Is it possible to reconcile after a divorce?
Sheehan & Associates, PLC Blog
by aprilfaxonvertumarketing
3M ago
Every year, thousands of spouses in Michigan and across the United States end their marriages and go their separate ways. However, after spending months or years apart, some spouses who divorce could discover that their love never faded. In some instances, divorced spouses may want to reconcile and get back together. What follows could help make reconciliation after divorce successful.  Don’t rush  Just because a couple has decided to reunite doesn’t mean they should move in together and return to married life. Treat this reconciliation as a new relationship and do not rush things. D ..read more
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What makes a holographic will valid in Michigan?
Sheehan & Associates, PLC Blog
by christelle.arcangel@thomsonreuters.com
3M ago
Drafting a will is a common way for people to express their wishes regarding their estate or other affairs after death. Courts typically acknowledge wills, especially if they meet the standards that support their validity. However, depending on the details and type, some factors can impact a will’s enforceability. Wills usually need to have specific features to retain their validity. Most of the time, the process of creating a will requires the help of a legal professional to ensure it qualifies as enforceable. Sometimes, an individual may prefer to write it by hand, which is a holographic wil ..read more
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Avoiding probate and other benefits of a living trust
Sheehan & Associates, PLC Blog
by aprilfaxonvertumarketing
3M ago
One of the misconceptions about trusts is that they are only beneficial to wealthy families. However, trusts have certain advantages that can benefit nearly every Michigan family. Living trusts have become popular estate planning tools because they offer many benefits, such as the ability to avoid probate. Avoiding probate is just one of the many benefits of living trusts. How living trusts avoid probate In its most basic form, a living trust is a legal document that creates an entity – a trust – to hold a person’s property and assets during their lifetime and specifies what happens to the ass ..read more
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Can anyone make a will in Michigan?
Sheehan & Associates, PLC Blog
by cassandranicole.policarpio@thomsonreuters.com
3M ago
An estate plan can involve many different instruments and legal arrangements, but none is more common than a will. A will is a document that enables you to explain your last wishes regarding the assets in your estate. It can also allow you to dictate your advanced health care directives and appoint a guardian to care for your minor children. Any person of legal age (18 years of age or older) “who has sufficient mental capacity” may make a will, regardless of the size of their estate. The problem is most people choose to delay estate planning to the point that their mental capacity is already l ..read more
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Making the right financial preparations amid divorce
Sheehan & Associates, PLC Blog
by aprilfaxonvertumarketing
4M ago
The process of formally ending a marriage in Michigan will bring about many life changes for anyone who goes through it. Just thinking about divorce proceedings can cause anxiety. The cost and amount of time it takes often add to the stress. Making the right preparations can ensure that ending a marriage does not do long-term financial damage. Track expenses As soon as divorce becomes inevitable, make a list of household expenses and income. Include household bills, clothing, transportation, food, home maintenance, entertainment and anything else that money is spent on. This data will help wit ..read more
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Do you need to prove fault when filing for divorce in Michigan?
Sheehan & Associates, PLC Blog
by cassandranicole.policarpio@thomsonreuters.com
4M ago
Every state has adopted its own version of no-fault divorce laws. In Michigan, you can file for divorce by simply stating that there has been an irretrievable breakdown of the marital relationship. Although, the state does have two residency requirements: You or your spouse must have lived in the state for at least 180 days before filing. You or your spouse must have resided in the county where you choose to file for at least 10 days before filing. The divorcing spouses do not need to live separately for a minimum period. All that matters is that you meet the residency requirements. The import ..read more
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Creating a charitable trust and choosing a trustee
Sheehan & Associates, PLC Blog
by willcrain
4M ago
If you have a charity or cause that is close to your heart, you may want to create a charitable trust which can help support the organization long term. Charitable trust First, the trust documents should clearly state the purpose and the mission of the charitable trust, including who will benefit from the trust and what its goals are. It’s also important to choose a name for the trust and check to make sure that it is not already in use. The trust documents should name a trustee, outline their powers and duties and include instructions for how a new trustee will be appointed, if needed. The tr ..read more
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A comprehensive estate plan can benefit nearly every family
Sheehan & Associates, PLC Blog
by aprilfaxonvertumarketing
4M ago
It’s safe to say no one loves talking about death. This is one of the many reasons why planning for this inevitable event is something that many families put off. It is estimated that nearly half of all Michigan residents do not have a will or any kind of estate plan. Here are some ways a comprehensive estate plan can be beneficial for nearly every Michigan family. Protection Most families want to protect their assets and keep heirlooms within the family. This is a big reason why having an estate plan is essential. Families can use documents like trusts and wills to allocate property and asset ..read more
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What are the duties of a personal representative?
Sheehan & Associates, PLC Blog
by christelle.arcangel@thomsonreuters.com
4M ago
When an individual dies, it is likely for their estate to undergo probate based on its size and details. This process has many requirements, including the appointment of a personal representative. Ideally, the decedent already has someone named in their will. If not, the court can appoint a person for this role, possibly a surviving family member or another party with the qualifications to do so. This position usually involves significant responsibilities, such as managing and administering the decedent’s estate. Sometimes, it is preferable for a relative to take on the role, depending on whet ..read more
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How to help children cope with a parental divorce
Sheehan & Associates, PLC Blog
by aprilfaxonvertumarketing
5M ago
For some marriages in Michigan, divorce eventually becomes the best path forward. Understandably, a parental divorce will have certain effects on the children. The kids may feel like their entire world has been turned upside down. Some children will blame themselves, and some children may develop resentment toward their parents. Although there are no easy ways to get through a divorce, there are a few ways parents can help their children cope with one.  Listen to them  Children experience divorce much differently than adults. They may be frustrated or sad about things that their pare ..read more
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