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Reasons Your Executor Might be Challenged

July 31, 2018

When the time comes to create a legally binding estate plan, you will be required to name a personal representative to oversee your estate. The person named is usually referred to as an executor, and he or she must handle the daunting task of managing your estate while ensuring that your heirs receive their inheritances… [Continue Reading]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: challenge, estate planning, executor, will

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Should You Tell Your Beneficiaries Details of Your Estate Plan?

May 15, 2018

Not many people discuss their estate plans, particularly the provisions in a will, with the beneficiaries of the plan. These matters are often considered private matters that should not be made public. While there may be cases in which it is best to keep the provisions of a will under wraps, having a frank discussion with… [Continue Reading]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: Estate Plans, last will and testament

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Making Provisions to Avoid Lapsed Gifts

May 8, 2018

An estate plan that is not regularly updated can result in one or more of the beneficiaries under a passing away before the testator. In that situation, any property bequeathed to the beneficiary is at risk of being distributed in a manner that is not in line with the testator’s wishes. Bequeathed gifts that fail… [Continue Reading]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate plan modification, estate planning, lapsed gifts

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Medicaid Look Back Period

May 1, 2018

Medicaid is a government program that helps various Americans with the cost of their medical needs if they qualify to receive assistance under the program. Elderly Americans who qualify may use Medicaid funds to pay for long term nursing home care and avoid having to pay for the cost of that out of their estates.… [Continue Reading]

Filed Under: Asset Protection, WIlls and Trusts Tagged With: Asset Protection, elder law, Medicaid

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What Happens to Your Property if You Die Without a Will in Michigan?

April 10, 2018

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]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate planning, trusts, wills

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Making Gifts to Potential Heirs Before Death

April 3, 2018

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]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate planning, gifts

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Powers of Appointment

March 27, 2018

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]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate planning, powers of appointment, trusts

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Choosing a Trustee for Your Michigan Estate Trust

February 20, 2018

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]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate planning, trust, trusts, wills

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Charitable Trusts and Estate Planning

November 6, 2017

There are many different tax issues that a person wishing to pass on his or her estate must consider. One of these considerations is the tax burden of the estate on future beneficiaries. One way that a person can reduce the tax burden is by passing assets or using income from a trust for charitable… [Continue Reading]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: charitable trusts, Estate Plans, trusts

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Revoking a Will in Michigan

October 31, 2017

A person who writes a will as part of a larger estate plan may need to change the will from time to time depending on changes in the person’s life. In some cases, the person may need to completely redo the will and cancel a prior will in its entirety. There are several ways to… [Continue Reading]

Filed Under: Estate Planning, WIlls and Trusts Tagged With: estate planning, Estate Plans, wills

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Our firm’s practice areas include:

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    Bloomfield Hills, MI 48304

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Attorneys at Resnick Law, P.C. serve clients in Bloomfield Hills, Metro Detroit, the Tri-County Area and throughout southeast Michigan, including: Oakland County, Wayne County, Macomb County, Livingston County, Genesee County, Washtenaw County, Lapeer County, St. Clair County, Birmingham, Rochester Hills, Rochester, West Bloomfield, Bloomfield Township, Novi, Royal Oak, St. Clair Shores, Grosse Pointe, Walled Lake, Ferndale, Berkley, Sterling Heights, Clarkston, Farmington Hills, Ann Arbor, Howell, Brighton, Mount Clemens, Flint, Grand Blanc, Livonia, Dearborn, Troy, Plymouth, Pontiac, Northville, Southfield, Warren and Utica.

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