So you have named your children as your successor trustees of your trust, the personal representative in your will or your financial power of attorney. You may have named your oldest child first as your financial agent because you think …
Currently browsing Trusts
Disability Easier With Trusts
You finally have decided to get your estate planning documents in place. However, you haven’t decided to get a trust, or settle for a will with financial and healthcare powers of attorney. You are not alone. Many people debate whether …
The Stuff People Fight Over
You may have that special ring that you want your daughter to have after yo are gone. Or you may have Grandma’s antique bureau that your son has always admired. You may want Auntie’s antique silver tea set to go …
Indecision No Excuse for Not Planning
If you are like 70% of adults in Michigan, you have done no estate planning. You have not prepared a will, trust or financial or health care powers of attorney. The big question is: Why not? One reason you may …
Protecting Unmarrieds Shackup Agreement
You and your partner have been living together for years, maybe even decades. You have a committed relationship that may even have been blessed by your church, but for a variety of reasons, you will not be married. It could …
Financial Literacy and Aging
It’s a fact of life. As you age, your physiological systems slow down. You probably notice the physical indications of this every day. You do not go up and down the stairs as easily as you used to. It is …
Seven Most Common Trust Mistakes
We haven’t discussed mistakes and misconceptions that many people have regarding trusts in a while. You may have a revocable living trust in your estate plan. Living trusts are very powerful planning tools that you can use for all kinds …
Younger Adults Need Planning Too
You may be a younger adult. If you are like most young adults, planning for your retirement is one of farthest things from your mind. Planning for your disability, death or other catastrophe is even farther from your mind. It …
How to Leave an Inheritance to a Child or Other Beneficiary
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 immediate outright distributions to them. However, when you …
Titling of Assets
So you now have your trust. In addition to your trust, your estate plan should also include, at a minimum, your financial and healthcare powers of attorney and your pour-over will. Your financial and healthcare powers of attorney will allow …