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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...
Many millennials may not automatically think that they need to create an estate plan. That, however, is far from true. Many elements of an estate plan can benefit people in the millennial generation, especially once they become parents. Identifying a person or people...
Proper estate planning gives you the opportunity to maximize the value of your assets and allows you to make informed decisions about the handling of your estate. Estate planning is a unique process that allows you to customize what you want to happen with your...
Your aging parents may not only need help physically, but financially, too. You do not have to send them money, but you want to help them manage the funds and protect their financial health. AARP offers suggestions on how to manage another's money the right way....
Michigan does have an inheritance tax. However, this should probably not concern you while making a new estate plan or considering the value of the estate of a recently lost loved one. It only applies to older cases. This does not, however, mean that your assets...
Perhaps the most complicated aspect of estate planning in Trenton is determining which of your heirs will inherit your assets (as well as what and how much they will receive). The last thing that you want is for your decisions to cause contentions amongst them once...
Many families today come together via remarriages. A second or subsequent marriage offers people the opportunity to start fresh and enjoy the benefits of a positive partnership after a previous divorce or loss of a spouse. These marriages, however, also raise unique...
Michigan residents should have an estate plan on hand. But after you create your estate plan, you cannot leave it as-is forever. Your estate plan should reflect your current life circumstances accurately. The first thing to note is that you do not need to wait for a...
When you decide to begin the process of planning your estate and coordinating which of your relatives in Michigan will be beneficiaries of your assets, it may be difficult to ascertain what you should include. While the scope of your plan is dependent on your...
Whether or not you have significant assets, you probably have some idea of how you want your property distributed among your heirs. Michigan state law is very specific about the elements that make a will valid. At Robert D. Paulbeck, Attorney at Law, we often counsel...