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July 2017 Archives

Concerns to address when drafting a power of attorney

As previously discussed, estate plans can include more than just a will. For this reason, everyone should understand the role powers of attorney can play, as they can be a crucial document to include in the estate planning process. While a power of attorney is a document full of potential that could protect the future health and financial needs of an individual, it is also a document that could have various pitfalls if not properly drafted and executed.

Helping you understand the benefits of a power of attorney

Whether we like it or not, we all age and will eventually die. While facing this reality is not always easy, especially when we are in our youth, we can take steps early on to prepare ourselves for elderly life. Because we never know when or if we will need temporary or long-term care at a nursing home, it is important to plan and prepare for this possibility from a financial perspective. In addition to getting your finances in order, it is also equally important to determine who you trust to make your financial and medical decisions if you are no longer able to make them for yourself.

Understanding the purpose of a marital trust

Getting married means making a wide variety of important decisions. And for some Michigan couples, it means protecting their future interests. While most married couples will go through the process of developing an estate plan together, this usually entails drafting a will and ensuring that their named beneficiaries match each other when it comes to specific assets and property. But what about taking steps to protect the other spouse in the event of one's own death? No matter what age one is or how long a marriage has lasted, it is important to take estate planning measures to protect the interests of both spouses in the event of incapacity or death.

3 warning signs of undue influence

Is your parent getting older and finalizing an estate plan? You might feel concerned about the well-being of your loved one during this time. If you are suspicious whether something is happening with the estate planning process, you should be aware of a term known as “undue influence.”

Protecting digital property in an estate plan

Life can be rather complex. It is difficult to pinpoint all the important facets, especially when it comes to protecting your future and the future for your heirs and beneficiaries. Because we are living in the digital age, estate planning means more than bequeathing your physical property and assets to heirs and named beneficiaries. An estate plan today needs to consider you existence online and how to protect those interests.

3 crucial estate plan changes to make after divorce

As you go through a divorce, your estate plan may be the furthest thing from your mind. Despite the financial and emotional turmoil, you must remember to update your estate plan. If you do not revisit your will or trust, your ex could inherit some of your assets. Do not make the mistake of putting this off.

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