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Lisa J. Peterson: Posted on Wednesday, February 08, 2012 5:52 PM
A Certificate of Trust Existence is not always required but a good idea. Here are some reasons why... As provided in MCL 565.431,et seq., a certificate of trust existence and authority (referred to as a “certificate of trust”) or the entire trust declaration may be filed at a register of deeds office. Filing either a certificate of trust or the entire trust declaration when real property is placed into trust is beneficial and, in some cases, necessary for the orderly administration of the trust (allowing for smoother transfer of real property held by the trust). |
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Lisa J. Peterson: Posted on Friday, February 03, 2012 7:49 PM
Probate is the legal process that oversees what happens to a person’s estate (e.g. property, money, etc.) after death. Probate courts administer, inventory, tax and distribute a person’s assets, which is usually expensive and time consuming. Many people want to avoid probate for this reason.
While there are a growing number of ways to transfer property outside of probate, a living trust is a great tool, with many advantages. People typically equate having a trust with wanting to avoid taxes or having a lot of wealth but there is much more to using a trust. |
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Lisa J. Peterson: Posted on Friday, February 03, 2012 7:21 PM
Simple and straightforward estate planning can offer enormous, invaluable protections. Where does one begin? Answer – with the basic estate planning tool that I believe everyone should have—a will. A will is simply a document that tells the court how you want your estate handled and distributed upon your death. Many people do not think they own enough to justify a will. If you own a home, car, furnishings and/or an insurance policy, you are definitely worth enough to have a will. |
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Lisa J. Peterson: Posted on Friday, February 03, 2012 7:18 PM
Nearly everyone over age 18 should consider executing (at least) three basic estate planning documents: 1) will, 2) durable power of attorney for finances, and 3) durable power of attorney for health care. The older and more complicated your life gets (e.g. job/career, marriage, children, investments, etc.) the more important these documents become - to protect you, your family, your money and property. This post will focus on Durable Powers of Attorney. What is a Durable Power of Attorney? |
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