You want to leave everything to your children or other beneficiaries after you are gone. If you are like many people whose estate plans I have reviewed, you may have just left outright distributions to them. However, when you leave …
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How to Leave an Inheritance to your Spouse
Are you going to leave anything to your spouse when you are gone? If so, there are lots of ways to leave an inheritance to your spouse. If not, you can stop reading now. The four most common ways that …
Per Stirpes or Not Per Stirpes
You have a will or a trust in which you leave your property to your family or other beneficiaries when you are gone. As a backup plan, your will or trust should have contingent beneficiaries named in the instance that …
Wills Guarantee Probate
“Dad’s (or Mom’s) will says I am the sole beneficiary. I took the will to the bank, but the bank refused to give me my money. Why won’t the bank give me my money, when Dad’s (or Mom’s) will says …
Joint Ownership Fraught With Peril
Many people, including most married couples, use joint ownership of their assets as their own self-made mini estate plan. Sometimes joint ownership works to transfer assets upon death. Quite often joint ownership does not work because a joint owner gets …
Elder Financial Abuse
As the economy sinks in Michigan, financial abuse of the elderly is rising. The number of cases of financial exploitation of the elderly investigated by the Department of Human Services has nearly quadrupled since 2000. When you hear of elder …
Financial Planning Under 35
Financial Planning is not just for people nearing retirement. In fact, it is a good idea to begin planning for a comfortable and secure retirement when you are young. That is why Social Security has a new financial planning tool …
Making Decisions for Mom or Dad
So Mom or Dad has named you as their financial power of attorney and patient advocate. You will be handling financial and medical decisions for Mom or Dad if they are unable. Mom or Dad has told you that it …
Collections
You have spent the better part of the last fifty years, or more, collecting baseball cards, Coca Cola memorabilia, classic cars, coins or other collectibles. What will happen to your collection after you are gone? If you have an only …
Healthcare Issues
In your estate plan, if you are like most people, you want to make sure that you are in control while you are alive and well, that you and your loved ones are provided for when you are alive and …