Trusts

Client Scenario

A client approached me with an estate problem: her mother passed away in December 2023, and she received an inheritance from her, but my client will receive the inheritance outright and free of trust. My client's concern was that she wanted to make sure her children (and not her spouse’s children) would receive the inherited assets […]

Intrafamily Loans and How They Work

Often, I am asked for my opinion on making loans to family members. The client’s son wants to purchase a new home but wants his inheritance now to do so. An intrafamily loan is a financial arrangement between family members—one lending and another who is borrowing. An intrafamily loan may help a family member who […]

Review Your Estate Plan

When was the last time you reviewed your estate plan? Despite our regular reminders every four years, only some people take the time to review it. While it may not lead your mind, managing your strategy is crucial. I have listed reasons you should do this soon, and your active participation in this process is […]

What Happens to An Adult Child Living at Home When Their Parents Pass Away

Adult Children Living at Home More young adults live at home with their parents today than ever since the 1940s. While there are many opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children […]

What Happens to Your Digital Accounts at Your Death?

Some have said that nothing ever dies on the Internet. While this dictum is typically used as a warning that what we put online may come back to haunt us, our online accounts can outlive us and even live in perpetuity. Having a digital estate plan that arranges what happens to these accounts when we […]

Things to Know When Planning for an Addicted Loved One

Some have said that the only thing harder than being an addict is loving one. It can be difficult for a parent to bring a child into the world, full of hopes and dreams about their future, and then watch them spiral down into addiction. Having someone in your life who struggles with substance abuse […]

Decanting: How to Fix a Trust That Is Not Getting Better with Age

In the previous blog, we wrote about amending trusts. The next two blogs will delve more into the why, when, and how of decanting. Many people do not know that decanting a trust is even possible and think when you mention decanting, your mind goes immediately to wine. While many wines improve with age, the […]

How to Amend Your Trust - The Dangers of DIY

When you create a revocable trust, you reserve the right to amend your trust during your lifetime, giving you the flexibility to change your estate plan as your circumstances evolve. But special care must be taken when changing your revocable trust. If you make handwritten changes to your revocable trust or attempt to amend your […]

Finding the Right Trustee for Your Trust

A trust is a valuable tool in protecting assets from probate and ensuring financial security for loved ones after your passing. When forming a trust, the grantor designates a trustee to make payments and determine how the assets in the trust are distributed. Finding a competent and reliable trustee is crucial. Grantors usually select a […]

Recent Case in Michigan Appeals Court

What is a Declaration of Trust or Trust Ownership? The Michigan Court of Appeals recently sided with one of the co-trustees in the matter involving Schaddelee Vs. Deleon regarding creating a trust and its terms and what assets or potential assets will flow into the trust. Michigan’s probate court determined that the declaration of trust […]

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Client Scenario

Intrafamily Loans and How They Work

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