As detailed in my previous blog post "What is a fiduciary?", a fiduciary is someone who is legally empowered to manage assets on behalf of another person. Fiduciaries can disburse assets to any heirs or beneficiaries, settle outstanding credit owed by the estate, administer the payment of estate taxes, and more. Due to their autonomy, the … [Read more...]
What is a fiduciary?
When thinking about estate-planning, people often come across the word “fiduciary.” A fiduciary is someone who is legally entitled to handle the assets and liabilities (also known as an “estate”) of another person. A fiduciary’s powers over another person’s estate can be established due to the estate owner’s minority status, mental incapacitation, … [Read more...]
Can A Child Be Disinherited?
Can a child be disinherited now in Michigan? Recent case law suggests that may be so, with a twist. The case of In Re Estate of Shelby Jean Jajuga, a Michigan Appellate Court case published in October of 2015 dealt with disinheriting a child from a will. The Court’s opinion stated “[w]e hold that petitioner has a statutory right to exempt property … [Read more...]
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