You have done no estate planning – no will, no trust, no financial power of attorney and no health care power of attorney. Congratulations! You are with the majority of Michiganders. Over half of our state’s adult residents have no …
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Income Tax Benefits of Charitable Giving
You have your favorite charitable passions. They may be providing for underprivileged children, protecting abused animals or supporting your church. There are a variety of ways to give. The most common gift is the direct gift of money by cash, …
You Can Pick Who’s in Charge of Funeral
You Now Can Designate Who’s In Charge of Your Funeral Monday, June 27, 2016 is a new day for you and the other residents of the state of Michigan. Starting tomorrow, for the first time in our state’s history, you …
Do-It-Yourself Plans Dangerous for Nursing Home Medicaid Qualification
By: Matthew M. Wallace, CPA, JD Last week we discussed some of the things that you should do if nursing home admission was a possibility for you or a loved one. You may be tempted to implement some of the …
My Joint Owner Died – What Do I Do Now?
Mom or Dad has passed away. You or one of your siblings was named as a joint owner on some of Mom or Dad’s accounts or real estate. Maybe Mom or Dad told the joint owner to share the account …
Taking Care of the Kids While You’re Away From Them
You have always enjoyed the family vacations with the kids. However, you need some alone time. You are planning a major vacation. This time you are going without the kids. You have made arrangements for the kids. They are going …
With Will-Based Estate Planning Fees, You Get What You Pay For
Last week, we discussed trust-based estate planning fees. However, if your estate plan does not require the protections and benefits of a trust, then a will-based estate plan may be sufficient for you. These trust protections and benefits that are …
Savvy: Building Your Legacy Today
You are most likely charitably minded. Studies show that more than 80 percent of Michigan residents give annually to nonprofit charitable organizations. However, have you ever thought about what happens to those nonprofits after you are no longer around to …
Protect Yourself From Insurance Loss
You had a fire and the home is a total loss. Over the years, you have spent tens of thousands of dollars on furniture, furnishings and other household items. You have spent similar amounts on clothing, jewelry, toys and other …
Now What Do We Do With the House
Mom and Dad are no longer with us, but they left the house to the kids. What is going to happen? What do you do? The answer is: “It depends.” But on what? It depends upon how the property is …