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Use this menu to find other Eldercare Services in your area |
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Michigan Estate, Tax, Trust, Retirement, or
Medicaid Planning |
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Adrian MI - Michigan tax planning and trusts -- Benz William A PLLC , Lenawee County Click to request assistance
Ann Arbor MI - Michigan trust asset management -- Alfreda Menlove, Washtenaw County Click to request assistance
Ann Arbor MI - Michigan charitable remainder trusts -- CGC Inc, Washtenaw County Click to request assistance
Ann Arbor MI - Michigan living wills and medical directives -- Bertram Terrence A Attorney At Law , Washtenaw County Click to request assistance
Berkley MI - Michigan estate taxes, income taxes and capital gains -- John T Hermann Law Office, Oakland County Click to request assistance
Big Rapids MI - Michigan end of life bereavement -- Dayspring Advisors Group, Mecosta County Click to request assistance
Bloomfield Hills MI - Michigan tax planning and trusts -- Lau Lau Associates LLC, Oakland County Click to request assistance
Brighton MI - Michigan trust asset management -- Estate Planning Service, Livingston County Click to request assistance
Clarkston MI - Michigan charitable remainder trusts -- Common Cents PC, Oakland County Click to request assistance
Coldwater MI - Michigan living wills and medical directives -- Raymond James Financial Services Inc., Branch County Click to request assistance
Coloma MI - Michigan estate taxes, income taxes and capital gains -- F Ronald Postelli Law Office, Berrien County Click to request assistance
Davison MI - Michigan end of life bereavement -- Senior Care of Michigan, Genesee County Click to request assistance
Eastpointe MI - Michigan tax planning and trusts -- Eastside Attorneys PLLC, Macomb County Click to request assistance
Flushing MI - Michigan trust asset management -- Senior Benefit Service of Michigan, Genesee County Click to request assistance
Flushing MI - Michigan charitable remainder trusts -- Senior Estate Planning Group, Genesee County Click to request assistance
Fowlerville MI - Michigan living wills and medical directives -- FRA Michigan, Livingston County Click to request assistance
Grand Rapids MI - Michigan estate taxes, income taxes and capital gains -- Estate Preservation Agency, Kent County Click to request assistance
Grand Rapids MI - Michigan end of life bereavement -- Ameriprise Financial, Kent County Click to request assistance
Holland MI - Michigan tax planning and trusts -- Estate Plan Transfer, Ottawa County Click to request assistance
Houghton MI - Michigan trust asset management -- Bruce A Rukkila CPA, Houghton County Click to request assistance
Iron Mountain MI - Michigan charitable remainder trusts -- Nancy Schaub, Dickinson County Click to request assistance
Kalamazoo MI - Michigan living wills and medical directives -- Julie K Phillips Law Offices, Kalamazoo County Click to request assistance
Lansing MI - Michigan estate taxes, income taxes and capital gains -- David J Ambrose PC, Eaton County Click to request assistance
Lansing MI - Michigan end of life bereavement -- United Senior Alliance, Eaton County Click to request assistance
Lansing MI - Michigan tax planning and trusts -- Machado Planning Group, Eaton County Click to request assistance
Livonia MI - Michigan trust asset management -- EDU Tax Advisors, Wayne County Click to request assistance
Ludington MI - Michigan charitable remainder trusts -- Andrews Robert D Attorney , Mason County Click to request assistance
Mason MI - Michigan living wills and medical directives -- John D McPhee & CO Tax Cnsltnt, Ingham County Click to request assistance
Middleville MI - Michigan estate taxes, income taxes and capital gains -- Center for the Avoidance, Barry County Click to request assistance
Muskegon MI - Michigan tax planning and trusts -- Edmonds & Engemann Estate Sales & Appraisals, Muskegon County Click to request assistance
Northville MI - Michigan trust asset management -- Kathryn S Darragh, Wayne County Click to request assistance
Okemos MI - Michigan charitable remainder trusts -- United Financial Systems Corporation, Ingham County Click to request assistance
PawPaw MI - Michigan living wills and medical directives -- Schuitmaker Cooper & Schuitmaker PC, Van Buren County Click to request assistance
Plymouth MI - Michigan estate taxes, income taxes and capital gains -- Asset Protection Strategies, Wayne County Click to request assistance
Saint Clair Shores MI - Michigan end of life bereavement -- Donahue & Ramadan, Macomb County Click to request assistance
Southfield MI - Michigan tax planning and trusts -- Advanced Strategies Group, Oakland County Click to request assistance
Southfield MI - Michigan trust asset management -- Estate Planning Institute, Oakland County Click to request assistance
Southfield MI - Michigan charitable remainder trusts -- Lynn L Lower JP POC, Oakland County Click to request assistance
Sturgis MI - Michigan living wills and medical directives -- Norman & Paulsen, St. Joseph County Click to request assistance
Trenton MI - Michigan estate taxes, income taxes and capital gains -- Key Concerns Inc, Wayne County Click to request assistance
Troy MI - Michigan end of life bereavement -- Bannon & Associates, Oakland County Click to request assistance
Troy MI - Michigan tax planning and trusts -- Estate Information Service Inc, Oakland County Click to request assistance
Troy MI - Michigan trust asset management -- Salyers & Associates, Oakland County Click to request assistance
Troy MI - Michigan charitable remainder trusts -- Secure Investment Planners, Oakland County Click to request assistance
Waterford MI - Michigan living wills and medical directives -- JCL Enterprises, Oakland County Click to request assistance
Waterford MI - Michigan estate taxes, income taxes and capital gains -- Clay E Ottoni, Oakland County Click to request assistance
Williamston MI - Michigan end of life bereavement -- Estate Planning & Preservation, Ingham County Click to request assistance
Zeeland MI - Michigan tax planning and trusts -- LVS Professional Service Inc, Ottawa County Click to request assistance
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Contact Michigan Estate, Tax, Trust, Retirement, or Medicaid Planning
For the convenience of the public, care providers are listed on this page to show services available in a particular area. We cannot verify the business practice or the background of providers listed on this page. As a result, we do not provide contact information. Members of the Michigan Care Planning Council, listed on this site, have agreed to abide by a code of ethics. If you wish to contact a member of the Michigan Care Planning Council regarding any of the eldercare services listed on this page, please fill out the form below and a council member will contact you. Please be aware that your information may be shared with other members of the Care Planning Council who might be able to help you as well. Read Our Disclaimer.
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Let Us Help You with Your Eldercare Problems or Questions
The Michigan Care Planning Council (MiCPC) lists companies and individual providers on this website who help families deal with the crisis and burden of long term care. One purpose of this website is to educate the public on the need for care planning before a crisis occurs. A second purpose is to provide, in one place, all of the available government and private services for eldercare. Finally, our ultimate mission is to offer a trusted listing service that the public will recognize and turn to for expert help in dealing with the challenges of long term care. |
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About Estate Planning and Trust Management
Estate Planning
Trust Management
Estate Planning
A key deficiency in the process of planning for long term care occurs when seniors fail to provide for orderly distribution of assets at death and fail to let their family know what to do when the senior can no longer handle his or her own affairs.
Estate planning from a qualified estate planning attorney, a financial adviser who specializes in estate planning or a CPA planner is the design of documents to provide the orderly transfer of assets and property to the next generation. Wills, living trusts and a myriad of other trust documents or business arrangements to avoid estate taxes, income tax and real estate capitol gains are some of the principal documents used. Estate planning also concerns issues of business succession or disability of a business owner.
Many estate planners are also adding final directive or end-of-life documents such as living wills, powers of attorney and special medical directives. But often these are considered secondary to the process of transferring assets or property. Unfortunately, these documents are much more important to family caregivers dealing with the needs of elderly loved ones.
Estate planners also need to become more involved in the planning process for long term care by helping in the production of a written long term care plan. This should also include meetings with potential family caregivers and instructions or checklists for these people. This important aspect of planning is often overlooked.
Elders or their families who are assisting them should insist on more careful planning for long term care issues when doing an estate plan.
Some advisers have recognized this need and have put together a team of experts such as attorneys, care managers and financial planners who provide a more complete and comprehensive approach to estate planning, long term care and end-of-life issues.
Trust Management
Many people who create trusts or wills or both will designate a trust company or bank to be a trustee for their property instead of using a member of the family or close friend to do this. The reason is that, all too often, assets are mismanaged or even stolen by family members or friends. Using a trust company that has a legally mandated, public fiduciary responsibility avoids this problem.
Trust companies are valuable partners in the management of trusts and in the process of estate planning. These companies, for a small fee, will manage and invest assets, maintain escrow accounts, hold property pending an exchange sale, provide life insurance and income annuities and provide safekeeping of valuables.
A trust is a legal document that "entrusts" property to a trustee (a bank, attorney, individual or trust company) to manage for a person or persons (beneficiaries of the trust) whom the maker of the trust wants to benefit. In most cases, the maker of a trust is creating a benefit for a loved one that will be distributed after the death of the creator or maker of the trust. Trusts usually involve very specific and detailed instructions on how a trustee is to carry out the duty of managing or distributing the property on behalf of a beneficiary.
A trustee will manage investments, keep records, manage assets and prepare court accountings, paying bills and (depending on the nature of the trust) medical expenses, charitable gifts, inheritances or other distributions of income and principal.
A trust relationship is also created in a will when the maker of the will specifies an entity to be an executor or personal representative of the estate. This person or company then becomes a trustee for the deceased individual who made the will. The responsibilities of an executor in settling the estate of a deceased person include collecting debts, settling claims for debt and taxes, accounting for assets to the courts and distributing wealth to beneficiaries.
A third party trust officer such as a bank, attorney or trust company may also assume the role of a guardian for a minor child, distributing assets in a prearranged manner when the child becomes an adult. Or the trust officer may also act on behalf of a developmentally disabled or mentally retarded person distributing assets under a special needs trust.
Trusts are most often used with estate planning. The purpose of estate planning is to minimize the cost and streamline the process of distributing assets to the next generation. Here are some of the more common reasons people create trusts in estate planning.
- To avoid probate
- To minimize or eliminate estate taxes
- To create life insurance trusts
- To avoid capital gains taxes on the sale of property
- To create an annuity income through charitable gifting
- To receive a charitable gifting income tax deduction
- To manage assets on behalf of a minor or someone who can't handle his or her own affairs
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