Many people wonder if they should update their estate plan or if their existing estate plan is adequate to meet their needs. I recommend that people review or have their estate plan reviewed annually, to make sure that it is …
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Reasons to do Estate Planning
I’ve had people come up to me and say “I don’t need estate planning because I don’t have anything.” These people mistakenly believe that estate planning is all about death planning for their stuff. What they do not realize is …
Medical Directives
One of the most important documents necessary to avoid court involvement when you are old and funny is a Durable Power of Attorney for Health Care also called a Designation of Patient Advocate. With this document, you choose who is …
If There Is No Will, There Is A Way
If you are like the majority of people in America, you do not have a signed will. Just because you do not have a signed will, does not mean you do not have a “will”. In the absence of a …
Children’s Accounts May Need to be Probated
In an attempt to do their own mini-estate plan, many people add their children’s or grandchildren’s names to financial assets. These assets could include saving accounts, checking accounts, Christmas club accounts, CDs, life insurance policies, annuities, U.S. Savings Bonds, etc. …
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 …
Planning for Charitable Gifts
If you are like most people, you are charitably minded. Studies show that more than 80 percent of Michigan residents give annually to non-profit charitable organizations. However, have you ever thought about what happens to those non-profits after you are …
Medical Decision Making for young Adult Children
If you have any adult high school or college aged children, they are responsible for making their own medical decisions. Children become legal adults at age eighteen when they miraculously gain all the wisdom and insight of adulthood. At age …
Sharing is Caring
They’re your assets and your estate plan and you want to keep it private. Why would you want to share your plan with your family? If your family is like most families, your children will at some point start believing …
Providing for Special Needs Children
You may have a special needs child who is developmentally disabled or legally incapacitated. This child may also be on some form of governmental assistance such as Supplemental Security Income, Social Security Disability Income or Medicaid. If you leave property …