A will is an important estate planning document because it provides instruction to individuals of how a decedent wanted their assets distributed and minor children cared for. Not everyone who wants to execute a will can, and this informational post will explore just...
Estate Planning
Understanding health care as part of estate planning in Michigan
Michigan residents who are thinking about estate planning might focus on their will or creating a trust. These are the most common aspects of an estate plan and therefore attract the most attention. However, there are many other parts of a comprehensive document....
Estate planning: Revocable vs. irrevocable trusts
As you begin the estate planning process, it can be easy to get bogged down with the many possible documents to include in your final estate plan. Understanding the advantages and disadvantages of various tools used to distribute assets can help you ensure your family...
A Boomer’s estate plan can help their Millennial children
It may seem hard to believe, but some Millennials in Novi are already nearing middle-age, meaning their Baby Boomer parents are reaching an age where if they do not have an estate plan, they should seriously consider executing one sooner rather than later. The...
Elements of a valid Michigan will
One of the first testamentary documents that a Michigan resident may consider preparing when thinking about their estate plan is a will. A will is a legal tool that describes how a person wants items of property given to named beneficiaries when the person dies....
Estate planning for families
Novi area residents may hear the term “estate planning” and figure it’s something their grandparents find important. But estate planning is a dynamic plan that should be completed by everyone. Couples who have children may find it to be a good time to create an estate...
Address digital assets in estate plan
Estate assets have typically included real estate, money, heirlooms, and financial accounts. But people now transact much of their business and lives online. Digital assets and passwords to important online accounts should be part of estate planning or assets may be...
Estate planning is more than just the drafting of a will
Creating an effective estate plan is more than having a will and other documents. Estate planning should also include communication with your family and other steps. Age and maturity After your children are over 18, you should consider their roles in handling your...
What should my estate plan include?
Michigan residents likely understand that they need an estate plan, but what that actually entails might not be clear. While many people think that they need to write a will and they have completed their estate plan, this is not the case. An estate plan not only...
Certain documents are the foundation of an estate plan
One reason people choose to put off making an estate plan is that they are not sure where to start. Admittedly, estate planning is a process that will vary, sometimes widely, depending on the person. However, there are certain basic documents that most Michiganders...