Pastor’s Family Feud Continues After Death

Most people hear the word “probate” and they cringe.  To avoid that sinking feeling of what to do when a loved one passes away, many people seek estate planning attorneys to complete a will or trust to prevent the need for a family to fight about a deceased’s possessions in Court.  While a good estate plan can prevent a probate fight, if they are not done properly, they can create an even larger family feud in Probate Court.

Highlighting this fact is the case of prominent national pastor Bishop William Bonner.  His family has filed a case in the Wayne County Probate Court challenging the administration of the Bishop’s will.  The family claims are summarized in the Detroit News Article that can be read at http://www.detroitnews.com/story/news/local/detroit-city/2016/01/26/bishop-family-battles-church-estate/79378916/.

Ultimately, the lesson here is, if you don’t have an estate plan, think there are issues with your estate plan, or if things have changed since you dusted it off five or ten years ago, you should talk with an estate planning attorney. 

If you believe that you have been wrongfully left out of a family member’s will, or you suspect problems with an issue, you may have a case.  In those instances, you need to contact a real probate litigator, rather than simply an estate planner.  At FausoneBohn, LLP we have experts who specialize in both.  If you have an estate planning issue, or believe that you may need to go to Court to right a wrong with a loved one’s estate plan, give us a call.

“Estate Planning 2.0:” Who controls your digital assets after your death?

Donald L. Knapp, Jr.

The term “Web 2.0” has become a popular buzzword around the Internet and many digital innovations over the past decade. Web 2.0 has allowed the creation of more “digital assets” – including your Facebook and Twitter pages, blogs, and even your online brokerage account and credit card travel miles. These digital assets can be personal or business in nature.

However, the law has lagged behind the technology in this arena. There has been a rush to create social media accounts and set-up online banking and brokerage accounts – but who controls all those digital assets after you die? Do you have an “Estate Planning 2.0” strategy to fit the Web 2.0 world?

Your digital assets are becoming one of the more important – and are certainly one of the most overlooked – components of an estate plan. While it is obvious that everyone has physical assets (home, car, personal possessions, etc.), most people today have digital assets as well.  And until state and federal laws catch up with technology, your best bet to protect these possessions is through well-drafted provisions in an estate plan.

According to a recent survey conducted by McAfee, people place an average value on their digital assets of $35,000, around half of which is attributed to “sentimental” value, like your photos stored online. That amount likely does not include the value in your online brokerage accounts, if you have any. Whatever value you place on your digital assets, it is important to have a plan in place for them if you become incapacitated or pass away.

When drafting estate planning documents, such as a durable power of attorney, will, or trust, it is important to include provisions that authorize your designated representative to access these digital assets. Such provisions should also explicitly define the scope of the representative’s authority and clearly state your intentions for those digital assets once you pass away.

Because this area of the law is new and still evolving, there are limited cases interpreting such provisions. However, drafting clear provisions addressing your digital assets will provide you with additional peace of mind.

If you are in need of estate planning help, contact the experienced attorneys at Fausone Bohn, LLP in Northville, MI. You can reach us at 248-468-4536 or online at www.fb-firm.com. Our legal experts are knowledgeable about changing laws and stay up to date on this evolving area to ensure you receive the best protection for your assets.

The most recent legislation proposed on this issue was in Florida. You can read more about what lawmakers there are doing in an attempt to secure individuals digital assets after death: http://www.wtsp.com/story/news/politics/florida/2015/04/06/bill-lets-guardian-access-digital-assets-after-death/25361635/. 

Your Durable Power of Attorney May Not be Valid for Long

Wendy Alton

On May 23, 2012, the Governor of Michigan signed a new law pertaining to Durable Powers of Attorney.  The new law, Public Act 141 of 2012, lists new requirements for Durable Powers of Attorney, which become effective for all Durable Powers of Attorney signed after September 30, 2012.

A Durable Power of Attorney is a legal document that designates an agent who can act on your behalf for all of your financial transactions.  Most of the time Durable Powers of Attorney are effective only upon someone’s disability.

The new law requires that two witnesses sign the Durable Power of Attorney, or that it is notarized, or both.  Further, the Durable Power of Attorney is now not effective unless the designated agent signs an acceptance of designation that sets forth all of their duties.  This is the most significant change in the law.

While the law is only prospective and has no legal effect on Durable Powers of Attorney signed before October 1, 2012, it is highly probable that the banks will begin to refuse to honor any Durable Powers of Attorney that do not comply with the new requirements.  It is a good idea to have an attorney look at your Durable Power of Attorney or revise it to comply with the new law, thus eliminating any potential problem in the future.

You can read the new law here: 

http://www.legislature.mi.gov/documents/2011-2012/publicact/pdf/2012-PA-0141.pdf

If you are interested in learning more about powers of attorney, estate planning, probate, family law or divorce, or have a question about those issues, please call Wendy Alton at 248-380-9976 or email her at walton@fb-firm.com.