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December 3, 2024

Trust administration can feel like uncharted territory for many, but understanding the process is crucial for ensuring a trust fulfills its intended purpose. Whether you're a trustee, beneficiary, or someone considering establishing a trust, this guide will equip you with the key knowledge to navigate trust administration confidently. Understanding the Role of the Trustee The trustee holds a pivotal role in managing the trust’s assets so that the trust’s terms are carried out. A trustee's responsibilities include: Asset Management: Safeguard and invest trust...

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November 20, 2024

Estate planning protects your family’s future and ensures your wishes are honored. However, mistakes can undermine even the best intentions. Below, we dive deeper into common pitfalls and provide expanded advice on how to avoid them. 1. Procrastination The Pitfall: Many people delay estate planning, thinking they have plenty of time or assuming they don’t have enough assets to justify it. Unfortunately, unforeseen events like accidents or illnesses can leave your loved ones in a difficult position without a plan. How to Avoid...

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June 17, 2024

Estate planning is not just for the wealthy; it is a financial strategy that everyone should consider. At its core, estate planning ensures that your assets are distributed according to your wishes after your death, but its benefits extend far beyond that fundamental purpose. One critical aspect of estate planning that often goes overlooked is its role in minimizing taxes, so you can maximize the wealth you pass on to your loved ones. Understanding Estate Taxes Estate taxes, also known as inheritance...

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June 15, 2023

As we age, it becomes crucial to not only plan for our future but also protect ourselves from potential risks and vulnerabilities. Elder abuse is a distressing issue that affects numerous seniors worldwide, emphasizing the need for awareness, prevention, and proactive measures. Here, we will discuss how estate planning can serve as a powerful tool to safeguard against elder abuse, ensuring that your wishes are respected and your legacy remains intact. Understanding Elder Abuse: Elder abuse encompasses various forms of mistreatment,...

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May 31, 2023

Estate planning is a critical process that aims to ensure the smooth transfer of wealth and assets from one generation to the next. But it is also much more than that. While the technical aspects of estate planning often revolve around wills, trusts, and tax considerations, one key element that is often overlooked is the power of family meetings. These gatherings offer a unique opportunity for families to come together, discuss their wishes, and create a shared understanding of their...

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May 5, 2023

For many people, pets are not just animals but members of their family, and we want the best for our furry companions, even when we are no longer around. That is where estate planning for pets comes in. In Michigan, just like in many other states, you can make provisions for your pets in your estate plan. In this blog post, we will explore estate planning for pets in Michigan and what you need to know to ensure your pets...

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May 8, 2021

Happy Mother’s Day! Throughout our lives we may look to our moms as caregivers and support systems, someone we can turn to even when we ourselves are adults. But who takes care of mom when she can no longer care for herself?  Making sure we and our loved ones have a plan in place before something happens is critical. That way the people who are going to step in on mom’s behalf are already named and can more easily transition into control....

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November 6, 2020

As we head towards the end of the year, many are undoubtedly stressed or anxious. The holiday season is about to start, and it will look different than most this year. However, it is important we take the time to look back, think about what we have accomplished and consider what we are grateful for. Maybe you were able to figure out how to work from home or you stepped in as a temporary teacher for your children. Perhaps you...

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