Grand Rapids Wills and Trusts Lawyers See a Rise in Incentive Trusts

A growing number of people in Grand Rapids are realizing that they can have more of a say in how their assets are used after they have departed and protect those assets for their loved ones.  The use of incentive trusts has increased as a result. Parents, especially, are directing their trust lawyer to add guidelines and stipulations that need to be met in order for their kids to receive proceeds from the trust as well as adding provisions to keep the funds protected from creditors and future ex-spouses.View Post

Estate Planning and Loss of Income in Grand Rapids

Many people visiting their will and estate lawyers in Grand Rapids are unprepared for the news that their income might change drastically with the death of a spouse. For example, the spouses of veterans are often surprised to find that VA benefits can end when the veteran passes away. Unfortunately, this is something that sneaks up on a lot of folks who haven’t considered this with their Grand Rapids will and estate lawyer.View Post

Estate Planning Concerns for Young Professionals in Grand Rapids – Part I

Part I of a two-part piece looking at the most important estate planning documents for young professionals.
Why bother with estate planning for young professionals in Grand Rapids? Perhaps nothing about the word “young” makes you think of the need for estate planning. The truth is, however, that those folks who have recently graduated from school and into the world of the professional should absolutely start their estate planning as early as possible. Of course, one long-term concern of a Grand Rapids estate planning lawyer is to help you plan for death or incapacity, but there are other, more pressing concerns that the young professional should deal with now.View Post

Introducing an Elder Lawyer in Grand Rapids to the Senior in Your Life

The choice about whether or not to hire a Grand Rapids elder lawyer is one that is not to be taken lightly. Unfortunately, it’s a topic that can cause a lot of anxiety both for the senior and for his or her adult children. Many factors combine to make this an uncomfortable conversation to initiate.View Post

How Marital Status Affects Estate and Tax Planning in Grand Rapids

Who can get married and who can’t is an issue that estate and tax lawyers in Grand Rapids are following closely. Beyond social and religious meaning, marriage brings with it certain rights and benefits. A person’s marital status affects so many legal aspects of life, all the way through who will inherit property after death.View Post

Grand Rapids Estate Lawyer: Basics of Trust Administration

Wills and trusts administration is an interesting aspect of estate planning law, and one that has a really important impact on the beneficiaries of an estate. Generally speaking, a lawyer in Grand Rapids who does wills and trusts administration will offer a variety of services.View Post

Estate Planning When You’ve Got Money But No Kids

To be fair, a huge part of a Grand Rapids estate planning lawyer’s job is to help parents determine how best to take care of their children should the parents die prematurely. In the case of minor children, this might revolve around choosing legal guardians, setting up educational trusts, and making sure there is someone to manage any assets left for the kids. But, parents never stop being parents and even those whose children are grown often use their estates as a way to pass on what wealth they can to their children.View Post