Everyone knows they need a Will. Estate Planning is not just for the rich, it is essential for people of every income level. My practice is limited to Michigan.
In 2000, the Michigan law related to Wills, Estate Planning and Probate completely changed. Standard language that had been used for many years by lawyers to draft Wills and other estate plans may have a different interpretation than what was intended at the time it was drafted.
If you don’t have a Will, or a written plan for your estate, you need to do it now. I will draft new documents or review and explain the documents that you already have.
Effective April 1, 2010, the Michigan Trust Code went into effect. The Michigan Trust Code affects all Trusts, including those created prior to 2010.
Trusts are a great way to preserve your estate for future generations and to make sure that there are funds available for your specific goals.
Charitable giving in estate planning is a great way to benefit causes or organizations that you feel strongly about.
Please refer to the Trusts & Estate Planning for Pets section on this site to provide for your animals.
Durable Powers of Attorney allow you to give permission to another person (agent) to make decisions for you. The financial power of attorney allows for your agent to sign legal documents, do your business and banking for you or most any other legal action on your behalf (but not medical decisions) either immediately or upon your disability. A healthcare power of attorney allows your agent to make medical decisions for you only when you are unable to make medical decisions for yourself. Durable powers of attorney allow for you to decide who will make decisions for you if you become incapacitated. If you do not designate these agents and you become incapacitated the Probate Court will decide who makes decisions for you. This is public and expensive and requires your financial information to be filed with the court and have it updated every year. See Guardian/Conservator section.