A new movement is making headway with seniors today. Record numbers of Baby Boomers are participating in triathlons, traveling the globe, starting their own companies from scratch, creating new social circles and in general being much more active than their own parents and grandparents. But that’s not all these seniors are doing. The Demand Institute surveyed over 4000 Baby Boomer households (50-69 year olds), and found an interesting pattern emerging.View Post
The fancy name for the state taking your house to pay for nursing home expenses is called “Estate Recovery.” The Federal government required Michigan to pass an Estate Recovery law, which was signed into law in 2007. Because of some wrangling and red tape between the state and Federal governments, it just started being enforced on July 1, 2011, retroactively to 2007, of course.View Post
In Michigan, Probate Courts serve the primary purpose of protecting those who are incapable of speaking for themselves due to death, incapacity, or being under 18. This protection does not extend to protecting the privacy of these individuals, however.View Post
Before getting into whether a do it yourself estate plan is appropriate for your situation, it is important to know exactly what will or “estate plan” is and what it does. In my opinion, the most basic estate plan, whether drafted by the most expensive lawyer in town or put together from the cheapest do it yourself estate planning kit you could find, must include a will and a patient advocate designation. Our estate plans typically include a few other steps to make the management of your affairs less cumbersome in the event of an unforeseen disability and upon your death.View Post
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