Tuesday with Tom

In today's episode of Tuesday with Tom, we're diving into what really happens if you die without a Will in Michigan. Who gets your assets? What if you have no close family? I'll walk you through the State's Intestate Succession laws and explain why having a Will — even a simple one — can save your loved ones time, money, and stress. Plus, I'll share how Amanda and I can help you create or update your estate plan, and the convenient ways you can get started.

If you've ever wondered what a trust actually does or whether you need one, this episode is for you.

Are you confused about trust funding? Episode 317 breaks it down for you! Join us as we simplify the complexities and guide you through the essentials. Don't miss out!

Are you prepared for the unexpected?

Did you know that the political and economic uncertainty you are all feeling puts you at greater risk of death or incapacity? In today's episode Tom explains that increased risk, and why now is the time to get your estate plan in order.

In today's program, Tom explains how deeding your home to your children during your lifetime can end up costing your children a 20% Capital Gains tax when your home is sold.

Ever wondered if Santa's sleigh full of gifts comes with a side of IRS paperwork? In this festive and thought-provoking episode, we explore whether the jolly old elf is subject to gift taxes.

When managing an Irrevocable Life Insurance Trust (ILIT), one critical yet often overlooked step is sending Crummey letters to the beneficiaries. Have you sent yours?

Did you know that putting your home in a trust can impact your homeowner's insurance? In our latest episode, we dive into the crucial question: Does your insurer know your home is in your trust? Tune in to Episode 309 for insights that could save you from potential pitfalls!

In today's fast-evolving financial landscape, understanding tax reporting for digital assets is crucial. Tune into our latest podcast episode for information on your tax reporting obligations.  #DigitalAssets #Finance #Podcast

Understanding the implications of the increased federal estate tax and gift exemptions is crucial for effective estate planning. Join the conversation on how these changes can affect your financial future. 

Did you know? Removing your home from your trust might be necessary for Medicaid eligibility in Michigan. Listen to our latest episode for essential tips! #Medicaid #Michigan

 Be sure you understand how Michigan's new Uniform Power of Attorney Act, that went into effect on July 1, might require you to replace your current Power of Attorney.

In the realm of estate planning, a Last Will and Testament, commonly known as a Will, is often seen as the cornerstone document. However, there's a common misconception that having a Will in place means your assets won't have to go through probate.

Learn more about the importance of MiABLE accounts for special needs children!

Understanding the different types of Special Needs Trusts is essential for families and caregivers to make informed decisions about their loved one's future financial planning.

In today's episode Tom discusses some the reasons that you might consider using a professional trustee.

Discover what a Trusteed IRA is, and why it may be the better choice for you!

If you are considering a reverse mortgage, don't be fooled by these 6 reverse mortgage myths.

If you are considering naming minor children as primary or contingent beneficiaries on your IRA or 401(k), be sure you understand what will happen upon your death.

Enjoy our 8th anniversary podcast in which Tom plays the very 1st podcast from February 23, 2016 "What Is An Estate Plan".

Have you moved since your estate plan was prepared? Finld out if you need to update your documents to reflect your new address.

The Michigan Department of Treasury has millions of dollars in lost or forgotten assets from dormant bank accounts, uncashed checks, valuables left in safe deposit boxes and stock certificates. Celebrate National Unclaimed Proprty Day by finding out if any of it is yours.

Check out this new Tuesday with Tom episode where he discusses whether you should name your children as 'joint' or 'co' successor trustees. It's an informative conversation about estate planning in Michigan!

Did you know that in 2026 most American's will see their taxes increase due to the expiration of Trump's tax cuts? Tom discusses the pending changes that might increase you taxes, and what you might be able to do now to minimize your increase.

To begin the new year, Tom reviews many of the 2024 changes relevant to estate planning and settlement, including Estate and Gift Taxes, Retirement contribution amounts, 529 Plans and Michigan Durable Powers of Attorney.

If you have been appointed as financial and/or medical power of attorney, be sure you understand the limits on your authority.

A witness can serve an important function in the execution of your Durable Power of Attorney. Be sure you understand the execution and witnessing requirement for your Durable Power of Attorney.

If you are going to have a trust as part of your estate plan, be sure that you understand important differences between a Testamentary Trust and a Living Trust.

Sometimes, questions that have to be asked to prepare your estate plan are uncomfortable. They are not being asked by the attorney simply to be nosy, but are being asked to make sure that an appropriate estate plan is being prepared for you.

A witness serves an important function in the execution of your Power of Attoney for Health Care. Be sure you understand who cannot be a witness to your Will Power of Attoney for Health Care.

A witness serves an important function in the execution of your final Will. Be sure you understand who can and cannot be a witness to your Will

Be sure you understand how your heirs might be affected by new IRS rules changing how step-up in basis applies to certain assets.

You are sending your student away to college, but does she have theses 2 documents that every college student should have?

Not sure if you need a Trust or a Will? Here are six reasons for choosing the Trust

In today's archived episode Tom discusses a case in which a woman in a long-term care facility died because there was confusion about her end-of-life wishes as documented in her chart and her Living Will.

Are you interested in protecting farmland from being developed? In today's podcast Kara O'Connor, from American Farmland Trust, explains what agricultural conservation easements are and how they are used to protect farmland from development.

Tom discusses several ways that SECURE 2.0 Act, signed into law in late December 2022, might affect your retirement planning.

Tenants in Common ... Joint Tenants ... Joint Tenants with Rights of Survivorship ... Tenants by the Entireties. Be sure you understand how you own your Michigan real estate.

As a follow-up to last Week's episode about how to reject an inheritance, Tom discusses 6 times when it can make sense to say No to an inheritance.

Disclaimers…What they are…how they work…what they are used for

Does today's volatile stock market and uncertain economy have you worried? Tom discusses Certificates of Deposit as investments, and how to make your CD yields higher with a CD ladder.

Just like your home, spring is a good time to clean your estate plan.

The Roth IRA "five-year rule" can trigger an unexpected tax bill, even after age 59 1/2.

Enjoy our 7th anniversary podcast in which Tom plays the very 1st poscast from February 23, 2016.

If you are thinking about naming a sibling as a beneficiary on a life insurance policy to manage the insurance proceeds for your minor child in order to avoid probate, STOP! Listen to today's episode.

If you have a manufactured or mobile home in mobile home park, you will want to listen to this episode.

Be sure you understand what your pour-over Will does, and does not, do.

Calling upon his 40+ years of experience in working with clients, Tom explains what every estate plan must include.