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April 2017 Archives

What happens when a loved one leaves behind two wills?

It is important for people in Bloomfield Hills to be careful and diligent when planning their estates. It is not unusual for people to update their wills when life events happen, such as the birth or death of family members, changes in income and assets, and changes of heart as to who they want to inherit their property. But, if a situation arises where someone dies and leaves behind multiple wills, loved ones may be confused about how to handle the situation.

Helping you draft the proper trusts for your estate plan

Drafting a trust is often a paramount step to take in an estate plan, especially if individuals seek to protect their assets and property. There are various types of trusts available. This can often make it challenging when it comes to deciding what trusts to include in an estate plan.

Why would an heir or beneficiary challenge a will?

Drafting a will can be a complex process. While it might be difficult for Michigan residents to initiate the estate planning process, once started individuals tend to make details wills. This helps ensure that their wishes and desires after their death are followed. While these legal documents can seem clear and precise to the creators, when a will is executed the heirs and beneficiaries may not agree with the terms. This could result in a will contest.

Factors to consider in the long-term care planning process

It can be hard for some Michigan residents to imagine a point in their lives when they will not be able to manage their finances or even care for themselves. Nonetheless, this is a reality faced by many aging individuals. Fortunately, the long-term care planning process can begin even in your 20s and 30s.

Selling real estate during the probate process

While the estate planning process is used by many residents in Michigan to prepare for what will happen to assets upon death, it is often difficult to prepare for what could occur if the probate process is initiated. When heirs and beneficiaries hear that the estate administration has begun for a deceased loved one, those individuals may expect to receive what the will details. However, if a will doesn't touch on all assets and properties, the probate process must occur.

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