Last week, I attended the State Bar of Michigan Elder Law and Disability Rights Section 16th Annual Spring Conference in Plymouth, Michigan. One of the presenters at the conference was Daniel D. McHugh, a Certified Financial Planner® and Certified Public …
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Providing for the Not-So-Secret Life of Pets
It is estimated that 500,000 of the 4 million cats and dogs that are euthanized each year in the U.S., come to the shelters because they have outlived their owners or their owners’ ability to care for them. Oftentimes, these …
Creditor Protection Using Trusts
Trusts can be very effective creditor protection tools. We use them all the time for this purpose. However, there is one trust, that although it can provide fabulous creditor protection for other trust beneficiaries, it does not provide any creditor …
Making Your Trust Work by Funding it
We had one of our clients in this week for a trust review. She said that estate planning and trusts have been regular topics of discussion with her friends. They all have trusts which have been drafted by different attorneys. …
Does Your Trust Plan Have These Options?
We regularly to get people coming into our office with existing trust-based estate plans. These plans are typically prepared by their previous divorce attorney, real estate attorney, the family lawyer or other general practitioner. When we review these plans, rarely …
How a Young Adult can Retire as a Millionaire
Are you or a loved one under age 35? For most young adults, planning for retirement is one of furthest things from the mind. But it shouldn’t be, because young adults have a very valuable asset that those of us …
New Year’s Estate Plan Resolutions
It’s New Year’s Eve. Have you made your New Year’s resolutions for 2018? If you have, you are with the majority of respondents of a recent YouGuv online survey. The top four resolutions for 2018 were to eat better, exercise …
My Beneficiary/Joint Owner Will Handle Things. Not!
“I’ll just name my sister or brother as beneficiary of all my accounts; they will know what to do to take care of my minor children when I am gone.” Or “I will name just one of the kids as …
Your Estate Planning Documents When You Move
This past week, I was asked by a former Missouri resident now living in Michigan if her will and powers of attorney drafted in Missouri are good in Michigan. Without having reviewed the documents, I had to say it depends. …
Plan While You Can
Would you agree that you have more options now while you are alive and well, than after you’re dead? Would you also agree that you have more options now when you are alive and well, than after you are mentally …