Affordable Michigan Estate Planning
How Estate Planning Lawyers Help
When people think of estate planning, they often think of wills, but a will is only one part of a comprehensive estate plan. A will alone does not protect your assets from things like lawsuits while you are alive, and it cannot help your family avoid the cost and time of probating your estate through a Michigan probate court when you die. Typically, a will does not help your business or family carry on or assist you in the event of your sudden incapacitation, leaving the Michigan probate court to decide who will manage your affairs and how things will be handled while you are unable to make decisions.
The Michigan estate planning attorneys at Entrusted Estate will evaluate the needs of you, your family and your business based on more than 50 factors during a free consultation. Then, we’ll carefully craft an affordable estate plan that will help you protect your assets and wealth today and after you have passed away. An estate plan may be the fastest, easiest and most affordable way to protect yourself, family and business from life’s unexpected adversities.
Michigan Estate Planning Basics
Every estate plan is unique and what you need to fully protect yourself is unique as well. So, you need an estate plan that is customized and specifically suited to your situation. We provide an affordable estate planning solution, prepared by a Michigan estate planning lawyer that is far superior to any do-it-yourself kit or online service.
A properly drafted estate plan will generally:
- Help protect your wealth and assets from legal action
- Help your business and family manage things if you become incapacitated
- Save your family from the stress of funeral arrangements
- Make your final wishes known to your family and courts
- Help your family avoid probate court after your death
- Preserve your wealth and assets for your family
Only a licensed Michigan estate planning lawyer can advise you on your specific estate planning needs. A great way to start is with our free estate evaluation and free initial consultation. Contact us today!
What is needed in a Michigan estate plan?
The exact components needed in your estate plan may be different from those of your friends or family members, but typically, every estate plan will include a will, trust, and other related documents. We provide a basic description of each document and its role in a comprehensive Michigan estate plan below. But, if you need more information, you should take a peek at our blog, or better yet, just give us a call. We’ll take the time to answer your questions.
A will
A will can state your final wishes and tell your survivors what you would like to do with your assets upon your death. It can also name guardians for your minor children if both parents were to die.
A trust
A properly formed trust may allow your family to bypass probate and it may offer protection from legal action while you are alive.
Health care directives.
Health care directives tell your family how you would like things handled if you are unable to make decisions for yourself. They authorize someone you appoint to make health and treatment decisions for you when you are incapable of making them for yourself.
Power of attorney.
Like health care directives, a financial power of attorney allows you to designate someone to make decisions and act on your behalf in financial matters if you are incapable of doing so yourself.
Business succession plan.
If you’re the sole owner of a business, you should have a succession plan. If you own a business with others, you should have a buyout agreement.
Troy, Michigan Estate Planning Attorneys
Entrusted Estate is a law firm dedicated to providing affordable estate planning to the people of Troy, Michigan and our friends and neighbors throughout the State of Michigan. Our goal is to make quality estate planning affordable for everyone because we believe everyone needs an estate plan. Call us today for a free estate evaluation.