Posted by Andrew Byers | Jan 23, 2017 |
When a person dies with a will in place, an executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a will has not been prepared, the probate court will appoint an administrator. Whether you have been named as an executor or administrator, ...
Posted by Andrew Byers | Jan 16, 2017 |
As the population grows older, many elders must face the difficult challenges of aging, such as declining health, long-term care planning, asset protection and other financial concerns. The practice of elder law is designed to assist seniors with meeting these challenges and give them peace of mi...
Posted by Andrew Byers | Jan 09, 2017 |
The most basic estate planning tool is a will which establishes how an individual's property will be distributed and names beneficiaries to receive those assets. Unfortunately, there are circumstances when disputes arise among surviving family members that can lead to a will contest. This is a co...
Posted by Andrew Byers | Dec 30, 2016 |
Scams run amok across virtually every industry, ranging from the financial sector to fashion, art and recreation. It should come as no surprise, then, that the estate planning industry is not immune from a similar plight – and we caution our clients regularly to keep on the lookout for the red fl...
Posted by Andrew Byers | Dec 28, 2016 |
With the Baby Boomer generation beginning to age and enter retirement, there has been an assortment of strategies and tactics suggested to those caught in the “Sandwich generation” – that is, those tasked with caring for both minor children and aging parents. However, for some elderly folks, ther...
Posted by Andrew Byers | Dec 26, 2016 |
Inheritance laws involve legal rights to property after a death and such laws differ from state-to-state. Heirs usually consist of close family members and exclude estranged relatives. Depending on the wording of a will, an individual can be intentionally, or even unintentionally, disinherited...
Posted by Andrew Byers | Dec 19, 2016 |
So, you have a will, but is it valid? A will can be contested for a multitude of reasons after it is presented to a probate court. It is in your best interest to have an attorney draft the will to prevent any ambiguity in the provisions of the document that others could dispute later.
A will m...
Posted by Andrew Byers | Dec 05, 2016 |
There are many benefits to a revocable living trust that are not available in a will. An individual can choose to have one or both, and an attorney can best clarify the advantages of each. If the person engaged in planning his or her estate wants to retain the ability to change or rescind the d...
Posted by Andrew Byers | Nov 28, 2016 |
The Gulf War, which began in the early 1990's, originally involved 34 nations and took place in the Middle East – and relied on service from nearly 700,000 U.S. troops. While engaged in combat, these troops were exposed to a wide range of situations giving rise to severe, lifelong injuries. While...
Posted by Andrew Byers | Nov 25, 2016 |
As practitioners of veteran's benefits law in Michigan, we routinely meet with the valiant and courageous former service members as they embark on the process to obtain much-needed benefits from the federal and state governments. One of the most pressing issues – both in our state and elsewhere –...
Posted by Andrew Byers | Oct 30, 2016 |
Why do I need to have an estate plan?
For those of you who missed it, October 17 -23 was National Estate Planning Awareness Week. Since 2008, this annual event has been aimed at educating the public about estate planning and the reasons why it is so crucial. One would think that people recognize...
Posted by Andrew Byers | Sep 30, 2016 |
Who should I select to manage my financial affairs and make medical decisions in my estate plan?
Once you've taken the leap to plan your estate you will be faced with difficult choices, especially regarding who should handle your property and financial affairs as well as who is best suited to ma...
Posted by Andrew Byers | Sep 27, 2016 |
When is the best time to consider a Guardianship for your elderly loved ones?
Customers of Michigan laundromat “The Laundry Station” were shocked this past week when a 98-year-old woman drove her car through the business' plate glass window after confusing the accelerator and brake pedals. Than...
Posted by Andrew Byers | Sep 04, 2016 |
What are advance medical directives?
Estate planning is simply a matter of getting your affairs in order, and while no one wants to think about dying, it is crucial to protect your assets, provide for your loved ones and ensure your wishes are carried out. It is also essential to have a plan for...
Posted by Andrew Byers | Sep 04, 2016 |
What is being done to protect elders from financial exploitation?
In August, the Consumer Financial Protection Bureau (CFPB) issued a report on community-based efforts to handle what has been called the crime of the twenty-first century: the financial abuse of elders. The CFPB reported noted t...
Posted by Andrew Byers | Aug 29, 2016 |
The conversation about a person's last wishes can be an awkward one for both the individual who is the topic of conversation and his or her loved ones. The end of someone's life is not a topic anyone looks forward to discussing. It is, however, an important conversation that must be had so that t...
Posted by Andrew Byers | Aug 15, 2016 |
A durable power of attorney is an important part of an estate plan. It provides that, in the event of disability or incapacitation, a preselected agent can be granted power over the affairs of the individual signing the document. This power can be limited to specific decisions, like the decision ...
Posted by Andrew Byers | Aug 05, 2016 |
Who will plan my funeral and resting place arrangements after I die?
For the first time in Michigan's history, you can now designate a funeral representative who will make important decisions about your funeral arrangements and resting place after death. The new law, known as the Funeral Repres...
Posted by Andrew Byers | Jul 25, 2016 |
In order to predict how much your estate will have to pay in taxes, one must first determine the value of the estate. To determine this, many assets might have to be appraised at fair market value. The estate includes all assets including real estate, cash, securities, stocks, bonds, business int...
Posted by Andrew Byers | Jul 13, 2016 |
I'm not rich. Do I really need a will or trust?
The shock of Prince's death in April at age of 57 rocked the music world. The fact that he apparently died without leaving a will or trust rocked the legal world. You don't have to be rich to have a will (or to be my girl, as the famous Prince lyri...
Posted by Andrew Byers | Jul 04, 2016 |
Testamentary capacity refers to a person's ability to understand and execute a will. As a general rule, most people who are over the age of eighteen are thought to be competent to make and sign the will. They must be able to understand that they are signing the will, they must understand the natu...
Posted by Andrew Byers | Jun 27, 2016 |
Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate, and without the need for any taxes to be paid. Having a life insurance policy ensures that some assets will be liquid, so that debt...
Posted by Andrew Byers | Jun 23, 2016 |
If you had to pay for long-term care in a nursing home, could you afford to?
In the past, much elder care was handled informally at home. However, as more and more women started to work outside the home, wives and daughters were not available to care for aging parents or in-laws in addition to ...
Posted by Andrew Byers | Jun 14, 2016 |
What are the consequences of nursing home neglect?
As the population grows older, many individuals and their loved ones will need to make difficult decisions about long-term care. When a parent or another relative can no longer care for themselves, becoming a resident of a nursing home may be th...
Posted by Andrew Byers | Jun 13, 2016 |
There are several reasons that a will may prove invalid. It is important for testators to be aware of these pitfalls in order to avoid them.
Improper Execution
The requirements vary from state to state, but most states require a valid will to be witnessed by two people not named in the will. So...