A new study found that the most commonly-Googled term in 2018 for Michigan residents was “income tax.” But while the Internet can help provide you with some information about taxes and financial planning, it is always smart to follow up on your research by meeting, in person, with professional advisers.
This is especially true if you are concerned about state and federal taxes in Michigan. The tax landscape can shift at any time, which is part of the reason so many Michigan residents turn to the Internet to get answers to some common questions. The truth is that as an individual, it may be difficult to stay on top of relevant tax, estate, and elder law planning developments. For example, you might not know how your current estate plan fits into the bigger picture of state and federal laws.
The good news is you don’t need to learn all of that information on your own. When you have a relationship with a trusted estate planning lawyer in Michigan, you can set up an annual meeting to review your documents and determine whether your materials need to be updated. Your Michigan estate planning lawyer should be familiar with the relevant tax laws as well as personalized strategies for your individual planning.
One of the top five most common financial questions asked of Google nationwide is “What is an estate plan?”. Because you can discuss many of your concerns about estate planning directly with a lawyer, establishing a relationship with a professional working in the field will help you verify whether what you find online is accurate. If you want to know more about how taxes impact your estate in Michigan and how to incorporate tax planning into your general estate plan, schedule a meeting with a Michigan lawyer today.