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Trusts Archives

Use a trust to protect your family

An estate plan is important for every Michigan resident. However, how that estate plan looks will vary depending on the individual circumstances of each resident. Often, an estate plan includes a will along with other estate planning documents. These documents may help to explain how a person wants to distribute the person's assets following the person's death.

Competency questioned in trust case

Michigan residents have a lot of flexibility when it comes to their estate plans. By taking advantage of the many different estate planning tools available, people can make the most of their assets. This can include the use of many types of trusts.

What is a Qualified Personal Residence Trust?

There are many ways for Michigan families to plan their estates. The specific estate planning tools that are necessary for a particular family will depend on the facts in each case. It is important for families in Michigan to understand all of their options when it comes to estate planning. There are many considerations that must be taken into account as estate planning is completed.

Using trusts to lower estate taxes

When people think about their lives, they may think about their relationships and the people they love. For many people, thinking about their wealth is not the first thing that comes to mind when they think about leaving this world. While thinking about one's own death can be difficult, it is important for individuals in Michigan to think about what will happen to their assets and their family should they pass away. People might like to think that these issues will work themselves out. However, complex estate planning often needs to be done in order for people to protect themselves and their families.

Rest assured that your trust has been properly created and funded

Michigan residents need to plan for their future. Estate planning is an important part of every individual's life. Without an estate plan, people's assets may not be distributed the way that they would like them to be. Instead, a person's assets will be left to intestacy laws in the state.

Trusts can be used to lower impact of rising interest rates

It is important for Michigan residents to understand the economic climate that the country is facing. By understanding big picture issues, people can better plan how to use these situations to their advantage. The past decade, America has seen a deep recession and an economic recovery. While people may not realize it, this has a huge effect on their estate plans. A big part of estate planning must include how a person's assets will be distributed after the person has passed.

Funding a living trust

A trust can be an important part of a person's estate plan. People can rely on the terms of the trusts to carry out their wishes after they have passed away. A trust may have many other benefits for individuals in Michigan and for their families.

Do charitable trusts have a tax advantage?

When people are estate planning a Michigan, they often need to determine how to distribute their assets following their deaths. People have many options when it comes to asset distribution. In some cases, people may choose to give their assets to family and friends. However, people may also want to give to those in need. One way to do this is through the use of a charitable trust.

How is a qualified domestic trust taxed?

When a couple is married, they generally pool their resources together in order to accumulate wealth. They may use these resources to raise a family, purchase property or support themselves. As people approach their retirement, their assets may be significant. They may rely on these assets to support them as they move away from working.

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