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Did You Know?
A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.
Newsroom
Latest news about Financial & Estate Planning in Michigan and nationwide:
Health Care Power Of Attorney
In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more >
Making A Will
The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepa... Read more >
New Tax Laws Offer NewWays To Save
Evaluate your income, find out your tax bracket and seek ways to keep it low
HUMBERTO CRUZ Tribune Media Services
It was important ... Read more >
Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.
In-Terrorum Clause
Definition:
A provision of a will or trust that disinherits a person in the event that he/she challenges the terms of the will or trust. Sometime called a No-Contest Clause.
Domicile
Definition:
A person's permanent legal residence. While a person may have more than one residence, he or she can have only one domicile. Typically, the domicile is the same place you use for purposes of voter registration.
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