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
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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