Oakland County MI Estate Planning Law Blog

Probate court can seem like a mystery to many Michigan residents. After all, going through the probate process may be the first exposure a person has with the court system. But, when the need to go through this process arises, taking the right steps and having all the right information about one's legal options can make the process go smoother.

Most estates come with a bit of complexity, but, in Michigan, most are likely to go through what is known as unsupervised probate. This means that the probate court will not step in and review every little detail of how the estate is administered but will instead leave the process to the estate administrator. In the best-case scenarios, estates that are ushered through unsupervised probate can be concluded within about six months or so.

In September, rock and roll legend Ric Ocasek passed away in his mid-seventies. Ocasek suffered from a number of heart-related illnesses and was recovering from surgery when he died of natural causes. He was found by his wife, model Paulina Porizkova, from whom he had been estranged since 2017.

While at first this story may sound like a sad tale of love and loss in Hollywood, Michigan residents should be aware that this story has a complicated twist: Ocasek left Porizkova out of his will. Porizkova learned of the will after Ocasek's death, and, in the document, Ocasek claimed that his wife had abandoned him.

Trusts may seem like complicated estate planning tools, but, with the right help and a trustworthy legal counselor, a Michigan resident can confidently execute this important testamentary device. There are many different types of trusts that individuals can use to meet their estate planning goals. One popular form of trust is the AB trust, which is often used by married couples.

Married individuals may place their property into an AB trust and name their children as beneficiaries when they pass on. However, an AB trust allows the surviving spouse to use and even sell items of property in the trust that were owned by their deceased partner before their death. An AB trust protects the wealth and assets of the deceased spouse and preserves it for the decedent's beneficiaries, while also allowing the surviving spouse to use the assets to continue to live.

For some, the future is full of possibilities and opportunities for exploration, self-development, and growth. However, others take a more sober approach to the future and worry about what they cannot anticipate or control. Regardless of what mindset a Michigan reader has about the coming years, they should be aware that they can take some action to protect themselves, with a long-term care plan.

A long-term care plan is a plan for providing for one's own personal and medical needs in the future. Not everyone will be able to care for themselves when they reach an advanced age, and long-term care plans can help people get the services and support they will eventually require. Long-term care planning often requires individuals to look closely at their savings to determine what they can do to protect their future.