News & Analysis as of September 18, 2024

Estate Planning › Power of Attorney

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Family Members Living With Dementia: Guardianship and Guardianship Alternatives

Hendershot Cowart P.C. on 9/9/2024

Celebrities like Jay Leno and Emma Hemming Willis (married to Bruce Willis) are speaking out about their experiences with guardianship and caregiving. If you are caring for a family member with dementia too, a time will...more

The Estate Planner, September/October 2024

Shumaker, Loop & Kendrick, LLP on 8/30/2024

Moving to another state? Revisit your estate plan - If you recently relocated to a new state — or you’re planning such a move — it’s a good idea to review and update your estate plan. You won’t have to throw out your...more

Empower Your Parents & Secure Their Legacy

Saiber LLC on 8/23/2024

No matter how much planning you do, you can never be too prepared to face the future of caring for your aging parents. While it may not be the most comfortable topic, having an open and honest discussion allows you to...more

Key Estate Planning Adjustments to Make After Your Spouse Passes Away

Bowditch & Dewey on 8/19/2024

The period after a spouse passes away is an emotional time of mourning. However, there are a handful of estate planning adjustments that you should make to protect your estate under the new conditions....more

Planning for the Future: Managing Your Healthcare with Advance Directives

Amundsen Davis LLC on 7/22/2024

A comprehensive estate plan provides how your estate is handled in the event of death or incapacitation. It also establishes your desires for how medical and life-sustaining treatments are communicated and administered. ...more

Durable Power of Attorney – One of Your Most Important Estate Planning Documents

Lasher Holzapfel Sperry & Ebberson PLLC on 7/16/2024

We all make important decisions and engage in regular financial transactions without giving a second thought about our capacity to do so. But what if you suddenly lost the ability? What would happen? While most of us don’t...more

Legal-Ease: What Happens to a Family Member's Bank Account After Death?

Foster Swift Collins & Smith on 7/9/2024

Dear Jonathan: My father, a widower, passed away a couple of months ago. Being his only child, he appointed me as his agent on his durable power of attorney so that I can handle his bill paying which I have been doing for the...more

Michigan’s Uniform Power of Attorney Act Goes into Effect Today

Miller Canfield on 7/2/2024

The Uniform Power of Attorney Act (“UPOAA”) was signed into law by Michigan Governor Gretchen Whitmer on November 7, 2023. Taking effect on July 1, 2024, the UPOAA repeals and replaces the durable power of attorney provisions...more

The Role of AI in Estate Planning: Benefits and Limitations

Kohrman Jackson & Krantz LLP on 6/24/2024

As AI increasingly becomes part of our everyday lives, individuals and families are exploring the use of AI programs to prepare estate plans. The answer to whether AI can be used for this purpose is, of course, yes. AI...more

Legal-Ease: What is the Downside of DIY Estate Planning?

Foster Swift Collins & Smith on 6/18/2024

Dear Jonathan: I am thinking about preparing my own estate planning documents, including a will, powers of attorney and a trust. A close friend of mine just went through this process and it cost her thousands of dollars and I...more

Estate Planning for Founders – Part I: The Core Estate Plan

Pillsbury - Propel on 6/5/2024

This is the first of a four-part series focusing on estate planning for founders. In this series we will cover why, as a founder, you need an estate plan. The right planning can save your family significant sums of money in...more

Michigan’s New Uniform Power of Attorney Act Effective July 1

Warner Norcross + Judd on 5/29/2024

Michigan’s new Uniform Power of Attorney Act (UPOAA) becomes effective on July 1, 2024. This law serves several purposes, which include preventing financial exploitation of vulnerable individuals and making standard power of...more

Estate Planning for Young Adults: Essential Documents as Your Child Heads to College

Amundsen Davis LLC on 5/21/2024

As your child approaches their milestone 18th birthday, it's crucial to understand the changes and responsibilities that accompany reaching the age of majority in the eyes of the law. This moment marks their transition into...more

Easing the Burden: The Gift of Planning for Incapacity

Ward and Smith, P.A. on 5/6/2024

Normal aging can be challenging, but caring for an aging family member with dementia is particularly difficult. Over the years, we have often seen caregivers suffer from exhaustion, compromising their mental and physical...more

Guide to Reviewing Your Estate Plan

Husch Blackwell LLP on 3/20/2024

Because so many things can change with time, we recommend that our clients review their estate plans every three to five years and update plans as needed. These periodic reviews help to ensure that your affairs are in order,...more

A Useless Power of Attorney: Avoid Free Legal Documents

Chambliss, Bahner & Stophel, P.C. on 3/18/2024

A power of attorney designates a trusted individual to make decisions or conduct transactions on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate...more

Measuring Your Marbles: The World of Powers of Attorney

Fox Rothschild LLP on 3/11/2024

Because this writer is now of “that age” and the topic of senior mental infirmity seems to be a focal point of the 2024 Presidential race, I have been watching a podcast about powers of attorney and their cousins the...more

Why Adding a Child as a Joint Owner May Not Be a Good Idea

Mitchell, Williams, Selig, Gates & Woodyard,... on 1/18/2024

Individuals are often interested in ways to transfer their assets at death without having those assets go through a probate proceeding. Those same individuals are also often interested in accomplishing this without having to...more

No Time Like the Present: Address Top Estate Planning Priorities Today

Adler Pollock & Sheehan P.C. on 12/19/2023

When it comes to estate planning, consider taking a page out of the Boy Scouts Handbook: Be prepared. The last thing you want is for your family to be scrambling to pick up the pieces after your death. Of course, you’ll need...more

Estate Planning Pitfall: You Haven’t Recently Updated Your Powers of Attorney

Adler Pollock & Sheehan P.C. on 11/17/2023

Health care and financial powers of attorney are critical components of an effective estate plan. Indeed, while much of your estate plan focuses on actions that take place after your death, it’s equally important to have a...more

What Does Incapacitated Mean in Elder Law & Estate Planning?

Chambliss, Bahner & Stophel, P.C. on 11/16/2023

When working with an attorney to prepare for your future and address the challenges associated with aging, you will likely come across the term “incapacitated.” Incapacitated Definition - Someone who is incapacitated...more

Estate and Tax Planning for US Expatriates

Allen Barron, Inc. on 11/16/2023

What are the most important elements of estate and tax planning for US expatriates? Are you planning to move out of the United States? Are you a US taxpayer who lives and works outside of the country? What are some of the...more

Navigating Sleepless Nights: A Mother’s Guide to Special Needs Planning

Chambliss, Bahner & Stophel, P.C. on 11/10/2023

I was driving to work on August 24, listening to Lady Gaga on my Pandora radio station, when suddenly, I had a strong urge to call my younger daughter, Hannah. We talk regularly, so it isn’t unusual that I call her on my way...more

Wealth, Legacy and the Next Generation: Getting Started and Other Considerations

Lathrop GPM on 11/2/2023

Legacies and estate planning are often considered to be something later in life. Yet the truth is none of us have any idea when we might become incapacitated or pass away and consequently, understanding the various scenarios...more

Things To Consider When Creating An Estate Plan

Dunlap Bennett & Ludwig PLLC on 11/2/2023

When thinking of creating an estate plan, here are a few things to consider before finalizing your final wishes: Should you create a Will or a Trust? The essential difference between a will and a trust is that a...more

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Estate Planning › Power of Attorney

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