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All parents want to make sure their young children are taken care of if the unthinkable happens. In addition to ensuring that their estate is used to take care of their children, parents will also need to include in their estate plan the nomination o…
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No one wants their loved ones to argue after they are gone. Meeting with your family now to discuss your estate plan and the reasons behind it can help prevent conflicts and tension in the future. As you go through the estate planning process and fin…
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If you have been named trustee of a loved one’s trust, you may be wondering what is involved in trust administration. Trust administration is the crucial process of properly managing and distributing the trust’s assets in accordance with the wish…
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Sometimes married couples creating trusts want to have a little more control over their assets after one of them is gone while still making sure to take care of the surviving spouse. A qualified terminable interest property (QTIP) trust serves the du…
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Everyone’s life is marked by various stages, and proper estate planning may mean different things at different ages. In general, estate planning needs differ based on one’s place in their individual life journey. When you are a college student wi…
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You took all the right steps. You set up your estate plan, made sure your final wishes were clear, and provided for your beneficiaries upon your passing. But what happens in Michigan when your beneficiary passes away before you and you don’t update…
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Many people have an estate plan on their to-do list, but what happens if you do not get around to it before you pass away? The answer is that your loved ones could face several problems that lead to wasted time, expense, and conflict amongst themselv…
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No one wants to think about their parents passing away. However, having difficult conversations now about your parents’ estate plan (or lack thereof) can provide peace of mind for your parents and their loved ones for when that day comes. Many peop…
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You gave your spouse your heart, but did you know that you can also give them unlimited gifts during your life or after your death that are free of gift and estate tax? The “unlimited marital deduction” is an important tool for transferring subst…
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Why is estate planning vital for unmarried couples? You may think that you don’t need to worry about estate planning until after you are married, but estate planning for unmarried couples is just as important as it is for their married counterparts…
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