In Michigan, as in other states, the use of joint tenancy is one way to co-own property and allow it to pass outside of probate when one co-owner dies. However, it may or may not be the best choice, depending on one’s individual circumstances. What is Joint Tenancy? Joint tenancy is a type of property […]
If you find yourself in a position in which you need to act on behalf of another adult, like a parent, spouse, or adult, you need legal authority to do so. Two mechanisms for gaining such authority in Michigan are power of attorney and legal guardianship. What’s the difference? The biggest difference between a power […]
By now you know that your estate plan should include, at a bare minimum, a will. But what’s the difference between a piece of paper that says where you want your property to end up, and a valid will that will be upheld in court? One of the first tasks of the Probate Court when […]
How does the probate process begin? When a person dies owning assets in his or her name alone, an estate must be started by a personal representative to handle the decedent’s assets and take care of settling the decedent’s affairs. This is called the probate or estate administration process. The personal representative can be an […]
One of the greatest things you can leave your survivors is an organized estate. The time you spend now will help your loved ones to cope later, and will also ensure your wishes will be carried out. Here is a simplified checklist to help you get started on organizing your estate. It’s also a good idea […]
Estate planning is important for everyone, because it gives you the power to decide on your future in the event of death or disability. If you are concerned about what will happen to your properties after your death, you can contact a Michigan estate planning attorney who can discuss the advantages of estate planning with […]
Effective April 1, 2010, Michigan has a new law governing trusts set up here in our state. The trust law was overhauled to address gaps in current law, create uniformity between our trust law and that of other states, and make it easier for Michigan banks to appoint a local trustee to oversee trusts established here. Trust […]
Proper estate planning can grant you peace of mind and save your beneficiaries both time and expense in the event of your death. For estate planning to do this, however, you must have a detailed conversation with your attorney about your current assets, your plans for the future, and your estate goals. With this information […]
Many people have a mistaken belief that a Will serves any number of purposes. Their beliefs have sprung up from various sources and have been perpetuated over many years. Some of these misconceptions are as follows: If I have a Will I avoid the probate court system. My Will controls the disposition of all my […]
