There is some confusion about the taxes that can be imposed when assets are being transferred after someone dies. People hear the terms “inheritance tax” and “estate tax,” and they automatically assume that they are used … [Read more...] about Is There an Inheritance Tax in Michigan?
Before we look at payable on death or transfer on death accounts, we should explain what probate is and why people try to steer clear of it. If you utilize a will as your asset transfer vehicle, the executor that you … [Read more...] about Is a Payable on Death Account a Probate Avoidance Solution?
There are many different tools in the estate planning toolkit. As a layperson, there is no reason why you would have a thorough understanding of every option that is available to you. This is why you should definitely … [Read more...] about A Trust Can Be Used to Achieve Targeted Objectives
Most people do not have estate plans, and since there is so much procrastination, there are those that take a bare-bones approach. They think that you draw up a simple will and there is really nothing more to the process … [Read more...] about Estate Planning: Have You Overlooked Key Details?
There has been a bull market in the real estate realm for a number of years now, and home values are really skyrocketing in some areas. Investors and individual homeowners are enjoying the halcyon days, but some people … [Read more...] about Real Estate Boom Can Lead to Estate Tax Exposure