Warren Estate Planning Blog
Facts about beneficiary designations in Michigan
Estate planning refers to the process of planning and organizing your estate, including all financial assets, investments, real estate holdings, business interests and personal possessions. Your estate plan should include provisions for who you want to receive your...
Illegal landlord actions to avoid in Michigan
Being a landlord requires you to always remain aware of potential laws protecting tenants. While many of these laws strive to protect both you and renters, violating them may affect you far worse than your tenants. Strive to avoid breaking these landlord laws in...
When it’s time for the kids to take care of the parents
As parents get older and need to be taken care of, the responsibility often shifts down to the children. Sometimes, the way to share the load is obvious, but it's not always so easy. Either way, it's a mistake to wait until your parents in Michigan need help before...
What are a few things a landlord is not permitted to do?
Many Michigan residents rent houses or apartments. Some can’t afford to own, so renting is a convenient and cheaper option. However, it’s helpful to know that there are certain things your landlord is not allowed to do by law. Enter without proper notice If your...
Considerations when discussing estate planning with your children
One of the biggest challenges of discussing estate planning with your children in Michigan is the fact that it can be a very emotional topic. You may be worried about how your children will react to the news, or you may be concerned about their ability to handle the...
Becoming a landlord in Michigan may be or may not be worth it
If you have some extra cash that you're looking to invest or have extra space in your Michigan home, becoming a landlord may seem like a worthwhile venture. But as with all other careers, it's not without its challenges. The benefits of becoming a landlord The real...
Why you need an incapacity plan in Michigan
Many people don't think about the daily life risk of losing their ability to function independently. However, all it takes is a nasty blow to the head to incapacitate you. In this situation, you would be unable to make health care and financial decisions for yourself....
Standard responsibilities of a landlord
Renting a home in Michigan to a tenant can often bring in more income for your family. However, there are a few obligations that you have as a landlord to make the living environment as comfortable as possible for your tenants. Deposits While it is your right to...
What is the difference between a TOD account and a trust?
Planning for the future by creating an estate plan is something that can benefit all Michigan residents. If you wish to protect certain property from probate, two options you can turn to are a transfer on death account or a revocable trust. Knowing the differences can...
The importance of an updated estate plan for the family
An unexpected death in a Michigan family can leave survivors in a precarious situation when an estate plan is incomplete or out of date. Family situations can change with time, which means it is vital for people to evaluate their estate plans at least annually. This...