Michigan Law Center’s Post

Does the word “beneficiaries” have you saying, “bena-who?” Good news–this post is for you 👀 (We promise we didn’t intend for that to rhyme) Here are four fast facts about this important part of estate planning: 1️⃣ A beneficiary is the person, people, or entity/entities you name to inherit what you leave behind. 2️⃣ Beneficiaries don’t have to be people. Many wills and trusts name charities or organizations as beneficiaries. 3️⃣ Good questions to ask include: Does anyone depend on you financially? Are you married? Do you have children? All of these may influence your beneficiary choices. 4️⃣ Keep in mind that for some assets, there are two types. A primary beneficiary is the person first in line to receive the benefit. A contingent beneficiary is a backup if your primary beneficiary is no longer alive. Got questions? Drop them in the comments or give us a call. We’re here to help.

National Estate Planning Month is here, and it's the perfect time to revisit and review your estate plan. With that in mind, we are sharing six signs that it’s time to review an estate plan ➡️ In general, we recommend you review your estate plan every three to five years, even if you haven't experienced any significant life changes. This periodic review ensures that your plan remains current and effective. If you have any questions or need assistance with updating your estate plan, please don’t hesitate to reach out. We’re here to ensure your wishes are honored and your loved ones are protected.

With less than 100 days left in the year, now is the perfect time to review and update your estate plan. Read through for key steps to consider before the year ends. Taking these steps now can provide peace of mind and ensure your estate plan is in order for the future. If you have any questions or need assistance, do not hesitate to give the office a call. We are here to help.

Our principal attorney, Michele Fuller, is hosting a webinar on Guardianship vs. Power of Attorney next week September 11 from 12:00pm - 1:00pm. She will cover the key differences between these legal tools and when each is appropriate. You'll learn when guardianship is necessary for added protection, particularly in cases of incapacity or vulnerability, and when a power of attorney might be sufficient. We want you to leave informed and confident about the best legal protections for your loved one with special needs. Register Here ⬇ https://lnkd.in/dPCsfJcX For more information, check out our website ⬇ https://lnkd.in/dmkHs2WS

As the summer comes to a close, we're saying goodbye to our incredible intern, Thea, who has been a fantastic part of the Michigan Law Center team. Thea has contributed so much to the team with her hard work, dedication, and enthusiasm. We wish Thea all the best as she heads back to Michigan State University to start her senior year. Your future is bright, Thea, and we have no doubt you'll achieve great things! Thank you for everything!

Only ONE week left! The Great Lakes Special Needs Planning Symposium is approaching quickly! Don't fret, late registration is still open for another week. Join us virtually or in-person at the beautiful MGM Grand Detroit for two days of education, enjoyment, and professional enrichment. Click to register ➡️ https://lnkd.in/g-3FYxV7