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No. One of the advantages of a trust over a will is that a trust does not have to go through probate before assets are distributed to beneficiaries. A trust is usually more expensive and complicated to set up than a will; on the other hand, it can take anywhere from 6 to 18 months (or longer) for a will…
Latisha always wanted to be her own boss, and she knew that she had some dynamite recipes for picnic foods that could make the core of a solid catering business. She already was in the semi-business of barter, where she would make trays of food for gatherings of family and friends in exchange for favors and repairs around the house.…
During any given week throughout courtrooms in Michigan, judges calmly decide the merits and validity of wills meant to convey property from the deceased to their heirs. But because the process moves smoothly in modern courtrooms, we forget that army legions and navy fleets were once sent into war over the particulars of wills — and that was never more…
Last month I was interviewed by Stewart Andrew Alexander for Impact Makers Radio on what advice I had for adults who were contemplating divorce, in the midst of divorce, or dealing with ex-spouses after the final judgement. Stewart wanted to interview me for his “Let’s Talk Divorce!” radio series after reading several of the blogs that I posted here on…
Josh and Debra knew they had a lot in common when they met: love of travel and the finer things in life, ambition to distinguish themselves in their professional careers, and a desire to serve their community and those in need. With so much to accomplish, Debra and Josh also knew when they married that having children probably wasn’t in…
High school seniors Bob and Jamie dated for a few months and broke up, only to find out weeks later that Jamie was pregnant with Bob’s child. Over their parents’ objections, they tried to smooth over their differences by getting married soon after graduation. After two years of marriage, the couple divorced when it became clear they weren’t compatible in…
Life for Sally and Harry starts to take a more established path after 8 years of marriage, now that they’ve just had their third child and Harry has moved up the ranks at work. Harry’s job has gone so well that the couple decide they can afford to have Sally work at home full time taking care of first grader…
Charlie and Sonya thought they were doing well five years into their marriage in regards to their finances and future. After their wedding, they opened a joint bank account that included automatic deposits of their paychecks, and they named each other as beneficiaries on life insurance policies and 401(k) retirement accounts. Charlie and Sonya also met with a local attorney…
Claire had always been a go-getter when it came her studies in high school, so it wasn’t a surprise to her parents Harry and Sally when she announced plans to attend college. On the contrary, Sally and Harry would have been disappointed if Claire had passed up the opportunity to make the most of her academic talents. But while they…
As they approached their 15th wedding anniversary, Harry sprung a surprise on his wife Sally — a 2-week whirlwind vacation in Europe for two in July, without their three children who attend grade school and are no longer in need of constant care. Harry had already asked Sally’s retired parents if they could take care of Claire, Ethan, and special…