Think of your loved ones and plan your estate now
It’s not something that people often like to think about, but eventually our time will come. Planning for your eventual death is a huge gift to those you love. To think about your loved ones and minimize the challenges for them at that time is truly a gift. Now is the time to get your estate in order and ensure that your assets go to your heirs and not the court system or taxes.
Why Estate Planning
The main benefit of estate planning is that it allows your spouses, children, or other heirs more resources by keeping your estate out of probate court and minimizing the cost of estate taxes. A qualified attorney can set up your estate, draft a will, or create a trust. Estates are governed on a state level, but federal laws can also apply, especially regarding taxes, so choose an attorney that is well versed in current state and federal laws concerning estate planning. An attorney will have the knowhow to make, carry out, and plan the passing of your estate to your heirs.
Meet with an experienced attorney and discuss your specific family situation and desires. Discuss all available options and preparations that you should consider. Having a durable power of attorney or a patient advocate designation in place can also make a stressful time easier for your loved ones. Updating or creating a will is another important piece of a proper estate plan. Your attorney may also recommend that a trust be established to avoid probate, minimize taxes and allow for special needs of your family.
Manage your estate
Estate planning can also be beneficial in managing your estate before you pass away. Medical issues can often leave a spouse or family unable to handle finances or tasks they used to easily manage. An attorney can help you manage your estate throughout your life to ensure that it passes into the appropriate hands in the best condition.
Life is ever-changing and, as your family or financial situation change, there will likely be modifications that you will want to make to your trust, your will or how your estate is set up. Your attorney is always ready to discuss and answer any questions that may arise. Likewise, as the complex estate laws change your attorney will come to you with suggested changes to take advantage of available laws and to ensure your wishes remain intact
Michigan Law Solutions
Our experienced attorneys are committed to providing our clients with the guidance and support that they need to resolve their legal issues. With over five decades of experience serving clients in Southeastern Michigan, the attorneys of Michigan Law Solutions have the experience and resources to resolve your legal issues. With a broad range of expertise including, but not limited to: family law, probate, bankruptcy, and estate planning.
We are a debt relief agency and can help our clients file for bankruptcy relief under the bankruptcy code. Let us help you relieve your financial burden and set your life back on a successful financial path. Stability and peace of mind can be achieved, contact us for your free bankruptcy consultation.
Michigan Legal Solutions
28345 Beck Road, Suite 401
Wixom, MI 48393
Phone: (248) 869-0030
Fax: (248) 869-0039