Are you creating a trust in Michigan for managing your assets? If so, you need to spend some careful time thinking about the role of trustee. For any trustee who is installed in this important role, it is important that they be familiar with the trust
Does a Trust Prevent Court Control of Assets if I’m Incapacitated?
Does a Michigan living trust avoid probate and prevent control by the court if I'm incapacitated? If something happens to you and you're no longer able to take actions or make decisions for yourself, you'll want to have estate planning strategies and tool
When Updating My Trust, Can I Write on the Original Document?
If you already put together a trust in Michigan but want to change it, this is a big benefit to using revocable tools in the first place. But it’s not as simple as crossing out parts that you no longer want to honor. With an older trust, you need the help
What Are the Main Reasons to Get a Living Trust in Michigan?
One of the most common reasons to select a living trust in Michigan is to ensure that your wishes are properly followed during the course of your life and after you pass away. Property that is stored inside a living trust does not go through probate co
What Are the Key Components of a Trust?
A trust is an estate planning tool that comes in many different varieties, all designed to help you accomplish various aspects of your estate plan. A trust needs to have a few crucial elements in order to accomplish these goals and to help you with the ma
How Does It Work to Fund a Trust in Michigan?
In order for a revocable living trust to accomplish its goals appropriately, the trust maker has to do more than create the document and sign the agreement. The settlor then needs to take an additional step after identifying the property that will be plac
A Quick Guide to Setting Up a Special Needs Trust
A special needs trust is an important component of how you protect a loved one who is reliant on government benefits such as Supplemental Security Income and Medicaid. Tapping into these benefits while still providing for your loved one can be done throug
Does a Trust Help with Property Distribution?
Whether you've had the unfortunate experience of being a beneficiary or a family member to a loved one who didn't have estate planning or you simply know this is part of the process of being an adult, estate planning helps you to determine the most import
What Is a Trust and How Can It Be Used as a Component of Your Estate Plan?
If you have the essentials of an estate plan, such as a will and a power of attorney document, this might not go far enough to accomplish all of your estate planning intentions. Your will is the cornerstone of your plan, but it doesn’t give you enough con
Tips for Helping Get Your Affairs in Order
Whether you're organizing your own estate planning documents and strategies or helping your elderly parents to do the same, it's important to take a step back and think about the ways that you can make things easier for your loved ones when you are no lon