There are many ways in which a person can pass on property to others upon death. Some methods take longer than others to get through the probate process, while other methods avoid probate altogether. In fact, most people are advised to use estate planning tools that avoid probate, and this is true in situations where… [Continue Reading]
The Difference Between Revocable And Irrevocable Trusts
Trusts are an often recommended method of transferring assets after death. Trusts generally have many benefits, including the ability to avoid probate proceedings. There are different kinds of trusts that a person may establish, but they fall into two broad categories – revocable and irrevocable trusts. With both a revocable and an irrevocable trust, the… [Continue Reading]
Protecting Your Wealth With A Domestic Asset Protection Trust
Beginning next month, Michigan will recognize the legality of Qualified Asset Protection Trusts, also known as Domestic Asset Protection Trust — or DAPT. This type of asset protection instrument is potentially a great way for an individual to protect their assets from the reach of creditors. Signed into law at the end of the last… [Continue Reading]
