Inheritances

Advice for boomers desperate to unload family heirlooms By Richard Eisenberg After my father died at 94 in September, leaving my sister and me to empty his one-bedroom, independent living New Jersey apartment, we learned the hard truth that others in their 50s and 60s need to know: Nobody wants

Creating an estate plan that works for every family is impossible because families vary greatly, and the needs of one will not fit the needs of all others. Because of family differences and varying dynamics, plans for inheritances can get infinitely complicated. Michigan families can explore their options for creating

One of the biggest concerns many people have when it is time to begin the estate planning process is what to leave their children, namely adult children. When deciding on what to do as far as an inheritance is concerned, there are numerous options. Michigan families have several approaches they may

When people consider estate planning and ensuring the proper distribution of personal property, most may only think about physical property. However, digital assets are also part of many Michigan estates in current times. These issues can typically be addressed by specific provisions within a last will and testament. Digital assets can

Most parents are eager to leave assets, including the family home and money, to children when they pass. However, if any form of an inheritance is given without forethought and proper planning, those well-meaning Michigan parents may also be leaving their children with a substantial and unwanted tax bill. It

A year after his death, the family left behind by comedian Robin Williams is still having a dispute over items and funds the comic left behind. The inheritance dispute has been ongoing, and both sides will be meeting soon in order to come to some kind of resolution. The dispute

Most people may know it is important to have a will to express one’s last wishes in the event of a passing. But, knowing you need a will and knowing just how important a will is to the protection of a family inheritance can be two different things. Anyone in

Someone may work tirelessly for years or decades to create a fortune or amass a certain amount of assets. Deciding how distribute those assets or fortune to loved ones as an inheritance can be a highly personal and creative endeavor. One father recently made news in Michigan because of the

There is no such thing as a standard estate plan or plan for dealing with an inheritance. Each family’s needs are unique, and anything pertaining to an inheritance should reflect that individuality. Just as an inheritance in Michigan may need to be customized, it’s also important to periodically review an

For family-owned businesses, issues of succession form the center of all estate planning efforts. The manner in which a business is handed down differs for every family, and there is no such thing as a one-size fits-all legacy solution. When addressing the issue, Michigan families should take the time to

For many Michigan residents, the primary purpose of estate planning is to ensure that their loved ones are looked after, and that assets are passed down in the manner of one’s choosing. This process rarely includes making provisions for a former spouse. Even so, many people will unexpectedly leave their

Regardless of the size of an estate or anyone’s age, having a will drafted is a smart and vital part of being an adult. Many people put off the process of creating a will out of fear or trepidation of thinking about the inevitable. However, every adult in Michigan should

For financially stable families in Michigan, a great deal of pride may be taken in the act of leaving a significant inheritance to a family member. However, Michigan residents may want to consider the downside of leaving a family member a large sum of money. For some families, the concern

Members of Generation X are in a unique period of life where it is time to think about an estate plan for themselves and also time to be sure they know what type of plan their parents have adopted. Anyone considered to be Gen X — typically those individuals born

When a person leaves assets to his or her family members, there is always the chance that one or more of the family members may disagree with the distribution of the assets or feel slighted in some way. A dispute over a large inheritance has recently made the news as it has

Whenever a family passes, that family member’s last will and wishes expressed may come as a surprise to some. However, those typically close to the person may already be aware of the declarations and wishes that are part of a will. When a Michigan family feels that a will does

Estate planning often revolves around who will get an inheritance and who won’t. The question of how much money and what assets to leave to whom is an essential part of the estate planning process for Michigan families. However, families have recently begun to think about what else they leave

When it comes to leaving assets to beneficiaries, the process can be difficult for families if there are estranged children or strained family relations to be considered. For Michigan families, there are creative solutions for dealing with how to leave an inheritance to estranged children. While leaving that person out

The entire estate-planning process can be tricky for families to navigate. It may be challenging for an elderly family member or spouse to disclose assets and financial information to the people to whom they may be closest. However, the more transparency there is when it comes to an inheritance and