I Was A Child For A Day . . .

I generally don’t watch the news. Too much focus on all things downbeat, destructive and depressing. That’s just not for me. But as I was flipping through TV channels last week, I stopped to learn more about the sickening school shooting in Parkland, Florida. These young, innocent children went to school in the morning, maybe… Read More »

What is a Grantor Retained Annuity Trust?

What is an Annuity Trust

A Grantor Retained Annuity Trust, commonly called a GRAT, is a special type of irrevocable trust that minimizes the tax liability that usually accompanies intergenerational transfers of estate assets. Under a GRAT, an irrevocable trust is created for a certain term or period of time. The trust creator pays a tax when the trust is established. Assets are… Read More »

What is a Protective Trust?

What is a Protective Trust

“Protective trust” is actually an umbrella term that refers to various types of trusts that are put in place to protect a person’s estate and/or assets from taxation, bankruptcy, lawsuits, or other outside threats. The basic goal of a protective trust (also known as an asset-protection trust) is to ensure that trust income goes to the designated… Read More »

What is a Legacy Trust?

What is a Legacy Trust

Also known as a dynasty trust or wealth trust, a legacy trust is an irrevocable trust that lets the trustor set aside assets for future generations. It is generally considered to be a flexible asset protection and saving option that allows one to use funds for emergency situations while building an estate to pass on… Read More »

5 Reasons to Hire an Elder Law Attorney

5 Reasons to Hire an Elder Law Attorney

We all want to make sure that our elderly loved ones receive the best medical care. Something that is often overlooked, however, is ensuring that our loved ones receive the best legal advocacy as well. An elder law attorney can handle a variety of legal matters, including issues relating to: health care, long term and… Read More »

What Rights Does a Trust Beneficiary Have?

What Rights Does a Trust Beneficiary Have

A trust is a legal agreement between three parties: the trustor (many times called the grantor), trustee, and beneficiary or beneficiaries. The trustor creates the trust agreement; the trustee is responsible for managing the trust property that has been transferred into the trust; and, the beneficiaries receive the benefits of the property titled to the… Read More »

Estate Planning and Pets

Estate Planning and Pets

While pets are legally classified as property, to their owners they mean much more than simple possessions. For pet owners, the estate planning process should include what happens to the pets and other related issues. When planning for your pet’s future after your death, there are several estate planning options to consider. These include simple,… Read More »

Michigan Parkinson Foundation Offers Virtual Support Group

Please see the following email I received from the Michigan Parkinson Foundation.  The Foundation’s support groups are wonderful, but sometimes life gets in the way of attending a group meeting.  Now they are offering a “virtual meeting” where you can get the benefits of a Parkinson support group in the comfort of your own home. … Read More »

What is Right of Survivorship?

What is Right of Survivorship

Right of survivorship is essentially the power of the successor(s) of a deceased individual to acquire the property of the deceased upon his or her death. In other words, the right of survivorship determines what happens to a certain type of co-owned property after one of its owners dies. The right of survivorship is found… Read More »