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Keating Law Blog

Tuesday, May 21, 2019

Your Michigan Estate Planning Questions Answered

If you have questions about the estate planning process, you aren't alone! Estate planning is a complicated process that requires the assistance of an experienced Michigan estate planning attorney. At Keating Law, PLC, our experienced Michigan estate planning attorneys are happy to answer any and all questions you may have about the process. Frequently asked estate planning questions include:

  • What do I need to put in my will?
  • Do I need to name a guardian for my children?
  • Do I need to establish a trust for my children?
  • Who should I choose as executor of my estate?
  • Do I need a power of attorney?

In order to help you get started with the estate planning process, please review the answers to these common questions below, and contact us as soon as possible for a free consultation. 

What do I need to put in my will? 

The will is probably the most well-known estate planning document. At a minimum, your will should include the property you want to distribute and the names of your beneficiaries. However, you should exclude some types of assets and property from your will, including certain kinds of life insurance policies and retirement accounts.

Do I need to name a guardian for my children? 

 A guardian is an individual who takes care of your children after your passing. If you have kids, you should consider designating a guardian during the estate planning process. The failure to name a guardian during this process will result in the court naming one for you. 

Do I need to establish a trust for my children? 

People beginning the estate planning process often want to care for their children financially after death. This can be accomplished with a trust. A trust is a great way to ensure that your children will be cared for after your passing.

Who should I choose as executor of my estate?

An estate's executor is a person who ensures that a will’s terms are duly executed. So, it’s very important that you choose a person you trust to perform this duty.  

Do I need a power of attorney?

Depending on your circumstances, you may want to draft a power of the attorney during the estate planning process. A power of attorney permits a designated person to make certain decisions on your behalf if you become incapable of making such decisions yourself.  

Michigan Estate Planning Attorneys

Estate planning can be difficult, and it’s easy to overlook important steps when trying to navigate the process alone. Whether you are drafting a will, choosing an executor, or are in the beginning stages of estate planning, we recommend that you consider contacting an experienced Michigan estate planning attorney to discuss your options. If you’d like to begin the estate planning process, please contact one of our experienced Michigan attorneys for a consultation.

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