on behalf of Collens Estate Law

Creating an estate plan can be an overwhelming and emotional journey. For some, outlining the division of assets or funds can pose unique complications. Anyone in Michigan who is involved in creating an estate plan may want to carefully consider his or her options before relinquishing control of any aspect

When it comes to life lessons, there are a few lessons to be learned from the lives of certain celebrities. There are also lessons about what not to do based on mistakes exhibited in the estate plans of the rich and famous. While each and every estate plan is unique,

Creating an estate plan typically involves drafting, signing and filing a few key documents. While this is an important part of the process, there are other recommended steps for creating an estate plan. Michigan families may be interested in the following tips and ideas, if they are in the midst

There are many challenges that come with being a single parent. A single parent may find him or herself in a situation where he or she is solely shouldering the burden of ensuring a stable financial future for his or her children. Michigan single parents may want to stop and think

When the time comes for a family, couple or an individual to set up an estate plan, that party or parties may have very clear ideas about what they want to happen or what they foresee the situation to be. Nevertheless, most Michigan families realize life circumstances and family changes

People may know they need an estate plan, but that can mean different things to different people. Anyone in Michigan who attempts to create an estate plan will need to understand what their estate actually entails. It is then important to understand what one’s wishes are and how to make

No one likes to think about needing an estate plan. An estate plan essentially forces a person or family to think about their mortality or the mortality of a loved one. However, not planning accordingly or not being prepared can be costly to loved ones and can also leave more

When people think about estate planning, they may automatically assume it is a concern for those who are of a certain age and lot in life. However, there is never an age that is too young to think about an estate plan and ensure that the process is handled correctly.

Michigan residents who are looking to begin the estate-planning process may be a bit overwhelmed by the different documents that they may be able to set up. Many individuals are aware of how a will works and may believe that this document is the most important one. While individuals should

Parents and grandparents are always looking to make preparations for providing for the next generation. One of the most pertinent concerns families in Michigan have is saving for college for their children and grandchildren. A parent or grandparent may want to consider incorporating a 529 college savings account in his

When it comes time to think about how to handle the estate-planning process, there may be more than meets the eye. Each person’s estate plan can be vastly different than another person’s. Anyone in Michigan who is in the beginning stages of the estate plan process may want to be

The decision to begin the estate planning process may seem overwhelming and confusing. However, regardless of age or life circumstances, anyone involved in an estate plan should consider the benefits of having a power of attorney as part of the process. In Michigan, there are many reasons a person should

The process of creating an estate plan may seem like a cut and dried kind of endeavor. However, there are aspects of an estate plan that people commonly get wrong or disregard altogether. It is important for Michigan residents to understand the mistakes of others to ensure they are on

Families can be complicated, and the individual needs of family members or other beneficiaries may be just as complicated. This means that each family may have specific and very different needs as they move forward with the estate planning process. For some Michigan families, the creation of a trust, specifically

Oftentimes, when people think about beneficiaries of assets and funds, they may automatically think about parents leaving an estate to be split between children. However, for Michigan couples and individuals without children, the process of crafting an estate plan may be slightly different. It may require some more thought regarding

There are many options for estate planning and no one plan will work for everyone. However, regardless of the size of the estate, a trust may be a good idea to consider. For anyone in Michigan who is venturing into estate planning, learning about the different types of trusts can

Oftent, people think those who have a great deal of assets must have all of their estate planning ducks in a row. However, the death of Soprano’s star James Gandolfini showed that not everyone has taken the necessary steps to ensure that a comprehensive estate plan is in place. Because

Every estate plan is different. Despite the size of an estate or the value of any assets, an estate plan is pretty much the same process for all Michigan residents who want to protect their family and also protect all for which they have worked. For those who have not

Broaching the topic of estate planning can be somewhat uncomfortable for many people. However, it is better to have these plans in place long before they are needed in order to ensure that end-of-life decisions are handled accordingly. Estate planning covers various subjects from creating a will to appointing a

Many people wrongfully assume that they do not need to think about such things as estate planning if they are just starting out or do not have a great deal of valuable assets. Yet, anyone in Michigan who has children would be wise to make estate planning a priority. Also,

Estate plans essentially outline the fate of one’s personal belongings and other assets, such as bank accounts and investments. As technology continues to grow by leaps and bounds, it is becoming more important to think outside of the box when it comes to estate planning. Simply put, it is about

Traditionally, estate planning has been the process of handing down belongings and other assets from one generation to the next. The process of creating an estate plan is highly personal. That is reflected in some recent changes to the process in general, such as for those who do not have

There are many decisions to make when it comes to estate planning. Many may think a will is all that is needed. However, there are other documents and protections that may be needed to complete the estate plan of a Michigan resident. One essential document is a durable power of

The general topic of estate planning may be difficult for some to bring up or think much about. However, anyone who has any kind of assets may benefit from learning more about the process and what it entails, especially the important decisions that must be made. Anyone in Michigan who

When people sit down to decide what will become of their assets, they may think about bank accounts, homes, collectibles or even the fate of a family business. Many people already know that formulating a comprehensive estate plan is vital if there are kids involved. However, people in Michigan may