Dealing with real estate in an estate plan can be difficult, depending on your goals and desires for asset protection, avoiding probate, and reducing tax liability. Real estate can also be difficult to manage when you are discussing Medicaid planning and long-term care planning. However, one option that may be suitable for some individuals is… Read more »
Elder abuse is a serious problem in Michigan and throughout the United States. Abuse can take many forms, including financial abuse. Financial abusers steal money or items from elderly individuals or mismanage a senior’s money for the abuser’s benefit. Below are seven signs that may indicate an older adult is the victim of financial abuse…. Read more »
Are you ready for retirement? Do you have enough money in savings for your retirement? If not, there is some good news. New legislation that passed the House is aimed to help Americans close the retirement savings gap so that they have enough money in their retirement accounts to provide for their needs throughout their… Read more »
If a person sits down at his kitchen table and writes a will on a piece of paper he had in a drawer, is that handwritten will valid under Michigan law? Yes, the handwritten will can be a valid will if it meets all requirements for a holographic will under Michigan statutes. Why would someone… Read more »
Tragically, many families lose a loved one after a long battle with a condition or disease that requires comprehensive medical care. After the person passes away, the family could face substantial medical bills that health insurance or government benefits did not pay. In many cases, the medical provider may look to the spouse or adult… Read more »
There are still many questions about The Tax Cuts and Job Act (TCJA) passed by Congress last year. One of the questions many people have about the new tax law is how the law relates to their estate plan. Our Brighton estate planning attorneys recommend that you review your estate plan periodically to ensure that… Read more »
Two cases in Pennsylvania highlight the need for adult children to work with their parents to ensure they have a way to pay for future long-term care, if necessary. In a story published in Investment News, the author discusses the two cases and how those cases related to filial laws. In both cases, adult children… Read more »
Seniors are often the target of financial scams for a variety of reasons. Scam artists target elderly individuals because they are often lonely and have more time to talk to random callers or respond to unsolicited emails. In addition, many seniors are trusting, compassionate, and may not be aware of the various ways a scammer… Read more »
It is difficult not to have some type of debt. From credit cards to house payments and car loans, most of us have some type of debt, and many of us will die owing debt. How that debt is handled depends on several factors. However, in few cases will you be responsible for paying your… Read more »
Most of the clients of The Elder Care Firm are not concerned about protecting against estate taxes because they do not have over $5.49 million, instead they want to avoid probate, protect against long-term care a provide a legacy to their children. One of the best tools estate planning lawyers have in their tool box… Read more »
