Is an irrevocable trust the right estate planning tool for me? The Michigan Qualified Dispositions in Trusts Act of 2016 recently took effect and it could benefit thousands of individuals in Michigan who want to protect their assets from creditors during their lifetime.  Trusts in Michigan have ...

Powers of attorney are extremely useful documents in the event of mental incapacity. These documents are also useful in less dire situations, such as when the principal is out of the country or simply unable to sign an urgent document. Nonetheless, rumors concerning potential pitfalls with powers...

Asset protection is a wealth strategy that helps you protect your assets from creditor claims. It is useful for both individuals and businesses. Proper planning can prevent creditors from having access to some of your most valuable or precious assets. It is often used in conjunction with an estat...

Do I need long-term care insurance? As the baby boomer generation ages, the question of whether or not to purchase long-term care insurance becomes a pressing one to a greater and greater segment of the population. In considering matters like long-term care, having a skilled and knowledgeable el...

What are the particulars of long-term planning for children with special needs? Regardless of family income level, parents with special needs children have to think seriously about how the long-term requirements of their children will be met after their parents pass away. This is by no means an ...

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, ...

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...

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...

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...

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...

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...

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...

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...

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...

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 –...

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...

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...

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...

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...

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...

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...

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 ...

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...

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...

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...