Facebook is in the news for more than launching its first initial public offering these days, as one news article reports. We thought Michigan residents might be interesting in learning how Facebook founder Mark Zuckerberg and several company insiders are using a legal tactic called a “grantor-retained annuity trust” to
As discussed in last week’s post, if your parents do not yet have an estate plan in place consider discussing the possibilities during the month of May. According to the Alzheimer’s Association, in the United States more women than men have the disease or some other form of dementia. So
This Mother’s Day, Michigan residents should consider a rather unorthodox, yet very important gift and that is the peace of mind that comes when you and your mother know the family will be taken care of when the inevitable occurs. Estate planning can be one of the most important gifts
Since many couples delay marriage, or simply do not marry at all, Massachusetts residents may wonder what happens when you own a home with another in a joint tenancy and one person listed on the title dies. One reader wanted to know if there was an inheritance tax in just
Michiganders might be interested in a recent article by a retired probate judge who offers advice on some of the most common estate planning mistakes people should avoid when preparing for their families’ futures. In this particular article he discusses the use of trusts to protect the assets of an
As discussed in last week’s post, what happens to your debt when you die depends on a number of factors, including the type of debt it is, whether it is secured debt, such s a home or vehicle, and the name on the title of the property securing the debt.
Being named as the sole beneficiary of a relative’s estate may not be what it once was with so many properties upside down and the nation’s credit card debt at record levels. What do you do if you are willed a house in which the mortgage owed is more than
It is hard enough losing a parent, but to have the state come after your inheritance afterwards can make an already difficult time that much more traumatic. That is what is happening to one Michigan family who is learning that their mother’s will doesn’t matter to the state as it
A Los Angeles Superior Court Judge will decide who will control Zsa Zsa Gabor’s estate finances and medical care decisions. Last week Ms. Gabor’s only daughter, Constance Francesca Gabor Hilton, filed a petition with the court to request a court controlled conservatorship of her mother’s estate. A conservator is someone
Disagreements are a normal part of family life; however there comes a time when you want to document your decisions regarding the person you trust the most to handle your estate and make certain decisions on your behalf should you become unable to communicate your wishes. And, in some cases
No doubt Michiganders have heard about the 81-year-old woman who won over $336.4 million in a Powerball jackpot last week, and all thanks to a family member who had a craving for something sweet. Asked if she wanted anything from the store the woman decided she would go with her
Anytime someone dies prematurely there is sadness and grief for all who lost a loved one. What may compound that grief is the lack of an estate plan that can provide guidance for the survivors to follow their loved ones wishes. Whenever a celebrity passes away prematurely it can be
Our law firm is ready to help. Contact the probate and estate attorneys at Collens Estate Law.
© Copyright 2024, Collens Estate Law, All rights reserved.
