Trusts, Wills, Powers of Attorney and Estate Planning

Although you aren’t required by law to hire an attorney to assist you with the estate planning process, you should strongly consider doing so. The reason for this is simple: attempting to navigate the estate planning process by yourself can do more harm than good. In fact, a single misstep during the process can have major negative consequences for you and your loved ones.
Read more . . .

Most people are familiar with at least some of the benefits of estate planning. For example, with an estate plan, you can determine who will inherit your assets after you pass away and help your loved ones avoid the probate process. Lesser known, however, is the ability of an estate plan to address incapacity.
Read more . . .

One of the biggest misconceptions about estate planning is that it is only for the rich. Nothing could be further from the truth. Estate planning offers multiple advantages, even to people who have few assets. In other words, estate planning is for everyone. In this article, we examine four reasons that estate planning isn’t just for the rich.
Read more . . .

Estate planning is an effective way to pass along one’s assets with minimal court involvement. One particularly effective estate planning tool is the living trust. Whether you should include a living trust in your estate plan depends on your unique circumstances and needs. However, regardless of whether you ultimately decide to include one in your estate plan, understanding the pros and cons of a living trust can help you make an informed decision. In this article, we examine the pros and cons of living trusts.
Read more . . .

Many people believe that estate planning is only for the rich. This couldn’t be further from the truth. Without an estate plan in place, settling your affairs after you are gone could have a costly impact on your loved ones—regardless of your income or assets. In this article, we discuss four reasons that you need an estate plan.

Estate Planning Protects Beneficiaries

An estate plan can protect beneficiaries in a number of ways, including making arrangements for what will happen if something happens to you.
Read more . . .

Everyone needs an estate plan. However, not just any estate plan will do. In fact, it may be better to have no estate plan at all than an estate plan that is riddled with mistakes. Therefore, before beginning the estate planning process, you should contact an experienced estate planning attorney for assistance.

A lot of people mistakenly believe that estate planning is only for the wealthy. This couldn’t be further from the truth. If you have any assets at all, you need an estate plan. In addition, with a Michigan estate planning attorney on your side, the estate planning process doesn’t need to be complicated or stressful. In this article, we examine six of the most common estate planning documents.
Read more . . .

Everyone needs an estate plan, especially people without children. However, due to their unique needs, people who don’t have kids must approach the estate planning process differently than those who do. In this article, we provide some estate planning tips for people without children.

Draft a Will

If you don’t have children, you definitely need a will. The reason for this is that, without children, you don’t have natural heirs to inherit your wealth.
Read more . . .

If you are a senior citizen, you should seriously consider creating an estate plan. Not only is an estate plan useful for leaving your assets to your loved ones, but it allows you to identify who will make financial and medical decisions on your behalf should you ever become incapacitated. In this article, we discuss the most common estate planning documents for seniors.

Will

The last will and testament is probably the most well-known type of estate planning document. A will dictates who will get your property after you pass away.
Read more . . .

Nearly half of all families in the United States are blended, which means that one or both parents in a relationship have children from a previous relationship. If you are a partner or spouse in a blended family, it’s imperative that you approach the estate planning process correctly. Below are a few estate planning tips for blended families.

A standard will isn’t enough

A standard last will and testament generally won’t cut it for a blended family. If you are a partner in a blended family, and you leave everything to your spouse, you create the possibility that he or she will cut out your children when you’re gone.
Read more . . .

If you have a loved one with special needs, you’re probably concerned about what will happen to him or her after you’re gone. After all, people with special needs often require extensive assistance in their day-to-day lives. In addition, many special needs people are unable to support themselves financially. Luckily, you can take care of all of this and more with a Michigan estate plan. By establishing an estate plan, you can ensure that your loved one will receive the support he or she needs for years to come.