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.
What is the Best Way to Disinherit a Child?
Tom discusses different strategies that can be employed when you do not want a child to receive a portion of your estate. This discussion is important to those who simply don’t want a child to receive part of their estate, …
What Happens To Your Pet When Something Happens to You?
Tom talks about what will happen to your pet if you become incapacitated or die, and how you can use a Pet Guardian Agreement or Pet Trust to provide continuing care for your pet. Tom, also, discusses the series of …
Thanksgiving – What Are We Giving Thanks For?
Tom talks about the history of the Thanksgiving holiday here and in Canada. You might be surprised to learn that it didn't start with the Pilgrims in Plymouth in 1621, but with King Henry VIII in 1536. In "Today's Tip", …
Tax Consequences of Making Christmas Gifts to Family and Friends
With the holidays right around the corner, Tom spends time talking about the tax consequences that need to be considered when you are making gifts to individuals if the total gifts to anyone person might exceed $14,000 during 2016. Tom, …
Should You Sell Your Life Insurance Policy?
Tom discusses the idea of selling your life insurance policy when it is no longer needed or, perhaps, affordable. He also reviews a number of risks that need to be considered before you enter into the sale of your life …
What Happens If The Beneficiary On An Account Dies Before You?
Tom discusses the use of beneficiary designations to avoid probate, and what happens if your named beneficiary dies before you.
Should You Have An Irrevocable Trust?
Tom explains what an Irrevocable Trust is, how it differs from a Revocable Trust, and how it might be used to avoid or minimize federal estate taxes, serve as an asset protection vehicle, or provide a tool for advanced Medicaid …
Interview – Richard Burman – A Financial Professional’s Views on Insu…
Tom interviews Richard Burman, a longtime Michigan Financial Professional. Dick shares his views on insurance, financial planning and estate planning.
The Six Most Common Estate Planning Mistakes – and How to Avoid Them
Tom discusses the most common estate planning mistakes, and recommends ways to avoid them. He, also, introduces an expanded program format with new segments.
Interview – Jackie Pulford – Things a Conservator Needs to Know
Tom and Jackie discuss the duties and responsibilities of a Conservator
How to Avoid Becoming the Victim of a Scam
Tom and his associate Amanda Bevel discuss many of the common scams that are being run to separate you from your money. They point out a number red flags that should alert you to a possible scam, provide tips on …
Why You Should Use a 529 Plan to Pay for College
Tom explains why using a 529 Plan can be a great way to pay for the costs of college education for children or grandchildren.
Don’t Say “I Do” Without An Estate Plan
Tom discusses the planning that needs to be done before you get re-married (or once you are re-married) in order to keep your estate from going to your spouse's children.
Why You Should Never Make Accounts Jointly Owned with a Child
Tom discusses the problems that can arise when you make an account jointly owned with a child, and suggests alternatives.