If you had to go into a nursing home, do you want your assets to go to the nursing home or to your loved ones? This is a question that we ask all of our estate planning clients when we …
Articles
Planning for Singles with No Kids
You may be single. If you are, you are part of a growing crowd, According to the Pew Research Center, half of the adults in the U.S. are single, up from only 28% in 1960. The percentage of adults who …
Protecting Your House When You Qualify for Nursing Home Medicaid
You or your spouse cannot live at home anymore. You need assistance 24/7. You have no choice but to go into a nursing home. You were told, incorrectly, that you had to spend down your assets on nursing home care, …
So You Have Been Asked to Be a Guardian
Last year, my brother and his wife asked me and my wife Emily that if something happened to them, could we be guardians of their minor children. Our children are grown, out of the house and self-supporting. My brother and …
Michigan’s New Asset Protection Trust
Trusts have always been great estate planning tools. You can get all kinds of protections for your beneficiaries after you are gone, such as protection from creditors, divorces or remarriages. Although your beneficiaries could have access to the assets of …
Getting a Tax Deduction for Giving Away Stuff
You are charitably minded. You regularly give to your favorite charities. You are doing your taxes and you are trying to figure out what you can deduct and what you cannot. You may have given clothing to the local shelter …
Protecting Your Assets From Your Spouse
A couple weeks ago, we discussed how to leave an inheritance to your spouse. But what if you do not want to leave anything to your spouse after you are gone. It could be the second marriage for both of …
Thinking About Hanging Up the Car Keys?
The number of older drivers on the road is increasing. According to the AAA Foundation for Traffic Safety, the percentage of drivers over 65 will likely increase from about 16% today to over 25% by 2025.But just because you are …
2016 Law Changes May Trigger Estate Plan Updates
2016 was a busy year for the folks in Lansing. They passed all kinds of laws from drinking water protection to child protection, from electronic hunting and fishing licenses to traffic control. Be prepared for much more to come in …
Options for Leaving an Inheritance to a Spouse
Do you plan on leaving anything to your spouse after you are gone? If you do, you have lots of options. There are many ways to leave an inheritance to your spouse. Most married couples, especially long-term married couples, have …