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February 2015 Archives

Michigan takes advantage of waiver in Medicaid expansion

One of the most commonly understood reasons for planning for the future is ensuring that there will be sufficient resources available to cover one's medical expenses. It is understood and even expected that medical expenses often increase with age, and these expenses can become a serious burden on both the individual needing the medical care and his or her family members. Although Medicaid planning is an important part of long term planning, it should not be the only part--especially with the frequent changes, both good and bad, to the Medicaid program.

For help in creating a Michigan will, turn to us

Regardless of the amount of assets you possess or the degree of your wealth, there are many benefits to creating a Michigan will before you pass away. You likely spent the majority of your life controlling your own affairs, so why not also make your wishes known regarding your property and estate after your death?

Taxation concepts related to Michigan trusts

Trusts are an important, yet commonly overlooked, part of Michigan estate planning. Many other people who are considering creating a trust for their estate planning needs do not understand the various tax implications associated with the different kinds of trusts. Choosing the correct trust for a person's needs requires understanding the relevant tax consequences, however, in addition to understanding the different ways each kind of trust functions and the different benefits.

What are the duties of an administrator in probate?

When a person's estate is being administered in probate, the process can be quite lengthy. Depending on the size of the decedent's estate and other factors, estate administration can last from several months to several years. The reason for the lengthy duration of the process is that many different things must be taken care of during probate administration. Many of these things are the responsibility of an estate administrator. For this reason, anyone asked to serve as the administrator of another's estate should understand what duties and obligations the role entails.

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