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Powers of Attorney Archives

Estate planning for Michigan same-sex couples: Powers of attorney

One of the most talked-about news stories in recent years has centered around same-sex marriage. During this time, a wave of states has approved same-sex unions through legislative initiatives or court decisions. However, not every state recognizes same-sex unions, which obviously has implications for estate planning.

Tipping point: Deciding when to activate powers of attorney

Completing a will is a critical juncture in estate planning, but it may not be wise to make it the first and only step in the process. As we've covered on this blog, there are a handful of documents that can effectively stand alongside and support a will. Namely, creating power of attorney plans is a critical step for many people.

'Living wills' don't carry legal force in Michigan

Taking the time to make an estate plan is often a very big step for many people. No one likes to think about decisions related to the end of life, which is a sentiment that might be shared among many young people. However, failing to formalize critical plans -- especially in terms of health care -- can create a lot of frustration and pain for loved ones.

Power of attorney is important for everyone - even young adults

Many Michigan residents may think that estate planning is something that only older Americans need to worry about. This type of thinking can come from the view that an estate plan's main purpose is to distribute a person's assets after they die. While there is some truth to that view, there are many more components of an estate plan that need to be considered. And, as a recent article pointed out, young people - even 18-year-olds - would probably benefit from having at least a basic estate plan in place.

A "deadly sin" to leave out powers of attorney from estate plan?

It is common for many people to associate estate planning with preparing for the distribution of assets after death. While this is indeed one of the main reasons for a Michigan resident to have an estate plan drafted, there are many aspects of the plan that will address events that could be possible before a person's death. This is where the power of attorney documents come into play.

Deciding who to appoint as power of attorney is a crucial point

There is a lot that a Michigan resident needs to do in order to put together a comprehensive estate plan. But, for the most part, there is one overarching requirement: making decisions. The process of estate planning is all about making decisions. From determining how to distribute assets to assessing the pros and cons of trusts, and much more, drafting and executing an estate plan is essentially a series of decisions to be made. However, some decisions are more important than others. For instance, how does a Michigan resident decide who to appoint to make decisions in their place?

Don't overlook powers of attorney in an estate plan

Most people know that they should have an estate plan. However, statistics are routinely reported reflecting the fact that many people still don't have the necessary estate planning documents even though they know they should. Like many other tasks, some people avoid estate planning simply because they don't know what to do or which documents apply to their particular situation. A recent article recognized this problem and sought to educate readers on what exactly needs to be in a comprehensive estate plan - in most cases.

Powers of attorney in every estate plan? Better safe than sorry

What do I need to include in my estate plan? This is a question that many of our Michigan readers will be asking themselves at some point when they begin the process of putting together the necessary documents for their unique situations. Every estate plan is different. Does everyone need to use some kind of trust in their estate plan? Not necessarily, though trusts are great for fulfilling certain needs. However, almost without exception, two important documents that need to be included in a Michigan resident's estate plan are a durable power of attorney and a health care power of attorney.

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.

Powers of attorney - more than just a side-note in an estate plan

There are times in life, perhaps in some of our Michigan readers' lives, when a tragedy will bring family members together. An unfortunate situation, such as a car accident or a prolonged terminal illness, can lead to family members gathering at the hospital, hoping for bits of news from doctors and asking themselves what they can do to help. In the most dire of situations, health care professionals may approach the family members for a decision on what course of medical treatment should be rendered. If the incapacitated person is without the right kind of power of attorney, those moments could lead to fractious and fruitless discussions amongst the family members.

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