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Prince Rogers Nelson . . . His Estate Controversy
Prince Rogers Nelson, better known to the world as Prince, died on April 21, 2016, at his home at Paisley Park, Minnesota. Prince died without a Will, Trust or any type of estate planning according to court documents filed by his sister, potentially causing big...
TO GO BOLDLY . . . Funerals in Space
The first memorial service in space was in held in 1997, when a private company sold “seats” to carry the ashes of 24 people (including Gene Roddenberry, the creator or Star Trek) into sub-orbit. The remains were carried in capsules, comparable in size to a standard...
Pet Trust Primer
Those of us who think of our companion animals as family members are becoming aware of the fact that part of our responsibility to these dependent creatures is to make sure that their care and comfort continue uninterrupted should we become incapable of caring for...
DID YOU CASH THOSE SAVINGS BONDS YOU GOT AS A KID?
Excerpts from article in the Detroit Free Press on January 23, 2014 by Susan Tompor The funny thing about giving U.S. savings bonds as a gift for a child’s birthday or other big event is that it doesn’t hurt to nudge the child who turned into a grown-up and ask, hey,...
Remember: It is important to fund your Revocable Living Trust
To achieve full benefit from a living trust, it is important that appropriate action be taken to transfer assets into trustee ownership. This process is often referred to as “funding” the trust. Any asset that is transferred to your trust while you are living does...
AFTER THE DEATH OF A LOVED ONE: Checklist for Administering an Estate
After losing a loved one, it can be a very confusing and emotional time and families are often at a loss as to all there is to do to get the affairs in order and where to start. So, we have compiled a checklist to assist families through the process. The list is not...
NEW LAW: The Funeral Representative Designation Act
We are now able to offer our clients in Michigan a new document which the estate planning community has been seeking for years. Thirty-nine other states have already adopted similar laws and now, effective June 27, 2016, we have the “Funeral Representative Designation...
What are the Advantages of a Revocable Living Trust?
The self-trusteed living trust is a popular variation of living trust. You serve as the trustee of your trust while you are alive and competent and name a successor trustee to act in the event of your death or incapacity. Assets previously held in your sole name are...
Checking for Unclaimed Assets is Always a Good Idea
There are literally tens of billions of dollars of assets that owners have forgotten about that have been turned over to the government. These include things such as bank accounts, payroll checks, dividends and contents from safe deposit boxes. For example, when a...
Michigan Dower Rights Abolished
Until very recently, Michigan had the distinction of being the only state in the union to recognize dower rights in a wife, but not reciprocal rights in her husband. On January 6, 2017, Governor Snyder signed into law SB 558 and SB 560 abolishing these rights. These...