Category Archives: Uncategorized
Powers of Attorney – Will They Work?
A recent New York Times article was titled, “Power of Attorney is Not Always a Solution.” It related the story of a woman who was given a power of attorney by her brother who was later afflicted by dementia. When she tried to use the power of attorney, banks were reluctant to accept her power […]
Tagged Estate Planning; Financial
Successor Trustee
SUCCESSOR TRUSTEE Many clients wonder who should be selected as their successor trustee, or if they have a will, the personal representative. The following assumes there is no person who is an appropriate choice and therefore they will be looking for a corporate trustee, typically a bank trust department. When looking for a corporate trustee, […]
Tagged Estate Planning, Probate
Prenuptials and Estate Planning
PRENUPTIALS AND ESTATE PLANNING Prenuptial agreements are often considered in the context of a potential divorce. However, they should also be considered as part of an estate plan. Prenuptials typically cover three areas: protection of separate property, division of property and inheritance rights. A prenuptial can protect pre-marital or inherited assets from becoming mixed with […]
Tagged Estate Planning, Financial, Prenuptials, Real Estate
Home Mortgage Relief
Usually if something seems too good to be true, it is. However, under a new Streamlined Modification Initiative, announced by the Federal Housing Finance Agency, mortgage service officers are required to offer borrowers who are 3 to 24 months delinquent a plan to avoid foreclosure. Notice of eligibility will be coming by mail, so if […]
Tagged Bankruptcy, Real Estate
Prenuptial Agreements: What You Need to Know
Anyone with substantial assets or income considering a second (or sometimes first or third) marriage should give careful thought to entering a prenuptial agreement. A prenuptial agreement can help preserve assets and/or income for children from a previous marriage or simply allow someone to preserve their accumulated assets. The agreement in its simplest form provides […]
Tagged Lenawee County, Prenuptial Agreeements
