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February 2012 Archives

Dispute over Rosa Parks estate in Michigan continues

A battle over the estate of Rosa Parks has made for big news in the world of estate planning. Civil rights legend and pioneer, Rosa Parks died six years ago, but the battle over her $8 million estate continues to this day. Late last year, this blog discussed the Michigan Supreme Court's decision to overturn an earlier ruling regarding the Parks estate. But now, the Michigan Supreme Court has released the details of a confidential settlement reached between the battling parties in 2007.

Entrepreneur adopts girlfriend to protect estate

Getting the financial house in order and managing an estate can be a complex and time-consuming operation. Even for many Michigan residents whose lifestyle is less ostentatious than others, estate planning is an important matter. But for one extremely wealthy polo club owner, estate planning was taken to a new level when he made the questionable move of adopting his adult girlfriend.

Estate planning is not a matter to be put off any longer

As baby boomers in Michigan grow older, asset protection and estate planning matters become increasingly important, and the good news is that now is an excellent time to begin estate planning.

New proposal aims to change requirements for IRA transfers

Michigan residents might have seen in the news that there may be changes to the law regarding inherited individual retirement accounts, or IRAs. The U.S. Senate Finance Committee Chairman, Max Baucus, has proposed stricter requirements for the transfer of IRA assets to beneficiaries. For now, however, the chairman said he would pull back from trying to officially alter the law.

Researchers: new treatment possible for Alzheimer's disease

Many readers in Detroit and throughout Oakland County are responsible for protecting the assets of vulnerable adults who suffer from Alzheimer's disease or some other form of dementia. These older adults are often especially vulnerable to being financially exploited, and if loved ones find out that undue influence or coercion has impacted the writing of a will, then the need for a will contest or some other form of probate litigation may arise.

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