I am now in my tenth year of writing the weekly column Planning Matters for the Times Herald. If you include the Savvy magazine columns, I’ve had over 500 columns published. I am always looking for estate planning, elder law, …
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More Estate Planning Questions
On a daily basis in our office, we get a lot of estate planning questions because of all the estate planning that we do. In this column, I like to periodically cover the questions we get. Today, we are going …
Three Critical Questions When Planning Retirement
Are you at or near retirement? Or are you in your prime earning years? Or are you just beginning your career? Regardless of where you are in your working life, you should be thinking about retirement. You should start planning …
No Will? You Still Have a Plan
Last week, we discussed that to make your will work, it had to go through the probate court process. But what if you have not will or trust? Well firstly, you would be like the majority of people in America …
Wills Won’t Work Without Probate
“Mom’s (or Dad’s) will says I get everything. I took the will to the bank. Why won’t they give me my money?” We get this question all the time. We heard it again this week. What many beneficiaries do not …
So You Are In Charge of the Estate or Trust
Mom or dad has named you as personal representative of their estate or as trustee of their trust. As a personal representative or trustee, you are considered a fiduciary. This is someone who handles funds or property of another. As …
Do-It-Yourself Beneficiary Designation Planning Unwise
You have named beneficiaries on everything you could because you thought it was the right thing to do. You have named beneficiaries on your bank accounts, investments, retirement accounts and life insurance. Your banker told you to do it. Your …
Who Needs Estate Planning?
You are age 18 or over. You are also with the majority of Michiganders and have done no estate planning. No will, no trust, no financial or health care powers of attorney, no nothing. If you became mentally incapacitated, do …
Providing for Blended Families
According to the Pew Research Center, 70% of Americans get married sometime during their lifetimes. However, every one of these marriages eventually ends. About half end in divorce. And the other half end in death. About 70% of those who …
Should You Share Your Estate Plan?
You have been raised in a family who does not talk about money. You have been taught that money matters are private and not to be disclosed to others, not even parents, children or siblings. They’re your assets and your …