Where Do My Assets Go if I Die Without a Will in Michigan?

Posted by on Nov 16, 2017 in Estate Planning, Probate | 0 comments

The legal term for someone dying without a Will is “intestate”.  When someone dies intestate, they essentially have their Will written for them by the State Legislature.  There is a set of rules and priorities for determining who receives the assets of an intestate decedent, and the rules are different depending upon the marital status of the decedent and whether the decedent had children or surviving parents or siblings.

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Your Family Will Not Lose Half of Your Estate to Taxes or Probate

Posted by on Oct 24, 2017 in Estate Planning, Estate Tax, Probate, Probate Admin, Tax | 0 comments

When faced with the question “what do you want to accomplish with your plan?” many clients respond that their primary objective is avoid “giving half of their stuff to the government”. While this is a very commonly cited goal of Estate Planning, it is not a realistic concern for the vast majority of clients.

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Have you talked to your lawyer lately and do you need an estate plan review?

Posted by on Apr 26, 2017 in Estate Planning | 0 comments

When was the last time you reviewed your estate plan? An investment in a complete estate plan is an expensive process.  The expense related to an estate plan is not just the cost of putting the plan in place but also the time it took to meet with your lawyer, the time it took to assemble the information needed to put the plan together and the time it took to think through all of the different asset distribution possibilities.  Putting the plan in a book and on the shelf puts all of that time and effort at risk.  After the plan is finished the...

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Living Trusts — Not just for Millionaires

Posted by on Feb 8, 2017 in Estate Planning | 0 comments

Living Trusts can Benefit More than Millionaires Complex tax planning for the ultra-wealthy almost always involves the use of various trusts.  But it is a mistake to think that trusts are only for millionaires.  Trusts can provide a number of benefits for those with more modest wealth, as well as those with millions in the bank. What is a Living Trust? Living Trusts, or Revocable Trusts, provide more flexibility, more privacy, and various other benefits when compared to a simple Will or other testamentary plan.  A properly funded living trust...

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When to appoint a patient advocate or draft a living will.

Posted by on Jan 30, 2017 in Estate Planning | 0 comments

The Basics of a Patient Advocate or Living Will We are frequently asked when or if a client needs to appoint a patient advocate or draft a living will.  The simple answer to that question is that everyone should have a patient advocate and that it should be done sooner than later.  Some common reasons that bring people to a lawyer to draft a living will include the following: Declining health Diagnosis with a terminal or serious heath condition Desire to direct another regarding your wishes so that they will be more likely carried out An...

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Choosing a Corporate Litigation Attorney

Posted by on Jan 25, 2017 in Litigation | Comments Off on Choosing a Corporate Litigation Attorney

What to Look for in a Corporate Litigation Attorney As a business owner, corporate director or company manager the word “litigation” is the last thing you want to hear. Whether you are being sued – or you have been forced into a position where you must bring a legal action – you need to know that your attorney is up to the task of protecting your interests through every step of litigation. Skilled corporate litigation attorneys must possess a deep understanding of the law and an intimate knowledge of the Court’s personnel & procedures, as...

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Do I Need an Estate Planning Attorney?

Posted by on Jan 23, 2017 in Estate Planning | 0 comments

What Does an Estate Planning Attorney Do? No one likes to think about what happens after they are gone – but almost everyone can benefit from doing a little Estate Planning. Obviously, individuals with a high net worth need Estate Planning. But Estate Planning attorneys are not just for the wealthy. If you own a home, have minor children or have bank accounts with more than a few dollars in them, some Estate Planning now can ensure that everything is handled according to your wishes after you are gone. Estate Planning ensures that your home,...

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Do I Need a Business Planning Attorney?

Posted by on Jan 23, 2017 in Business Planning | 0 comments

What Can a Business Planning Attorney Do for Me? People often say that business planning is part art and part science … but it is also, in large part, an understanding of applicable laws. Most “must have” business planning lists include: Defining your brand Controlling expenses Limiting liability All common sense, right? Absolutely! But a great idea, a keen sense for business, and hours of hard work are not enough for success unless you understand the legal underpinnings of each of the “must haves” on this business planning list. Business...

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Estate Plan Basics — What is an Estate Plan?

Posted by on Jul 5, 2016 in Estate Planning | 0 comments

Estate plan Basics One of the first questions that many clients ask of an estate planning attorney is: What is an estate plan?  Some clients believe it is a will.  Others understand that a complete estate plan is more than a will but they are not sure what that might be. To put it simply an estate plan is more than just one document, it is a process.  During that process the clients work with the estate planning attorney to gather information and examine all of the issues that need to be addressed as part of the final documents.  During that...

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Trust Funding Issues

Posted by on Jun 30, 2016 in Estate Planning | 0 comments

Clients who prepare a comprehensive estate plan with a trust, will, power of attorney and medical directive have won the battle but not the war.  In many cases after the plan is complete we continue to see trust funding issues.  Clients or professionals cause trust funding issues when a portion of the plan is not followed to completion. Funding issues are caused in a number of ways.  Some issues come about when the trust is initially prepared.  A small number of attorneys prepare trusts for clients without any instructions for how it should...

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