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Wills Archives

Famous musician's will details his wishes for use of his work

Although our Oakland County readers would have to be of a certain generation and have a certain musical taste to know who Adam Yauch was, some interesting news has developed in the wake of his recent and untimely death which could shed some light on key aspects of estate planning. Yauch was more popularly known as MCA, a founding member of the iconic and genre shattering group known as the Beastie Boys. The group's music developed an intense following beginning in the 1980's, and they became even more famous because they were some of the first Caucasian rappers to gain mainstream credibility. Mega-stars like Detroit native Marshall Mathers, aka Eminem, have said that the Beastie Boys were a huge influence and inspiration to them.

What exactly is an "estate"?

When Michigan residents hear the term "estate plan," some may think of it as a legal term applying only to wealthy people. On the same token, people might think of an estate plan as a stack of documents that directs the distribution of enormous amounts of assets and property. However, what these same people may not know is that drawing up a document as simple as a will is the beginning of virtually every estate planning process.

What happens to your assets if you don't have a will?

Previous posts have mentioned that Michigan is one state making progress on the simplification of estate administration and distribution of assets. Estate administration is hard enough without having to work around complex state laws and requirements.

Whitney Houston's estate plan a reminder for Michigan residents

Readers in Michigan have likely heard about the untimely death of Whitney Houston. While the death of the great pop star is certainly a tragedy, it has served as a reminder to everyone, young and old, of the importance of a well-crafted estate plan.

Researchers: new treatment possible for Alzheimer's disease

Many readers in Detroit and throughout Oakland County are responsible for protecting the assets of vulnerable adults who suffer from Alzheimer's disease or some other form of dementia. These older adults are often especially vulnerable to being financially exploited, and if loved ones find out that undue influence or coercion has impacted the writing of a will, then the need for a will contest or some other form of probate litigation may arise.

Modern estate planning: how to address online content?

Many Michigan residents may already have an estate plan which they believe is sufficient to their end-of-life wishes. But sometimes estate plans that seem water-tight are filled with tiny holes that can develop into larger ones. To take this holey metaphor further, the puncturing object in some estate plans may be technology itself.

Updating trusts and guardianships for Michigan residents

For many Oakland County residents, estate planning is a crucial aspect of financial management. However, mistakes in the estate planning process happen all too frequently. There are some especially common mistakes that a majority of people make when hashing out their estate plans. Whether it involves guardianships or trusts, an estate plan can cause a multitude of problems if due care isn't taken in establishing details.

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