Estate planning is an important part of protecting one's family and estate. Upon death, the Michigan resident's assets will be distributed to others. How this is handled and who receives what is often part of the estate plan. As such, there are a number of aspects, including trust and probate administration, that need to be considered.
Trust and probate administration part of estate planning
Proper estate planning requires periodic reviews
Many Michigan residents recognize the need to create an estate plan. This is the overall plan designed to inform loved ones, medical professionals and the courts of the individual's desires for end-of-life care and the final disposition of one's assets. One often takes great care in establishing the plan and devising the proper documents. However, this is not the end of the process. In addition, reviewing and revising these documents as necessary is an important part of the estate planning process.
Finding long-term care plans for elderly parents ensures care
If you are an adult child of parents who are senior citizens, you may already be worried about your parents' care in the coming years. Still, broaching the subject with them can be a minefield in some families. Learn how you can open the doors of communication on estate planning and assure that your parents get the help that they need.
Financial planning key to stability after divorce
Financial planning is important throughout various phases of one's life. Many times, decisions that can have lasting financial implications are made based on emotion. This is often the case when a Michigan resident decides to divorce.
Money and divorce
In many Michigan families, the home is the central focal point for many decisions. Couples spend time selecting the home, taking care of it and building a life in it. Then, when this life is altered by divorce, the dilemma of who gets the home can become an issue.
I’m a divorcing father. What are my child custody rights?
Child custody looks different from state to state, but regardless of location most people assume custody will be awarded to the mother in a divorce. What rights do fathers have in the custody process?
