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What Is a Sweetheart Trust?

A revocable living trust is an estate planning tool that lets you transfer assets to a trustee. You can serve as your own trustee, allowing you to keep control over the assets during your lifetime. Upon your death, a successor trustee (that you previously named)...

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Naming Guardians for Your Children

If you have minor children your first estate planning question is probably, “Who will take care of them if I die?” Naming a guardian for your child is a major decision. There are a number of things you need to consider before making your choice. Guardianships...

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How Much Does a Michigan Will Cost?

A common question every estate planning lawyer gets is, “How much do you charge for a will?” There is no single answer. A will is not a standardized product. Each will has unique characteristics based on a person's financial, family, and legal situation. Estate Planning Is...

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How Divorce Affects Your Michigan Estate Plan

Divorce is a complicated process of unwinding not just a marriage, but of property and other legal obligations. There are many legal issues to consider. For example, how does a divorce affect your will or other estate planning documents? Divorce (Partially) Revokes Your Will Married couples typically...

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The Role of an Executor in Michigan

An executor, or personal representative, carries out the terms and provisions of a deceased person’s will. Typically, the creator of the will (also known as the testator) will name an executor who is responsible for closing out the testator’s estate, which means taking care of...

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How to Create a Valid Trust

Estate planning is an individual process -- what works for one person might not be the best option for distributing your assets. For example, you don’t have to create a will in order to dispose of your assets after death. Another option is creating a...

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How Retirement Planning Affects Estate Planning

Most Michigan residents have some form of retirement savings. The most common types of retirement accounts are IRAs, 401(k) plans, and Roth IRA plans. Each has specific rules governing how and when withdrawals are made. In addition, there are significant estate planning implications for handling...

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Recognizing Scams

While anyone can fall prey to a scam, many con artists choose to focus their attention on the elderly. Michigan seniors may find themselves the target of any number of scams involving Medicare, insurance, and estate planning. It is important to recognize the signs of...

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