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Estate Planning Archives

Why is estate planning important for young adults?

When going to college, getting started in one's profession, getting married or starting a family, one of the last things on a young person's mind is his or her mortality. Estate planning is not meant for young people after all, right? Actually, there are reasons as to why young adults in Michigan would benefit from having the legal protections offered in an estate plan in place.

When estate planning, young parents may want to name a guardian

Preparing one's estate is not something that many young parents in Michigan really feel is necessary. They generally have their hands full and it just does not seem like an important thing to do. The truth of the matter is, for people with minor children, estate planning really should not be put off as doing so will leave their children unprotected.

Estate planning for those who do not have children

According to the 2016 Rocket Lawyer study, 64 percent of Americans do not have at least a will in place. This is a rather large group of people who are leaving their assets unprotected should they pass on, whether expectedly or unexpectedly. Why do so many people in Michigan and elsewhere fail to complete the estate planning process? For some, the answer is that they do not have children so they do not feel it is necessary.

Michigan estate planning: Don't forget to fund a trust

Creating a trust takes a lot of time and effort. Unfortunately, there are those in Michigan and elsewhere who, after leaving their attorney's office, fail to take the steps necessary to fund their trusts. Do not make this estate planning mistake.

Michigan estate planning: Making a valid will

While everyone may not need or even want a will, for those who do, having one in place is a great way to make sure that their estates are protected at the time of their deaths. Creating a will, a valid will, can take time, but it is time that may be considered well spent if it means that the document is legally binding. Michigan residents who need help with this can turn to an estate planning attorney in order to make sure they have done all that is necessary to create a valid document.

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.

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.  

Estate planning and avoiding will challenges

Wanting to make the distribution of one's estate after his or her passing as easy as possible is an understandable goal. It is already a difficult time for loved ones -- one that may only be made more challenging when prolonged if a will is contested. There are things Michigan residents can do when going through the estate planning process to help avoid will challenges.

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