Powers of Attorney: What You Need to Know

At some point you may have signed a power of attorney or perhaps filled out the standard medical power of attorney (sometimes called a “Patient Advocate Designation”) at your doctor’s office. For the sake of this article, we will refer to these collectively as “POA.” These documents are designed to be used when you are unable to act for yourself. I…

Beneficiaries Receiving Public Benefits

Do you have a loved one receiving Supplemental Social Security Income (SSI), Medicaid or other means-tested public benefits? Or do you anticipate that they might in the future? This is important information to share with your estate planning attorney because if that person inherits from you, it could jeopardize his or her ability to qualify to rece…

Do Millennials Need Estate Plans?

Millennials are the generation following Generation X, described as reaching adulthood in the early 2000s. More specifically, some define the generation as anyone born between 1981 to 1996. This generation has many unique qualities making it very distinct from previous generations. Millennials have a great need for estate planning, but they may not…

Coming of Age

It’s that time of year when we look at the calendar and brace ourselves for the final days of summer. A few weeks from now, school will be back in session and college kids will be moving back to campus. For your children who are heading to college, it’s important to remember that those children are now most likely adults, so they should have a few …

Michigan Mandates Succession Plans for Investment Advisers

Effective July 3, 2019, the Securities Rules require every investment adviser in Michigan to establish, implement, and maintain a business continuity and succession plan.

The plan required by the Securities Rules contains two separate parts: continuity and succession. Continuity planning involves matters such as back-ups and contingency plans in c…