Estate Planning Archives - Page 3 of 3

U.S. Supreme Court decision highlights importance of updating beneficiary designations

Article by Cynthia Black Svenson and Kevin Bernys The authors’ more extensive article on Kennedy v. Plan Administrator for DuPont Savings and Investment Plan was published as a feature story in Michigan Lawyer’s Weekly on October 26, 2009. A recent U.S. Supreme Court decision illustrates the importance of regularly reviewing and updating beneficiary designations. Last […]

U.S. Supreme Court decision highlights importance of updating beneficiary designations Read More »

Risks of DIY Estate Planning: Making A Leap of Faith Without a Net

Estate Planning /

You would not step off a cliff, unless you were sure of how far the drop to the bottom was. However, individuals do this every day with do-it-yourself estate planning gimmicks, which is similar to taking a leap of faith, not knowing whether or not a net will appear. The DIY approach is wonderful for many things. But DIY

Risks of DIY Estate Planning: Making A Leap of Faith Without a Net Read More »

Understanding the Power of Appointment in Estate Planning

Estate Planning /

One often misunderstood yet valuable estate planning tool found in legal documents is the power of appointment. It should not be confused with a power of attorney, which delegates certain powers to an agent while the individual is alive. The power of appointment, when used wisely, can provide significant flexibility in an otherwise irrevocable estate

Understanding the Power of Appointment in Estate Planning Read More »