THK Blog
Articles of interest written by THK attorneys for clients and friends to help them make the most informed legal decisions
Influencing Your Heirs: 4 Tips for an Effective Incentive Trust
Estate planning isn’t just about sharing wealth with the younger generation. For many people, it’s equally important to share one’s values and to encourage their children or other heirs to lead responsible, productive and fulfilling...
Funding Long-Term Care Expenses: What Are Your Options?
Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing home or assisted living facility stay — at some point in their lives. And the...
Estate Planning and Asset Protection Planning Go Hand in Hand
As a business owner, your company is likely your most valuable asset. And you know that you must account for it in your estate plan to help ensure that it remains a valuable asset for your heirs. Thus, a key goal should be to insulate...
Planning for the Death of Beneficiaries
When planning for the disposition of your estate, it’s critical to understand what happens if a child or other beneficiary predeceases you. There’s no one right way to deal with this contingency, but to avoid unintended results your...
What You Need to Know About the End of Medicaid’s Public Health Emergency
For the past three years, Medicaid has been operating under special procedures mandated by the Public Health Emergency (PHE) in response to COVID. Before the pandemic, people were required to undergo periodic eligibility checks (known as...
Estate Planning When a Loved One has Dementia or Alzheimer’s
With Alzheimer’s, or another disease which causes dementia, estate planning takes on a new level of both urgency and complexity. For many families, it can feel like time is running out to ensure your loved one is taken care of well...
Michigan Court Stops Big Changes for Sick Leave and Minimum Wage – For Now
Michigan employers have been working with the state’s Paid Medical Leave Act since 2019. For a refresher, you can access the state-required poster here. It provides a good summary of the law and the rights it confers on employees....
Estate Planning Pros and Cons of Joint Property Ownership
There’s a common misconception that owning assets jointly with a child or other heir is an effective estate planning shortcut. While this strategy has a certain appeal, it can invite a variety of unwelcome consequences that may quickly...
Should You Use Retirement Accounts to Fund Gifts?
If you’re like many people, a significant portion of your wealth can be found in IRAs and other tax-deferred retirement accounts. Traditionally, these accounts have been viewed as off limits when it comes to funding lifetime gifts, given...
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