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January 2017 Archives

Preparing for mediation

Divorce is one of the most stressful and emotional events a person experience, and it is one that many Michigan residents have gone or will go through at some point. However, there are ways to make it less painful for everyone involved.

Don't forget to update your contractual obligations after divorce

A divorce requires the parties to divide not only their marital assets, but also any debts of the marital estate. Furthermore, the parties must notify any entities with whom they have contractual obligations about their changed marital status. Failing to follow through could land the parties in hot contractual waters, as a recent criminal case illustrates.

Using a Safe Deposit Box as Part of an Estate Plan

The safe deposit box is a common place to put expensive items and important documents. These locked boxes are kept in vaults in a bank, which makes them look like very secure locations for things you don't want to lose. However, the way you set up the box and how you include it in your estate plan can make all the difference to your beneficiaries.

Tips regarding the practical aspects of estate planning

You may have gone through the work of creating a revocable trust. However, unless you have retitled assets in the name of that trust, all you have is essentially a piece of paper describing a trust that you intended to create, but failed to set up because it was left unfunded.

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Bebout, Potere, Cox & Bennion, P.C.
821 North Main Street
Rochester, MI 48307

Phone: 248-805-1959
Fax: 248-651-8923
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