Considering A Will Or Trust?
Every adult should have a proper will in place. This is one of the most basic estate planning tools. However, there are many individuals in Michigan who have not yet gotten a will or haven’t considered getting one yet. Why is that the case? Perhaps the idea of making decisions for after one’s passing is not a pleasant thing to do. However, estate planning tools are not just for after death. They can also impact the present as well as the future for loved ones.
Over Two Decades Of Experience
If you are interested in getting a will or trust, or revise an existing will or trust, then it is time to reach out to an experienced estate planning attorney. Our attorneys have been helping individuals and families throughout the southwest Michigan area for over 27 years.
Our law firm can help you no matter what point in the estate planning process you are in. We can help individuals who have never thought about getting a will to those who already have many estate planning tools in place but need revisions or further counsel.
Drafting And Revising Wills
An effective will can take care of many estate planning issues. Do you want your assets to go to certain family members? How much? What happens to any minors or children after you pass? Who can take care of them? These are all very important questions a will can answer in the event of your passing.
Dying without a will means your estate is “intestate.” This means your assets will be distributed by the state under intestate laws. This can be avoided by having a proper will drafted. We can help you draft a will that best suits your specific situation. We can also help you if you need an existing will amended or updated.
Setting Up Trusts
A trust is different than a will in that you designate a “trustee” to handle the assets of a trust in the event you are incapacitated. You can make certain stipulations with a trust. One of the major benefits of a trust is that it can help your estate avoid probate, which is often a complicated, expensive and lengthy administration process.
There are many different types of trusts. From irrevocable to revocable trusts, as well as shelter trusts and charitable trusts. If you are interested in adding this to your estate plan, we can discuss what type of trust works best for you.