Archived Program - Will the State of Michigan Take Your Home After Yo…
While Tom is out of the office today, please enjoy this archived program in which Tom discusses Michigan's Medicaid Estate Recovery law that requires the State of Michigan to recover the cost of Medicaid benefits that were paid for you …
The Good, The Bad and The Ugly of Having Multiple Trustees
Enjoy this archived episode in whichTom talks about what you should consider if you are thinking about naming multiple children as trustees, personal representatives, or agents under powers of attorney.
When Do Your Various Estate Planning Documents Take Effect?
Tom is out of the office today...so please enjoy this archived edition of his previous episode in which Tom talks about when various estate planning documents (i.e. Will, Trust, Power of Attorney, HealthCare Power of Attorney) become effective, and...
Have You Updated Your Estate Plan to Account for These Changes in the…
Tom discusses several changes in the law that might require your estate plan to be updated.
Don’t Leave Your Children With A Cash Poor Estate
Tom discusses the importance of making sure that if your home is going to go through probate, that there will be adequate cash available in the estate to pay ongoing expenses until the home is sold.
The Other Estate Planning Document That Everybody Should Have
Two weeks ago Tom told you why everyone should have a Power of Attorney for Health Care. In today's show, Tom discusses another document that you need as part of a complete estate plan.
Death and Taxes…How to Avoid Both of Them
Tom talks about taxes related to dying, and how you can use your estate plan to avoid them.
The One Estate Planning Document That Everybody Should Have
Do you have the one estate planning document that everyone should have? Tom tells you what it is, and explains why you need it.
How You Can You Use Your IRA to Buy a House
Tom discusses how you might be able to use money that you have saved in an IRA to purchase a new home, without incurring the 10% early withdrawal penalty.
Be Sure Your Home is Ready for You to Die
In today's episode, Tom discusses the importance of organizing your home in order to assist your estate administrator in locating your important documents, hidden money, jewelry, etc..
Answers to Common Questions About Funeral Planning
Tom answers common questions about planning your funeral...including whether you have to use the services of a licensed funeral director, who has the right to plan your funeral if you don't, do you have to purchase a casket from a …
Why Married People Should Not Jointly Own Their Cars
Tom explains why married people are exposing their home to creditors when they jointly own a car.
Will the State of Michigan Take Your Home After You Receive Medicaid?
Tom discusses Michigan's Medicaid Estate Recovery law that requires the State of Michigan to recover the cost of Medicaid benefits that were paid for you from your estate after you die. Without proper planning, this can result in the State …
What Is A Do-Not Resuscitate Order (DNR), And How Do You Get One?
In this one-year anniversary episode, Tom explains what a Do-Not-Resuscitate Order (DNR) is, and how to get one.
PRESIDENT TRUMP’S TRUST – HOW BLIND IS IT?
In today's episode, Tom analyzes The Donald J. Trump Revocable Trust, compares it to a normal revocable trust, concludes that it is not a blind trust, and discusses why that matters to him.
Married Women Lose Dower Rights in Michigan
Tom discusses dower rights of married women in Michigan, how recently enacted legislation eliminates those rights, and what the consequence will be for married women in Michigan.
When Do Your Various Estate Planning Documents Take Effect?
In today's episode Tom talks about when various estate planning documents (i.e. Will, Trust, Power of Attorney, HealthCare Power of Attorney) become effective, and when the fiduciaries (i.e. Personal Representative, Trustee, Attorney in Fact, Patient...
Asset Protection For The Rest Of Us Using Michigan’s New Qualified Di…
Tom discusses Michigan's new Qualified Dispositions in Trust Act that makes it easier to create a trust to protect your assets from your creditors. Find out how simple it can now be to protect what you own from risks of …
Should You Make Your Child A Joint Owner Of Your Home?
Tom discusses a number of things that you need to consider before making your child a joint owner of your home, including loss of control, liability for your child's creditors, gift taxes and capital gains taxes.
The Good, The Bad and The Ugly of Having Multiple Trustees
Tom talks about what you should consider if you are thinking about naming multiple children as trustees, personal representatives, or agents under powers of attorney.
Setting and Reaching Goals in a Marathon
Tom talks about how his experience from running marathons might help you to complete your 2017 New Year's Resolutions.
What if Santa Gets Hurt Coming Down The Chimney of Your Rental Home?
Tom discusses how using an LLC for rental property can protect your estate from law suits by tenants or their guests who get hurt on the rental property. Today’s estate planning tip is for married people…think before transferring your home …
While One IRA is good, more than one can be even better
While much of the conventional financial advice suggests that you roll multiple IRAs into one, Tom discusses a number of reasons to consider spreading your retirement savings around into multiple IRAs.