There are a lot of financial professionals out there. According to industry estimates, there are more than 400,000 individuals who hold themselves out as financial advisors in the United States. You see life insurance agents, stock brokers, annuity salespersons, certified …
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Medical Decision Making for Young Adult Children
It is the high school graduation season and now time again for my annual column for young adults. If you have any adult high school or college aged children, they are responsible for making their own medical and mental health …
Diversify With Real Estate
You have your CDs, stocks, bonds and mutual funds. Real estate is one way to diversify your investment portfolio. There are still some bargain deals out there and you have always wanted to be a landlord. Just like with any …
Separate Trusts Offer More Benefits
Last week, I attended and was one of the speakers at the three day 55th Annual Probate & Estate Planning Institute sponsored by the State Bar of Michigan and the Institute for Continuing Legal Education. This conference focuses on the …
Estate and Trust Administration Legal Fees
A loved one has passed away. You may have been named the personal representative of the estate or successor trustee of the trust. You have never had this job before and you now have to hire an attorney to administer …
What Do We Do With The Car
You have a car in your garage. Have you ever thought about what is going to happen with your car after your death? The answer is the typical legal answer, depends. If your car is in your sole name, the …
Spring Cleaning for Your Records
It’s springtime. It is that time of year to start cleaning out the closets, the garage and the shed, all of which over the winter had become a repository for all that stuff that you just didn’t have the time …
Half a Loaf is Better than None
Last week, we discussed caregiving options with modest estates. But what if you have saved more than the national average of $35,000. Is there anything that you can do to protect those assets for you and your loved ones in …
Do You Really Have an Estate Plan
You have done more than the majority of people in the state of Michigan, you have some estate planning documents. You have a will, a power of attorney or two, and maybe even a trust. But you also have a …
Providing for Special Needs Loved Ones
Last week, we discussed protecting your special needs child or other loved one who is developmentally disabled and/or legally incapacitated. As we talked about, if you are your loved one’s primary caregiver or caretaker, proper planning dictates that you designate …