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February 2017 Archives

What is the purpose of probate administration?

The idea of having to go through the probate process after a loved one dies can seem unbearable. It is something that can take months or longer to finish, depending on the complexity of the estate in question. While it may not be something Michigan residents want to do, probate administration is required for most estates before any assets will be distributed to beneficiaries.

What are Michigan laws regarding probate litigation?

The administering of a loved one's estate can be a confusing thing, especially if probate is necessary. While the thought of probate litigation can be somewhat frightening, it usually only feels that way because people do not fully understand its purpose or how it works. To help ease some fears, this week's column will address Michigan probate laws.

Estate planning is not just for those who are wealthy

Many people in Michigan and elsewhere do not want to take the time to think about end-of-life matters or what will happen to their loved ones or assets in the event of incapacitation. For some, it is a lack of significant assets or income that makes it feel unnecessary. However, estate planning is not just for those who are wealthy. It has a place and a purpose for everyone and will only prove beneficial in the long run.

Michigan estate planning: Trust options

Figuring out what to include in an estate plan can be challenging and downright confusing at times. There is a lot of information to consider and numerous options available for protecting assets and beneficiaries. For many Michigan residents going through the estate planning process, setting up trusts may be the way to go in order to achieve all the desired protections. But what kind of trust is best?

The basics of estate planning

While no person likes to think of his or her own life ending, it is often the smart ones who prepare for the future and events that are out of their control. Your decision to create a specific estate plan can make all the difference in what you leave behind for your children or other family members. After you have worked so hard to get where you are and earn all that you have, you should have control over where it goes after you die. Understanding the basics of estate planning can help you determine what will work best for you.

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