For residents of Grand Rapids, Michigan who are thinking about estate planning and, in particular, are thinking about options concerning their pensions, it is important to understand how estate planning is connection to decisions about your pension. First, what is a pension? Is this something...
Read MoreMany people create a will or a trust prior to their death, both of which can be used to leave assets and property to beneficiaries upon the creator’s death. While most people have the foresight to include all of their property within a trust or...
Read MoreFor business owners in Michigan, planning for their business’ future after their death is an important consideration. This article will consider what happens to a Michigan business after its owner’s death, the process of transferring a business, what happens when a business is not transferred...
Read MoreAsset protection is an important consideration for many individuals, particularly high net worth individuals and owners of businesses. However, asset protection is not limited to the wealthy alone; asset protection can be used for myriad things, including protecting your assets from any future lawsuits, ensuring...
Read MoreNobody wants to face a Medicaid crisis in which an elderly loved one unexpectedly requires expensive, long-term care but is ineligible for government assistance. However, all too often, residents of Grand Rapids suddenly require nursing home care and are told that they have too many...
Read MoreAlmost inevitably, there are final expenses to pay and accounts to settle when a loved one dies. So, life insurance is an integral part of an estate plan, because it gives the personal representative funds to deal with these items. Certain kinds of life insurance...
Read MoreA New York woman made headlines about a year ago when she revised her will to leave $1 million to her Maltese terrier.When 60-year-old Rose Ann Bolasny dies, Bella Mia will inherit a vacation home, a trust fund, and jewelry. The dog, whom Ms. Bolasny...
Read MoreLegally, minors cannot own property or make contracts, and that may be the best reason to partner with an experienced trust attorney regarding such vehicles for minor inheritance. There are some other reasons as well, because settlors (people who make trusts) may want to create...
Read MoreA “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...
Read MoreBenjamin 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...
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