contents may have a chance to raise his or her concerns and question the validity of the will itself. At , we recognize that there are...
Many people have special causes they give to over the course of their adult lives. Perhaps you want to continue that giving by making sure a Michigan charity or foundation receives some of your assets after you pass away. With the help of some smart estate planning,...