When Is the Best Time to Develop an Estate Plan? Right now! If you do not have an estate plan, right now is the best time for you to develop an estate plan. Without an estate plan, your family could pay unnecessary taxes and expenses, they may need to wait longer for access to funds… Read more »
A common myth about trusts is that a revocable living trust protects the assets from your creditors. However, revocable living trusts do not protect the assets from your creditors. A revocable living trust does not offer asset protection for your heirs. An irrevocable trust does offer asset protection, but many people are nervous about creating… Read more »
Every adult needs a will. Even if you do not own real estate, have children, or you are single, you need a will to ensure that your final estate is distributed according to your wishes. Having a will makes it easier for your loved ones to finalize your financial affairs. It also prevents the state… Read more »
Parents of young children never want to think about passing away before their children are old enough to take care of themselves. Our job as a parent is to provide care, guidance, and support for our children until our children are capable of taking care of themselves. Unfortunately, some parents will not live long enough… Read more »
There’s a big difference between having all the right estate planning documents, and having the right plan that works for you. At the Elder Care Firm, we take the time to go through what your needs and goals are, and tailor a plan specifically for you. In our workshops, we talk about the difference between documents… Read more »
Estate planning is important for everyone. However, if you are a single parent, your estate plan is as much for your children as it is for you. You need to take steps to ensure that your children are cared for if something prevents you from caring for your children yourself. A Michigan estate planning attorney can… Read more »
There Are 3 ways to avoid probate in Michigan and only 3 ways. Watch this short video for an explanation of what those 3 ways are. Many people know that they want to avoid probate because it’s costly, it’s time consuming and is public. In Michigan, it takes at least 5 months to go through… Read more »
Most people know that they want to avoid probate in Michigan, the question we get as Oakland County Probate Lawyers is “How to avoid probate?” Probate is easily avoidable when you understand how estate administration works, which is the process of getting assets out of your name when you pass away. If you set things… Read more »
This is a common question for many clients as they prepare to probate a loved one’s estate. Unfortunately, there is not a set timeline for all estates. While many estates follow a predictable timeline, your situation may be different from another person’s situation. Numerous factors may lengthen the probate process. Simple estates may be settled… Read more »
As a Michigan estate planning lawyer, I see families and other attorneys do all kinds of weird things with their home. The family home is one of the assets that are mishandled the most. For example, many families have paid thousands of dollars for a trust based estate plan, but their family will still have to… Read more »