» Estate Planning

In a couple of weeks, Lee Flaherty will be taking part in a dinner and presentation hosted by the Financial and Estate Planning Council for Metro Detroit. Attendees will have a rare opportunity to enjoy the GM Heritage Center, which serves as “… Read More

“Gifting” is an important estate planning strategy for individuals who wish to spend down their potentially taxable estates or just want to share what they have with others. Federal gift tax is imposed on the giver of a gift (most commonly, money… Read More

You May Lose Consciousness My client came to me asking for an estate plan because her husband was recently diagnosed with Alzheimer’s. She wanted to make sure they had powers of attorney and patient advocate designations in place, anticipating Husb… Read More

You are not a United States Citizen You probably thought that because you are in the United States, abiding by all of our rules, blissfully married to your U.S. citizen spouse that all of your spouse’s assets will transfer to you seamlessly upon yo… Read More

You Mean My Rotten Relatives Will Get My Stuff? I had a couple come into my office to discuss estate planning last week. The husband has six children and twelve grandchildren. He does not have a relationship with three kids and four grandkids. He bel… Read More

You may remember our earlier posts about the importance of powers of attorney and patient advocate documents for your children once they turn 18. At age 18, parents can no longer access their child’s medical, school, or financial records and inform… Read More

I want to know if your adult children are productive citizens or drains on your bank account. Are they employed or underemployed? Are they shrewd investors or spendthrifts? Are all of your kids similar, or do their financial situations and personalit… Read More

Michigan’s lame duck legislature passed another notable statute that attempts to abolish dower in our state. “Dower” is about as obscure as it sounds, and it has little relevance in today’s society. It’s a legal concept borrowed from Britis… Read More