One of the biggest challenges of discussing estate planning with your children in Michigan is the fact that it can be a very emotional topic. You may be worried about how your children will react to the news, or you may be concerned about their ability to handle the...
Estate Planning
Why you need an incapacity plan in Michigan
Many people don't think about the daily life risk of losing their ability to function independently. However, all it takes is a nasty blow to the head to incapacitate you. In this situation, you would be unable to make health care and financial decisions for yourself....
What is the difference between a TOD account and a trust?
Planning for the future by creating an estate plan is something that can benefit all Michigan residents. If you wish to protect certain property from probate, two options you can turn to are a transfer on death account or a revocable trust. Knowing the differences can...
The importance of an updated estate plan for the family
An unexpected death in a Michigan family can leave survivors in a precarious situation when an estate plan is incomplete or out of date. Family situations can change with time, which means it is vital for people to evaluate their estate plans at least annually. This...
What is a will, and why do you need one?
Michigan adults can benefit from having a will as part of their estate plan. It’s important to understand the role of a will and why you need one. What is a will? A will is a legal document that allows you to specify how you want things to be handled after your death....
Creating an estate plan is essential if you’re a millennial
If you're a millennial in Michigan, you may not have thought about creating an estate plan. As a legal adult, estate planning is essential to ensure your last wishes are met when you die. In addition, it's also critical to plan for the future if you become...
When should you update your estate plan?
Many people go over their estate regularly, usually when they review their business or personal financial plan. You can review your finances once a year, once a quarter, or anywhere in between. However, financial experts recommend reviewing your estate at least every...
Estate planning tips for new parents in Michigan
When you become a parent in Michigan, your life is no longer your own. You've taken a whole new level of responsibility for as long as you live and also after you're gone. And thus, your estate plans should change to accommodate your children's needs. Here's a look at...
Getting started on your financial plan
You don't have to dread getting started on your estate plan in Michigan. This is not a process that, by nature, needs to be lengthy, tedious, and contentious. The whole point of drawing up an estate plan is to protect and provide for your loved ones. It's a way of...
What you need in your estate planning checklist
Estate planning is one of the most important things you can do for yourself and your loved ones. Unfortunately, it can be a complex and confusing process. This checklist will help you get started on estate planning and make sure you have all your bases covered. Take...