WHY WE TRUST TRUSTS

The Why So, why do you need a trust? Well, the answer is like the answer to many legal questions: “It depends!” In order to determine whether you need a trust, you must consider your specific estate planning needs or, in other words, which arrangement provides you the most favorable cost-to-benefit ratio. Recall that a [...]

No Blog This Week?… April Fools!

With April Fool’s Day on Saturday, you may want to be on the lookout for suspiciously sudden news, weird mannerisms, and/or funky smelling foods. Everyone knows a beloved prankster who just can’t help it but to spend the entire week plotting the ultimate prank. Maybe you know her. Maybe you are him. Maybe you [...]

2017-10-18T19:13:15+00:00 Monday, March 27, 2017|attorney, Darren Findling, Financial, The Probate Pro|0 Comments

Tax Filings for Fiduciaries: What Are Your Filing Obligations?

Remember the old adage, “There are only two certainties in life: death and taxes”? The bad news is that there is some truth to it. The good news is that we can help you with both. Most people believe the requirement to file taxes dies when you do, but that could not be further from [...]

PACZKI POP CULTURE

Whether you will be indulging in Fat Tuesday with a Polish Paczki or embellishing your outfit with beads for Mardi Gras, many of us will be celebrating some reason to splurge on heavy foods, booze, and a lot of naps. And while I’ve been eagerly anticipating every bite of tomorrow’s 700-calorie, Hamtramck-style Paczki, I also [...]

2017-10-30T15:30:19+00:00 Monday, February 27, 2017|Darren Findling, Financial, The Probate Pro|0 Comments

PLAN LIKE THE PATRIOT’S: KEY PLAYERS AND CLIPBOARD DOCUMENTS OF ESTATE PLANNING

Whether you are waking up this morning with Patriot pride, fury over the Falcon’s fumble, or are still star struck from Lady Gaga’s performance, I think we can all agree on one take-away from Super Bowl LI: If you choose to put your mind to something, you can achieve it. And yes – I’m talking [...]

120-HOUR RULE: A CASE STUDY OF DEBBIE REYNOLDS AND CARRIE FISHER

The recent passing of both Debbie Reynolds and Carrie Fisher, mother and daughter, so close together reminded me of one of Michigan’s probate laws, commonly known as the 120-hour rule. The 120-hour rule states that if your heir or beneficiary dies within the first 120 hours (or 5 days) after you die, they are treated [...]

BUCK THE ODDS: A LESSON FROM BEING BUCKED BY THE BUCKEYES

The Michigan-Ohio State game has a storied tradition. Woody. Bo. Urban. Harbaugh. This past weekend, I drove my 9 year old son to Columbus to root on #3 Michigan as it played #2 OSU. With two highly ranked teams, the odds were pretty good that we were going to witness a great game. Wading through 110,000 rabid, [...]

2017-10-30T16:31:25+00:00 Tuesday, December 6, 2016|Financial, The Probate Pro|0 Comments

RESPONSIBILITIES AS PERSONAL REPRESENTATIVE

So, you have been appointed the personal representative. Oh my!  Now, what is my next step? Specifically, what are the responsibilities as Personal Representative? After reading this exhaustive list, you may feel completely exhausted! If so, give The Probate Pro a call at (248) 399-3300 and we can guide you through the process. Ensure that [...]

PROBATE COURTS

To best understand Michigan's probate courts, it is important to understand all of Michigan's trial courts. Michigan has three trial courts—circuit, district, and probate. The circuit court is the trial court with the broadest powers in Michigan. In general, the circuit court handles all civil cases with claims of more than $25,000 and all felony [...]

PR DUTIES

So, you want to be a personal representative (PR) of a probate estate?  Take a deep breath and then carefully read this explanation of the PR duties in Michigan. PR Duties: Overview A personal representative of an Estate has a duty of undivided loyalty, impartiality, care and prudence to the heirs and to creditors.  The failure to properly administer the [...]