Who Do You Want To Run Your Business When You Retire?

When an entrepreneur starts a business, it can sometimes be hard to imagine anyone else doing their job. Small business owners can pour years, even decades, of hard work into getting their processes, vendors, and contracts in place. But as the years press on, eventually you may want to slow down. Then the question becomes […]

Checklist: What To Do When A Loved One Dies

The emotional toll of a family member’s death can be sudden and unpredictable, and it can make even the most rational person wonder what to do next. Keep this checklist handy so that you know what to do when a loved one dies. Preparation Can Ease The Transition For Loved Ones A healthy dose of […]

A Healthy New Years Resolution that Doesn’t Require Exercise or Kale

An estate planning checkup is key to your financial health. Another year has flown by – meaning there’s a fresh, new one ahead. With a clean slate, you can make choices that will reap benefits in the upcoming year – and many years after. One thing many of us seem to put off (besides heading back […]

5 Ways Estate Planning Can Help While You Are Alive

When most people hear about estate planning, they think about wills and testamentary trusts – things that take effect after they have passed away. However, there are key parts of any complete estate plan that can help while you are alive. Medical Directives Guide Healthcare Decisions When You Can’t Medical directives, also sometimes called living […]

Building Your Estate Administration Team Of Professionals

Being named executor to a large estate can be intimidating. Executors are responsible for paying off creditors, distributing assets, and honoring loved ones’ last wishes. But executors don’t have to do it alone. By building an estate administration team of professionals, executors can fulfill their duty to the estate and protect their family or friends’ […]

When To Start Estate Planning

When should you start estate planning? When you have a child, buy a house, earn your first salary? What about when you graduate from high school? Find out when to start estate planning, and why it is important for everyone from age 18 to 108. Many people assume if they are young, healthy, or have […]

Should You Buy or Sell Your House Using a Land Contract?

You may be thinking of buying a house. Throughout your search for your next home you may come across homes for sale on a land contract. So, what exactly is a land contract, and is it a good idea to enter into one? Top Bloomfield Hills attorneys from the Cronin Law Firm answer this question below. What […]

Charitable Planning for Your Estate

Charitable giving techniques are typically used for those who have accumulated wealth that is subject to estate tax after death.  Estate tax rates are as high as 50% and those who have worked hard to create and accumulate assets often opt to utilize charitable giving techniques to minimize taxation while creating a legacy without depriving […]

Revocable Living Trusts & Your Estate Plan

Revocable Living Trusts A trust is a contract between the Grantor (the person who creates the trust), the Trustee (one who controls the trust), and the beneficiaries (those entitled to benefit from the trust).  You, as Grantor, determine how the trust will be operated by the Trustee and who benefits, how, and when.  You can […]

Medicaid and Your Estate Plan

Assets in a revocable living trust are not protected for Medicaid purposes and must be used to pay for the costs of long-term care. If you are married, your home is exempt and cannot be taken when applying for Medicaid. If you are single or widowed, your home is exempt up to $750,000. If you […]