You have been thinking about a trust-based estate plan. Many people choose a trust-based estate plan over a will-based estate plan. In our practice, most of our clients choose trust-based estate plans because they want the protections that a trust …
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You Don’t Need $1 Million for a Trust
You keep on hearing about trusts. Should you have one or should you not? The most common misconception that we hear on a fairly regular basis is “I don’t have enough assets to have a trust.” I heard it again …
Top 8 Trust Funding Mistakes
You have your trust. You were told that to make it work, it has to be funded. Your estate planner maybe did a deed or a beneficiary designation, and then you were told that you had to do the rest …
Funding Real Estate into Your Trust Not as Simple as a Quit Claim Deed
You have your trust. You felt pretty good having it done. But then you were told that your trust will not work the way you want it and avoid probate unless you fund it. But what is this funding and …
Downsize and Simplify
You are still living in the home in which you raised the kids. It is the family homestead. You have lots of memories in that home. The kids moved out decades ago. You do not use or need the other …
Choosing a Financial Advisor
There are a lot of financial professionals out there. According to industry estimates, there are more than 400,000 individuals who hold themselves out as financial advisors in the United States. You see life insurance agents, stock brokers, annuity salespersons, certified …
Separate Trusts Offer More Benefits
Last week, I attended and was one of the speakers at the three day 55th Annual Probate & Estate Planning Institute sponsored by the State Bar of Michigan and the Institute for Continuing Legal Education. This conference focuses on the …
Estate and Trust Administration Legal Fees
A loved one has passed away. You may have been named the personal representative of the estate or successor trustee of the trust. You have never had this job before and you now have to hire an attorney to administer …
What Do We Do With The Car
You have a car in your garage. Have you ever thought about what is going to happen with your car after your death? The answer is the typical legal answer, depends. If your car is in your sole name, the …
Do You Really Have an Estate Plan
You have done more than the majority of people in the state of Michigan, you have some estate planning documents. You have a will, a power of attorney or two, and maybe even a trust. But you also have a …