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March 2013 Archives

Claim against director's estate could lead to probate litigation

For many Americans, and perhaps some of our Michigan readers, the probate process can be a bit of a mystery. Of course most people know that they should at least have a will, even those people who don't have one. The problem, however, is that many people simply do not know what will actually take place when the time to use that will comes around. Although anyone planning out and executing an estate plan usually does so with the express goal of avoiding probate litigation, that is not always possible. Estate administration can be tricky at times, but as long as the estate planning documents are clear and the executor is competent, the whole process will generally go much more smoothly.

When is the right time to consider estate planning?

Many of our Michigan readers may often think, "I know I should consider my options for estate planning, but when is the right time?." There are definitely certain times in life when a person is more likely to think about getting their affairs in order. For instance, watching relatives going through probate litigation in a will contest could create a sense of urgency to do better yourself in order to avoid such a situation. For others, the birth of a child could provide a perfect reminder that one of the most important aspects of a will for someone with minor children is to name guardians in the unfortunate event of an untimely death. In the latter case, a recent article provided a few tips for those young adults who are getting started in life and considering an estate plan.

Do you have the right powers of attorney in your estate plan?

Previous posts here have detailed how important it is to have a sound, comprehensive estate plan. But, what exactly is the most important part? Some would argue that it is the will, some that a certain trust is a priority. It really does just depend on the situation, but one part that can make the most difference during a critical time is the inclusion of powers of attorney.

The "blended family" - how will it affect your estate plan?

Over the past few decades our society has seen the rise of what is known as the "blended family." Think of "The Brady Bunch" here - a blended family is when a couple gets married after they were previously married to someone else with whom they had children. The blended family is a household where the re-married couple and all of their children are living together. Although this may sound like a good time for everyone involved, there is the potential for conflict and controversy in a blended family, maybe even more so than in a traditional family. And the conflict could rise to dangerous levels when the issue of estate planning comes up.

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