Medicaid Estate Recovery in Michigan
What Is Medicaid Estate Recovery and How Does It Work in Michigan? In Michigan, Medicaid Estate Recovery allows the state to recover money spent on long-term care services after a recipient passes away. This program applies to individuals age 55 or older who received benefits on or after September 30, 2007. How Medicaid Estate Recovery […]
Best Way to Choose a Durable Power of Attorney in Michigan
What Is the Best Approach to Selecting and Appointing a Durable Power of Attorney (DPOA) in Michigan? Choosing the right person to act as your Durable Power of Attorney (DPOA) is one of the most important decisions in your estate plan. This individual will have the authority to make financial, legal, or medical decisions on […]
What Assets Are Covered Under a Michigan Trust?
A valid trust in Michigan covers assets that you properly transfer into it (funding the trust). These assets may include real estate, bank accounts, investments, personal property, and business interests. When you place assets into a trust, they can avoid probate and pass directly to your beneficiaries. A trust also manages your assets during your […]
Why Do I Need a Trust in Michigan?
Why Consider a Trust in Michigan? Many Michigan families create a trust to manage and distribute their assets. A trust helps avoid probate, protect privacy, and plan for the future. While some people associate trusts with wealthy individuals, families with many income levels use them. A trust often provides more flexibility than a traditional will. […]
Why Do I Need a Will in Michigan?
Protect Your Legacy In Michigan, having a will allows you to control your legacy. It ensures your assets go to the people you choose, allows you to name guardians for your children, and lets you select a trusted executor. Without a will, however, state law (intestate succession) controls these decisions. As a result, your wishes […]