You go to your bank, credit union or broker to open up a new account. You are encouraged to name beneficiaries or joint owners because if something happens to you (i.e. you die), the account “will avoid probate”. You are …
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Probate Avoidance 101
I regularly have people come into my office and say “My estate is simple” and think that not much work will be involved in planning their estate. Their estate plan is usually anything but simple. What you may think is …
Top Estate Planning Misconceptions
As you go through life, you probably have found that there is no shortage of people who want to give you estate planning advice. This may include your family and friends. Very often, estate planning matters are the subject of …
How to Prevent Conflicts About Medical Care in Your Family
I continue to get questions regarding estate planning basics. So I will continue with a discussion about making healthcare decisions. Have you ever thought about who would make your medical or mental healthcare treatment decisions if you could not because …
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 …
If There Is No Will, There Is A Way
If you are like the majority of people in America, you have done no estate planning. This means you do not have a signed will. Just because you do not have a signed will, does not mean you do not …
How To Select an Estate Planning Attorney
Finding the right attorney to plan your estate can be a significant challenge. It may be the first contact that you will ever have with an attorney. What qualities should you look for in an estate planning attorney? Do not …
Estate Planning With No Kids
Recently, I spent a few days on a boat in Lake Huron with a friend of mine who has no children. It got me thinking. I have never written a column specifically directed at the issues that may be encountered …
Providing for Special Needs Loved Ones
You may have a special needs child or other loved one who is developmentally disabled and/or legally incapacitated. As a result of this disability or incapacity, your child or other loved one may also be on some form of governmental …