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April 2017 Archives

Once granted can powers of attorney be revoked?

It is a difficult decision, naming a person to act as a personal representative to assist with financial matters or in the event one becomes incapacitated. After the choice is made and the legal documents completed, can powers of attorney be revoked if the agent is overstepping or not performing his or her duties appropriately? Thankfully, this is something for which the laws in Michigan and elsewhere do allow.

What you don't know about a Will

I often receive calls where an individual says to me, "Nick, I want a Will" or "I just need a Will".  I in turn tell the caller that while everyone should have one, a Will - will not keep a loved one out of court.

Get help with a generation skipping trust administration

Generation skipping trusts can be a great way to avoid having your assets taxed more than is necessary. Making sure your beneficiaries receive as much as possible is certainly an understandable goal. This week's column will discuss what this type of trust is and why it can prove beneficial to certain Michigan residents. It will also go over how an attorney can assist with the trust administration.

Is changing a house deed a good way to avoid probate litigation?

When going through the estate planning process, it is understandable that one would want to do everything possible to help avoid the need for probate when it comes time for the estate to be administered. One way that some Michigan residents may try to prevent their estate from going through probate litigation is by adding a child or other family member to their house deeds. There are pros and cons to doing this, though.

How to select an executor

You have considered how to divide your assets among heirs, learned how to disinherit and designated guardians for any dependents. Do not forget to choose your executor, which is one of the most important elements of a will. It is a large job that is very complex, so learn how to choose the right one.

Everyone Needs an Estate Plan

Everyone needs an Estate Plan, and here is why.  Everyone knows that there are two certainties in life, death and taxes.  Planning for our death and what will happen after our death is a morbid topic that no one likes to think about or discuss.  But no one lives forever.  So it is critically important that you think about what you want to happen when you pass away, and discuss your wishes with your family and an estate planning attorney.  

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