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News & Helpful Articles

Different Kinds of Michigan Trusts

A “trust” is something you might associate with wealthy socialite families. But trusts are actually a common Michigan estate planning device used by individuals from all social and economic backgrounds. There are, in fact, many different kinds of trusts that may be helpful to your own estate planning depending on the needs of you and your family. Revocable Trusts The most common type of estate planning trust is an “inter vivos” or revocable living trust. This is...

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What You Need to Know About Taxes and Estate Planning

Benjamin Franklin is often credited with coining the expression that “in this world nothing can be said to be certain, except death and taxes.” Indeed, the former does not necessarily end the latter. Even after death, the federal government may assess certain taxes against a deceased individual’s property—but proper estate planning can reduce or eliminate many of these obligations. What Is the Estate Tax? You have probably heard the phrase “estate tax” (or the more politically charged...

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Coping With Memory Loss

It is not unusual for an elderly parent or other relative to experience an occasional memory lapse. But frequent or prolonged memory lapses may indicate the existence of a more serious problem. Memory loss is often the first sign of dementia, which can affect an individual to the point where they can no longer take care of themselves or manage their own affairs. What Causes Memory Loss? Memory loss is not simply a function of getting older....

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Different Kinds of Assets to Consider When Estate Planning

Estate planning is important for everyone in Michigan, regardless of your annual income or the amount of property you own. There are many different kinds of assets that exist, and through estate planning, you can help to minimize the financial burdens associated with certain assets, and you can also help to protect certain assets for your beneficiaries. Before you begin the estate planning process, you should compile a list of all of your assets. What...

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How to Avoid Estate Planning Fraud

Estate planning fraud has become an increasingly common problem in recent decades, especially for the elderly. Fortunately, fraud can be detected at an early stage through careful planning and taking precautions, so if you are concerned that an elderly relative is being taken advantage of, it is vital to speak with an experienced estate planning attorney who can ensure that his or her interests are protected. Fraudulent Acts Elderly individuals are especially vulnerable to being...

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Step-by-Step Guide through the Probate Process

If you have recently experienced the death of a loved one, you may have questions about the probate process. For many residents of the Grand Rapids area, the term “probate” is not one with which most of us are familiar. Yet when you are dealing with the estate of a family member, it is important to understand precisely what probate is, how probate works and when it is used, and what the process entails. Generally...

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Finding the Perfect Long-Term Care for a Family Member

Deciding where a loved one will reside after they are no longer able to care for themselves can be a difficult and emotional process. However, making plans for the future is often the best way to ensure an elderly relative will receive the best medical care and support possible. There are a variety of different types of assisted living facilities that can offer this care, including homes that accept insurance and those that do not....

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