Our regularly updated blog provides important information about estate planning in Michigan. Learn about key estate planning documents, as well as the special estate planning needs of blended families, singles, parents of special needs children, and unmarried couples in committed long-term relationships.
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No Uncapping of Taxes for Transfers by Michigan Lady Bird DeedThere has been lots of talk in the legal community about “uncapping” of real estate taxes. What is uncapping? Generally, whenever there is a “transfer of ownership” of real estate, the taxable value of that property “uncaps” in the year following the transfer to 50% of the property’s true cash value. In many cases, especially... Read More »
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There’s No Expiration Date on Entrepreneurship: The Joys of Starting a Business After You ‘Retire’As a nation, America is getting older. By 2030, 20% of Americans will be 65 or older. With people living longer than ever before and the baby boomers approaching retirement age en masse, older adults will continue to have a massive impact on the American economy at large. Normally, we think of seniors as people... Read More »
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Saving for Retirement: The Best StrategiesWhen you start working it can be difficult to fathom that one day you will be able to retire. While it may seem that retirement is many years away, for individuals in their 50’s and 60’s retirement can be a fast approaching reality. Ideally, people in this age group will have been preparing for retirement... Read More »
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An Education in Estate PlanningEducation is one of the most important aspects of estate planning. Families come to us with many questions about “what’s next,” or they simply want to know where to begin when it comes to estate planning. One of the biggest things we educate our clients on is the importance of updating their estate plan. This... Read More »
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Surprise Estate Donation for Michigan LibraryJames and Mary Jean Foye have gifted $923,000 of their estate to the library as part of their estate planning. Michigan Estate Plans.
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Discussing Estate Planning with ParentsTalking with your parents about their estate plans can be difficult. While this topic may be uncomfortable, this necessary conversation can be the beginning of creating a plan which will give them peace of mind about the future and honor their wishes. Here is some information about discussing estate planning with parents: Parent-child relationships can... Read More »
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Selecting a Personal Representative for your EstateAn estate often consists of everything a person has worked their entire lives to build. Therefore, planning for your estate is no small matter. In making plans for your estate, you will no doubt want the peace of mind that comes with knowing that all you have worked for will be distributed according to your... Read More »
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A Restaurant Where Grandma is ChefOne New York restaurant is attempting to recreate that family feeling by employing only grandmas as its chefs. Michigan Elder Law Attorney.
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Reasons to Set up a TrustWhen thinking about how to develop an estate plan you have probably considered devising a will which directs where your assets will go and states your final wishes concerning your estate and arrangements. Another estate planning device which could be of significant benefit to you is a trust. There are several different kinds of trusts... Read More »
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Undue Influence and its Impact on Estate PlanningAn unpleasant reality is there are some people in this world who are willing to manipulate other people for their own gain. These same individuals usually do not have qualms about exerting their influence over someone who is vulnerable in order to secure a financial benefit. Sadly, the vulnerable person may fall victim to this... Read More »