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Many testators in Michigan only establish bare-bones estate plans. They have a will and possibly nothing else on record. Adults understand the financial and legal protection that they can derive from an estate plan. They may see the value in naming the representative...
When you are planning a wedding, making funeral arrangements or anything in between, your estate plan might be the last thing on your mind. It's natural to be caught up in the emotions of the life event you and your family are experiencing instead of asking yourself,...
An estate plan is a collection of protective documents that determine what happens with someone's property when they die, who will make decisions on their behalf in the event of incapacitation, etc. Most estate plans are simple and focus on what happens when someone...
Most experts will advise any adult to create an estate plan. From the moment you come a legal adult, you will benefit from having someone empowered to make medical choices for you or pay your bills if you end up in a coma. Once you acquire valuable property or add...
A conservatorship is a legal term for an adult having guardianship over another adult. Some reasons to have this arrangement include temporary or permanent medical incapacitation, severe depression or anxiety that prevents someone from making the best choices for...
An estate plan can help you prepare for the future and protect your interests when you die. But if you are like many, you may not have started preparing this essential plan. According to a survey completed by Caring.com, only 4 out of 10 adults in the U.S. have...
As part of estate planning, you must let your loved ones know about your end-of-life desires. You may not feel prepared to have this conversation, but your children, relatives and friends deserve to know your desires. AARP offers tips for broaching the subject. Do not...
If a loved one died and named you as the executor of his or her estate, you may feel unsure about where to start. While you are likely familiar with this person's wishes, there is much more to this role. As executor, you are responsible for completing all the...
As you immerse yourself in the estate planning process in Michigan, you quickly discover that a major element of this task is limiting the potential liabilities your estate may face. Settling your debts and structuring your estate so as to minimize (or even avoid) the...
Michigan residents like you put a lot of time and effort into creating an estate plan. Unfortunately, this plan does not last forever. You need to update your estate plan to ensure that it remains true to your current life situation. But when should you update it? Are...