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Estate Planning

Saturday, December 8, 2018

Common Mistakes When Planning for a Disabled Family Member


There are 58 million Americans five years of age or older that are identified as special needs making them the largest single minority in this country. The majority of federal and state benefits available to help persons with disabilities are needs based, meaning income and assets are strictly limited and can often by misinterpreted, resulting in costly mistakes.

One of the most common mistakes a parent or loved one makes is disinheriting their family member with special needs. The reason is often because the family believes other siblings will step in and take care of the disabled family member. However, this can lead to numerous problems, especially if the non-disabled sibling gets sued, divorced, or otherwise loses the money left to them.


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Monday, November 19, 2018

Appropriate-Documents-For-End-of-Life-Care-Decisions

You may think your living will is in order, including instructions regarding resuscitation commonly referred to as a DNR (do not resuscitate). While your wishes in a living will may be appropriately documented . . .
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Wednesday, October 24, 2018

Special Needs Trusts: What You Need to Know

In general, a trust is created when property or assets are managed by a person for another person’s benefit.
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Wednesday, October 17, 2018

Misconceptions About Powers of Attorney

A durable power of attorney is one of the most important estate planning documents you can have.
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Monday, July 9, 2018

Making Sure Your Wishes are Carried Out

The importance of making end of life preparations cannot be stressed enough. Many put off making these plans thinking there is always time to do it later. 



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Wednesday, May 16, 2018

Making Sure Your Estate Plan Reflects Your Wishes


Jack and Doris wanted to divide their property equally between their three children. The house should to go to daughter Mary who loved it, and the rest of their estate should be apportioned equally between sons Bob and Frank.

Jack and Doris’s attorney drafted a will distributing the modest remainder to the sons and the attorney filed a ladybird deed leaving the house to Mary. In the right circumstances, a ladybird deed can be a useful and efficient way to leave real estate to heirs without going through expensive and protracted probate proceedings.

Years passed.
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Saturday, March 3, 2018

5 Things to Include in an Estate Plan

Estate planning is important for people of all ages, but as we age, the need for planning becomes even more critical. Many people avoid estate planning, because they do not want to think about the end of life, failing health or disability.



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Monday, October 16, 2017

It’s Almost National Estate Planning Awareness Week 2017


Because Congress found that over 120,000,000 Americans did not have an up-to-date estate plan, they voted in 2008 to declare the third week in October each year as National Estate Planning Awareness Week. In the resolution, the House cited a 2004 Roper poll commissioned by the American Institute for Certified Public Accountants which stated that two-thirds of Americans over age 65 believe they lack the knowledge necessary to adequately plan for retirement and that almost one half of all Americans are not knowledgeable about basic retirement tools, like 401ks.

Almost a decade later, studies have found that over 64% of Americans still don’t have an estate plan.

If you don’t have a proper plan in place, or if your plan is decades old, don’t hesitate to contact a local estate planning attorney to start the process of protecting your loved ones’ futures. Here are a few quick estate planning tips that will help you learn more about this important area of law.
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Friday, August 4, 2017

Age-appropriate Legal Documents

Twenty years ago, Jim and Sandy, age 45 at the time, went on their first vacation without their kids since they were married. They had no planning documents in place, and had to scramble quickly to get a simple will and a power of attorney to make sure their kids would be taken care of should something happen to them.

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Tuesday, May 9, 2017

Estate Planning for Grandparents Raising Their Grandchildren

How can I ensure my grandchild is cared for in the event of my death?

In the past 30 years, the number of children being raised by their grandparents has doubled.  United States Census reports indicate that about 6.5 million children under the age of 18 are currently living in a home that includes at least one grandparent. There are numerous reasons why a grandparent may end up raising a grandchild, including the death or incarceration of a parent.  No matter the reason, any grandparent who provides care for their grandchild should take steps to ensure their loved one is protected after their death.


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Thursday, April 6, 2017

Estate Planning In Your 20s

Do I need an estate plan if I am young and healthy?

While most of us have a basic understanding about what the term “estate planning” means, few young adults believe estate planning is something they need to worry about.  After all, your twenties are a time for fun, adventure, and figuring out what you want to do in life.  Despite the advantages of youth, however, tragedy can strike even the youngest and healthiest among us.  Young people with few assets do not need an extensive estate plan, but they do need a few vital documents in place to protect their families and loved ones in the event of a sudden accident or illness.  


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Estate Planning & Elder Law News

Elder Law, Estate Planning, and Probate attorney Andrew Byers helps people in Troy, MI and throughout Oakland County, MI including Royal Oak, Clawson, Berkley, Huntington Woods, Rochester Hills, as well as throughout the metro Detroit area, including Macomb County and Wayne County, Michigan.



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