Articles Posted in Estate Planning

We love our pets, but many of us are still uncomfortable with confronting end of life issues. When accidents occur and people lack essential estate planning tools, it is very common for pets to being end up being sent to shelters or rescue centers.

To avoid this unpleasant idea and to make sure that a pet is cared for following a person’s death or incapacity, some people establish a “pet trust”. Being a relatively uncommon type of estate planning tool, however, people often have questions about just what these trusts include.

As a result, this article discusses six important things that you should know about pet trusts.

Many people understand that estate planning is important, but nobody wants to tackle issues that address end of life because often that means accepting that you too will die.

If you get nervous or uncomfortable when it comes to estate planning issues, you aren’t the only one. Failure to address estate planning issues, however, can lead to a number of complications if you are suddenly pass away or become incapacitated.

As a result, it is critical to make sure you perform adequate estate planning. This article offers some advice about tackling the various emotional challenges that are frequently involved with estate planning.

Regardless of age, for parents who are interested in estate planning, the most pressing issue is almost always caring for children. The expectations that a parent has for their child often end up shaping the estate plans that get written.

For single parents, these conversations are often more critical. Instead of leaving behind a spouse who will be able to make sure that the child or children is cared for, the death of a single parent has the potential to result in many more obstacles being suddenly created for a child.

Because the Census Bureau reports that there are 13.6 million single parents in the United States, this article reviews some of the estate planning documents that can be particularly helpful for adults in this situation.

When major life events like marriage and divorce occur, it is a wise idea to review your estate plan. That’s because these life events have the potential to significantly change a person’s estate plan.

The purpose of this article is to review some key factors that you should consider about estate planning when you recently got married or divorced.

Estate Planning Issues Following Marriage

After creating an estate plan, it is easy to fall into the trap of thinking that you have now done everything necessary to plan for the future. In many cases, however, people fail to make sure that all beneficiary designations as well as assets are titled in a way to reflect your plans.

It is critical to make sure that these assets are properly titled because when people die, they often have two types of estates: those that must be probated as well as “non-probate” assets.

Not Everything Passes through a Will

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 Medicaid coverage. Spend down also refers to reducing a Medicaid applicant’s monthly income so a person’s income makes them eligible for Medicaid.

How the Three Cases in Hegadorn Arose

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 estate plan that will be able to successfully carry out your wishes.

To avoid having to perform estate planning, there are a number of lies that people tell about themselves. By understanding the truth behind these lies, it is possible to greatly increase your chances of making the estate planning process as successful as possible.

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 it yourself estate planning documents, however, can contain a number of shortcomings ranging from small errors including typos to much larger mistakes including estate planning documents that miss critical estate plan clauses.

The Challenge Presented by Online Estate Planning