Probate can be a frustrating and complicated process. It can also be expensive. The most expensive part of probate administration is the attorney fee. Do you need to pay this or can you handle probate on your own? These are the factors to consider.
There are two basic types of probate proceedings in Michigan. Someone suffering from legal incapacity, (such as a minor), may require a guardian and or conservator. Also, when someone has died, the probate court may be needed to transfer title to their assets. This guide deals with both proceedings.
Probate is the process of the court giving someone authority to transfer the title of a deceased person's assets. This generally results in higher costs and more aggravation than is necessary.
EVERY person should have a General Durable Power of Attorney in place that names someone to handle their financial affairs and medical treatment decisions, in the event he or she becomes incapacitated. If someone does not have this document, then probate proceedings will be neces...
Do not fail to plan at all Some people have the opinion that "I am not going to be around to see what happens, so I am not going to worry about it." This can have disastrous effects on your loved one
Do you have any "probate assets" The only time a Will is ever used is during probate proceedings. If you do not have any assets titled in your name alone, or if all such assets have beneficiaries des
Determine your estate planning needs Your planning needs depend on a number of factors: 1) the size and make-up of your estate; 2) the age and financial savvy of your beneficiaries; 3) your planning
People are living longer. The fastest growing segment of the U.S. population is people over 80. Because of this fact, more people require more medical care. Medicare and Medicaid cannot keep up with the increased demand and are cutting benefits. Long term care insurance is one alternative.
The "bare bones" approach There are different levels of estate planning. At the most basic level, people need to leave directives as to who will care for their children, in the event they are no long
Determining the need for attorney advice Unless you have the experience to do so, and or are very confident in your ability to follow detailed instructions, you would not perform medical surgery your