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Estate Planning

Do You Need A Lawyer For Estate Planning?

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Of all the decisions you make in life, estate planning is one of the most important. An estate plan is essential for protecting your family after you’re gone. When done correctly, an estate plan will ensure your final wishes are carried out while minimizing taxes and legal fees.  You’ve probably asked yourself whether you can […]

What Assets Must Go Through Probate Upon Death?

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What happens to your assets when you die? Unfortunately, there isn’t a cut and dry answer to that question. Some of your things will go through probate, while others won’t need to. It depends on the type of property you have and where you live. The process varies from state to state. What happens to […]

How Much Does Estate Planning Cost?

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If you don’t have a will, you’re probably wondering how much estate planning costs. Looking for legal help isn’t like shopping for new shoes where prices are published and you can compare easily.  Estate planning doesn’t have to be expensive. Michigan, for instance, provides a free will planning tool you can do yourself online. Though, […]

Guardian & Conservatorships: What’s Involved When Caring For An Adult?

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We know the thought of creating an estate plan might make your head spin. But failing to do so can cause way more mind-numbing, stressful, and time-consuming efforts later.  Creating power of attorney (POA) documents as part of an estate plan assigns an individual the authority to make decisions in financial or medical matters for […]

How Does Being Wealthy Differ From Being Rich? Can You Be Both?

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Do you want to be rich? Or would you prefer to be wealthy instead? Most people consider rich and wealthy as the same thing. But contrasting them and considering what they mean on a deep level can make a difference in your finances. In simple terms, being rich is having the ability to spend lavishly […]

What Should Others Know If Something Bad Happens To Me?

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You’ve heard the saying, “hope for the best but prepare for the worst,” and maybe you’ve taken it to heart. You’re getting ready to buy life insurance and researching disability insurance plans. And perhaps you’ve even written down some information on ‘in case of emergency documents’. But it’s all you’ve managed to do, in terms […]

What Is An Advance Care Directive And Do I Need One?

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Imagine you’ve become incapacitated. You may be unconscious, or unable to speak or reason. How do you want your medical treatment handled? If you’ve never documented your wishes or at least discussed them with your spouse, parents, or adult children, medical personnel will make those decisions for you. To ensure you receive medical treatment in […]

What Should I Do About My Parents’ Debt?

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Managing your finances is a complicated endeavor with a lot of independently moving parts. You may have children to support, day to day bills to cover, debts to pay off, and a retirement to plan. And, to throw even more into the mix, you may come to a point where you need to intervene in […]

Do I Need A Prenuptial Agreement (Prenup)?

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When hearing the mention of the word prenup, most people express serious reservations about getting one. Common arguments against them include: “A prenup is for people who can’t, or won’t commit.” “It’s like rooting against your marriage.” While it’s true not everyone needs a prenup, there are essential benefits– financial and otherwise–to signing a prenup […]

What Happens If I Die Without Creating A Will?

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If you’ve not yet created a will, it’s probably because you aren’t wanting to think about death. Or perhaps you’re procrastinating or don’t think you need one. Unless you have no assets, possessions, or children, or you don’t care what happens with everything you own after you die – there’s a good chance you’ll want […]

What Is Umbrella Insurance And Who Really Needs It?

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You work hard to ensure you’re covering all your financial bases. Homeowner insurance – check. Car insurance – check. Health insurance – check. And now someone is telling you your umbrella has to be insured? Despite the odd name, umbrella insurance covers more than the damage an actual umbrella could do. On a rainy day, […]

Do I Need A Living Trust In My Estate Plan?

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While it’s sometimes thought that trusts are only for the wealthy, a living trust can be useful and serve as a practical tool for the rest of us, too. But what is a living trust? And how do you know if you need a living trust as part of your estate plan? Generally, estate planning […]

Which Life Insurance Is Best To Buy, Term Or Whole?

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According to a 2016 life insurance study conducted by LIMRA, 86% of consumers agreed most people need life insurance. American consumers clearly see the need, but that doesn’t mean everyone is making the purchase. We get it. Life insurance is not a fun topic. The thought of it might make your eyelids heavy or evoke […]

Why Is Having A Power of Attorney Document So Important?

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Power of attorney documents (POAs) are legal papers in which an individual (the principal) designates another person (the agent or attorney-in-fact) to act on their behalf and make decisions on certain matters (a specific financial transaction for example) or on all matters. POAs may be limiting in actions and duration, or be all-encompassing and lifelong. They are […]