People are often advised to write wills as part of their estate planning. Wills are important because they allow a person writing the will the opportunity to decide who gets property from his or her estate. Using a will in conjunction with other estate planning tools can help avoid probate and ensure that family and… [Continue Reading]
Making Gifts to Potential Heirs Before Death
A person wishing to gift certain items or real estate to his or her closest family members and friends does not have to wait until death to make these gifts through a will or trust. It is possible to make these gifts as inter vivos gifts. However, this does not eliminate the possibility of legal… [Continue Reading]
Powers of Appointment
When a person creates a trust to distribute his or her assets upon his death, that person may sometimes name someone and grant him or her power of appointment. Power of appointment in the context of an estate trust refers to a power granted to a person to distribute the trust assets as he or… [Continue Reading]
The Cost of Bankruptcy Fraud
A person may decide to file for bankruptcy for various reasons, such as overwhelming debt, as a way to restructure a business, or because of unemployment. Federal bankruptcy laws provide different options for debt discharge depending on the goal of the person filing. In return, the law requires the person to provide accurate information on… [Continue Reading]
Filing a Petition for Conservatorship
According to the National Adult Protective Services Association, financial elder abuse is a fast-growing problem affecting seniors. Seniors can find themselves financially exploited by caregivers, religious figures, as well as by family and friends. The financial exploitation that comes with this kind of elder abuse can leave the elderly person without the means to properly… [Continue Reading]
Employee Privacy and Monitoring Electronic Communications
Employer protection of proprietary information, trade secrets, and potential liability can often lead some employers to take steps to monitor the electronic communications of their employees. How an employer chooses to do this may sometimes run afoul of the law, and therefore, employers who want to monitor employee communications have to be careful about how… [Continue Reading]
Estate Planning for Blended Families
Joining together two families to make a new family can be a challenging yet exciting new phase of life. This blending of families to form one can happen when two people with children from other relationships decide to get married or move in together and raise the children together. Along with everything else that needs… [Continue Reading]
Choosing a Trustee for Your Michigan Estate Trust
Once a person has decided to establish a trust as part of his or her estate plan, another important decision needs to be made in order to complete the trust formation process – choosing a trustee. Choosing a trustee is important because the person or organization the trust settlor selects to serve as trustee bears… [Continue Reading]
Protections Under The Servicemembers Civil Relief Act
Servicemembers who are serving in the military can sometimes find themselves in financial trouble and facing foreclosure. This may apply to servicemembers who are recalled to active duty or who are about to go on long term deployment and expect to have trouble meeting their financial obligations. Fortunately, these servicemembers have protections from foreclosure under… [Continue Reading]
Receivership and the Possibility of Bankruptcy
When a business is in financial trouble and owes a lot of money to its creditors, bankruptcy may be one option to restructure the business and get ahead of the debt. However, before the business can file for bankruptcy, creditors may initiate a lawsuit to put the business into receivership in order to get their… [Continue Reading]
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