As a trustee of a trust (i.e., the individual who manages and administers the assets of the trust), the law imposes certain duties that you must adhere to. In a previous blog post, we spoke about one of these duties:…
As we discussed in a prior blog, naming your minor children as beneficiaries of your assets can lead to some major problems, all of which are fixed by the living trust. Including a living trust in your estate plan, however,…
One of the more difficult decisions our clients make in the estate planning process is who to appoint as the successor trustee of their trust. As trustee, an individual or entity is responsible for gathering and managing trust assets, filing…
Retail fraud, better known as shoplifting, is a serious crime in the state of Michigan and can have lasting effects on a person’s future. For example, people convicted of retail fraud might have to disclose this conviction, regardless of degree,…
Many of our clients have minor children or other minor beneficiaries (e.g., nieces, nephews, godchildren) that they include in their estate plan. Our goal in advising these clients is to discuss the various ways that they can leave an inheritance…
In recent news, presidential candidate and current U.S. Senator Bernie Sanders has proposed what he is referring to as the “For the 99.8% Act.” The purpose of this Act would be to place an estate tax on the wealthiest Americans.…
One of the most common concerns we hear from clients who are parents with minor children is: How do I appoint a guardian for my children if I die while they are minors? What most clients fail to realize is…
Automobile accidents happen every day. In Michigan, leaving the scene of the accident, or failing to give identification at the scene of the accident, is a crime punishable by jail time and fines, regardless of whether you are at fault.…
DRAFT OR UPDATE YOUR ESTATE PLAN With the New Year upon us, many of us have reflected on the past year and made goals we are set on achieving in 2019. Year after year, the three most common resolutions are…
