Making Informed Decisions About Your Estate Plan

People often have ideas of how they would like their estate distributed or how personal matters should be handled upon their death, yet they are not always sure how to accomplish these goals.

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What Is a Fiduciary Duty?

A fiduciary duty is like the “golden rule,” whereas we are required to “treat others how we would like to be treated” within the scope of a professional relationship.

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What is a charitable remainder trust?

A charitable remainder trust is an irrevocable trust that allows a donor to make a gift to a trust, then receive income from the trust during the donor’s lifetime.

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Are prenuptial agreements enforceable in Michigan?

在密歇根, when a “prenuptial agreement is clear and unambiguous; changed circumstances do not render its enforcement unfair and unreasonable. Accordingly, the agreement should be enforced.”

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Is a hypothetical promise enforceable?

在合同法中, an illusory promise is unenforceable due to indefiniteness, or lacking mutual obligation. For example, owner of a business forms an agreement to “pay for products if he feels like it.”

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Does a contract have to be in writing to be enforceable?

这取决于. State law varies; however, generally, pursuant to the Restatement (Second) of Contracts § 110, 某些合同, 受法规约束, are not enforced unless there is a written memorandum or an applicable exception.

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