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Many investors focus on amassing as large a savings as possible, but some also want to create an estate plans to make sure that these assets are passed on to loved ones. By following some proven strategies, it is possible to reduce the amount of associated estate taxes. The…
This post provides an overview of digital assets by defining what a digital asset is and why digital asset planning is so important during the estate planning process. Digital asset defined A digital asset is an electronic record in which an individual has a right or an interest. Presently, the…
The Michigan Supreme Court recently decided the case of Hegadorn v. Dept. of Human Services, which involves the Medicaid spend down process. A “spend down” in this context refers to the process of reducing the assets of a person applying for Medicaid so the individual qualifies for Title XIX…
It’s understandable that people avoid estate planning. Plotting for what happens after we die can be a scary and uncomfortable thought process. To make sure that you receive the best care possible and that your loved ones receive assets from your estate, however, it is critical to create an…
As estate planning attorneys, we often meet prospective clients who understand the benefits of making a will and why it needs to be part of their estate plan. Their initial interest in a consultation is understanding the mechanics of the process – how is a will actually prepared. There are…
Our experienced estate planning lawyers have helped a number of people create estate plans that can be used to carry out their wishes. We have also encountered a number of clients who attempted to create online estate planning documents, but who ended up facing expensive and substantial obstacles. Do…
This is the second part of a series on the estate administration process and tasks an executor must perform in order to carry out the wishes of the deceased person’s will. The first step is obtaining a declaration that the will is valid. The second step is having the Surrogate’s…
Estate planning is one of the least understood areas of law. One of the commonly overlooked parts of estate planning is the number of people who have the potential to benefit from proper estate planning. The great value of estate planning is not that lets people define their legacies, it…
It is important to share details about your estate plan with your loved ones so that they can do their best to make sure that your estate goals can be carried out. Deciding what to share, however, can be difficult. This article discusses several of the important things that you…
Writing an estate plan is important, but it is not a once and done process. Instead, an estate plan must be reviewed and kept up to date to reflect a person’s goals. Failure to adequately update an estate plan has the potential to result in some very serious obstacles. The…