Articles Posted in Estate Planning

Probate Vs. Nonprobate Assets
Patrick & Associates, PLLC

When an individual passes away, their property must be gathered and distributed in line with their wishes and all applicable state laws — a process that is commonly referred to as probate.  If you want to simplify or avoid the Michigan probate process for your estate, one important aspect to understand is the distinction between…

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Serving as a Personal Representative: What You Need to Know
Patrick & Associates, PLLC

Losing a loved one can be an incredibly difficult and stressful time. On top of dealing with the grief of your loss, it’s also important to consider the legal aftermath your family must face as your loved one’s estate moves through the Michigan probate courts. Estate administration and probate can become even more complex when…

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Understanding 10 Common Types of Trusts in Michigan
Patrick & Associates, PLLC

Preparing a comprehensive estate plan can help ensure that your most important assets will be managed in accordance with your wishes both during your lifetime, and after you pass away. Just as crucially, your estate plan can help ensure that your loved ones will be supported during a difficult and emotional time. Here in Michigan,…

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Joint Tenancy Vs. Tenancy in Common Vs. Tenants by the Entireties
Patrick & Associates, PLLC

Whether you’re a married couple buying a home together; family members planning to share a vacation home or cottage; or business partners ready to purchase and develop an investment property, it’s important to understand the different ways in which real property may be co-owned here in Michigan. There are multiple forms of co-ownership for real…

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