We are talking about life insurance and its place in an estate plan. As we explained in our Nov. 16 post, life insurance can be part of a retirement plan, too. If you own your own policy, and the policy is for permanent life insurance, you may be abl…
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A life insurance policy can be an important part of an estate plan for a few reasons. First, the payout is not counted as taxable income. Also, the payout processes more quickly than a lump sum bequest. While your personal representative goes through…
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On its FamilyFacts.org website, the conservative Heritage Foundation has collected some interesting statistics about inheritance and divorce that we thought fit nicely with our discussion of property division in divorce. Research has shown, for examp…
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When we’re younger, we can’t wait to get older; but when we’re older, we wish we were young again. For many, this sentiment stems from the fact that as we age, our health typically begins to fail, causing a plethora of problems many wou…
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Estate planning will be a little less complicated for Michigan’s same-sex married couples in the wake of the U.S. Supreme Court’s decision in Obergefell v. Hodges. The state abolished the estate tax years ago, so nothing will change there…
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