Today’s topic we have covered before. However, it is a situation in which couples often find themselves, to their detriment. I have come across couples in this unfortunate circumstance many times recently. So I have decided to go over this …
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Children’s Accounts May Need to be Probated
In an attempt to do your own mini-estate plan and avoid probate, you may have set up and transferred funds to special accounts for the benefit of children, grandchildren or other relatives. These could be set up under the Uniform …
September Savvy EP Drafting State & EP Docs When You Move
You spend your summers in Michigan. The rest of the year, you live out-of-state in Florida or another state. You have your will, financial power of attorney and healthcare power of attorney and maybe a trust. But they were prepared …
Tax Increases Likely in 2013
Tax rates are near historic lows. However, these rates are only the “temporary” Bush tax cuts that were implemented in 2001 and are scheduled to expire January 1, 2013. There is currently a stalemate in Washington over what to do. …
Real Estate in Your IRA
I haven’t discussed IRA real estate investments in a while. I have received a number of inquiries regarding these investments within the last few months. So, I have decided to revisit this topic and update the information for you. With …
Elder Financial Abuse Is Not Always So Obvious
There has been an epidemic of elder financial abuse in our country. It is reported that the number of known cases of financial exploitation of the elderly in Michigan has quadrupled in the last decade. According to law enforcement officials, …
Taking Care of Your Retirement Financial Health
With our current economic challenges, those of us looking forward to retirement need to be well-informed about our financial needs in coming years. And not only pre-retirees, but if you are already in retirement, you need to be wise to …
July Savvy Separate Trusts Offer More Benefits
For most of my married clients, I typically prepare separate trusts for each spouse instead of a joint trust for both spouses. I am occasionally asked why. The reason is very simple, it is what most of my clients want. …
Lump Sum Pension Payments
You are a retiree receiving a monthly pension. Your former employer has offered you a large sum of money to take instead of your monthly pension. It sure looks tempting. What should you do? Paying out monthly pensions as lump-sums …
Dresser Drawer Deeds
“I don’t have to worry about probate because I have a quit claim deed.” You have probably heard this statement from family or friends or have said it yourself. You may attempt to do your own mini estate plan by …