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August 2013 Archives

Steps to create estate plan

Michigan individuals who are interested in developing an estate plan can make a more effective plan by following a few steps. One such step is to create a living revocable trust. Taking this step can help protect assets, avoid probate and provide for minor or disabled children after a person's passing. Additional steps can provide an even greater safety net.

People say they need help with estate planning

The fact that Americans are living longer makes estate planning increasingly important because the cognitive decline that often accompanies aging may make it difficult for an individual to handle his or her finances. In fact, such problems mean that Michigan families should have a discussion about estate administration before such a decline happens.

Determining an executor of your estate

Before a person passes, they want to know that their final wishes will be carried out. This requires a person to place a great deal of trust in another person to serve in the capacity as an executor of their estate. Even if someone owns only a small amount of assets, this part of their estate administration should be completed in order to ensure that someone trustworthy can settle their affairs. However, Michigan residents have the choice of whether or not to accept this assignment.

Different wills work better for different circumstances

Michigan residents should be aware that the creation of a will is an important step in securing the financial security for their loved ones and their families. However, there are a number of different types of wills, each of which works best with particular sets of circumstances. Choosing the wrong type of will could have severe repercussions. One expert, who provides wills for those who are over 50 years old, outlined the different types of wills available.

Some question wisdom of James Gandolfini's estate plan

Earlier this summer, James Gandolfini, a popular actor known by many for his role as Tony Soprano in The Sopranos, died while on vacation in Italy. Because Gandolfini was only 51 years old, his death came as a surprise to many of his fans.

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