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Estate Administration & Probate Archives

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.

Michigan probate ruling overturned in Rosa Parks case

Oakland County residents will be interested to hear of a recent court ruling with regard to the estate of the late civil rights icon Rosa Parks. In what was said to be a sternly written order, the Michigan Supreme Court overturned a previous decision handed down by a Wayne County probate judge and the Michigan Court of Appeals. The original probate dispute centered on a $10 million memorabilia collection and the intellectual property rights of the late civil rights activist.

Updating trusts and guardianships for Michigan residents

For many Oakland County residents, estate planning is a crucial aspect of financial management. However, mistakes in the estate planning process happen all too frequently. There are some especially common mistakes that a majority of people make when hashing out their estate plans. Whether it involves guardianships or trusts, an estate plan can cause a multitude of problems if due care isn't taken in establishing details.

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