What Prospective Clients are Telling Us

Many prospective clients wonder whether they really need an estate plan. So, the common misperception is that “estate planning is for rich people” or “I’m too young for an Estate Plan.”   Understandably, most don’t think of themselves as wealthy and death is a topic people don’t want to address.

However, an Estate Plan is one of the most important and thoughtful decisions you can make. The purpose of an Estate Plan is not just to tell the government how to distribute property after your death. An Estate Plan is a way to maintain control over your affairs while alive and after you pass away. So, an Estate Plan allows you to protect your assets and help you and your family maintain your current lifestyle.

Revocable/Irrevocable Trust and Estate Planning 

Life changes and so should your Estate Planning documents. If you have recently married, divorced, or experienced the death of a loved one, it’s probably time to start or review your Estate Plan.

Powers of Attorney 

Gives another person broad legal ability or limited ability to make legal decisions about someone’s property, finances or medical care. Powers of Attorney are essential to any comprehensive Estate Planning Services. Call Today

HIPPA Agreements 

Gives loved ones the ability to review your medical records upon your death or disability. But, not the ability to make medical decisions.

Wills 

A legal declaration of a person’s wishes regarding the disposal of his or her property or estate after, but not before death. Wills do not bypass probate so, the process is public.

Funeral Representative Designations 

Michigan law allows an individual 18 years and older, with capacity, to designate a person to make decisions about funeral arrangements. 

Buy and Sell Agreements 

Small business owners face many challenges with the death of a partner. But, Buy and Sell agreements may be the answer. So, an Estate Planning Services review can show you your options.

Insurance Review

Most people have too much life insurance or not enough.  So, review your current and future life insurance needs.

Beneficiary reviews 

Accounts that carry a beneficiary designation offer one of the simplest and most direct ways to efficiently get assets into the hands of loved ones after your death—but only if you have completed the paperwork properly and the information is up-to-date. 

To ensure that your beneficiary designations meet your specific needs and address any requirements of your state law, you should obtain guidance from your estate planning professional when deciding upon the appropriate designations. 

Your accounts that have beneficiaries are probably more numerous than you realize. They include IRAs, company-sponsored retirement plans, life insurance policies, Coverdell Education Savings Accounts and annuities, as well as “in trust for” and “pay on death” accounts. In many cases, these accounts will make up much—if not most—of your estate. 

Designating a beneficiary typically avoids the need for the assets to pass through the probate process. It is essential for you to review and update the beneficiary designations on all of your accounts on a regular basis and whenever you have a major change in your personal circumstances such as a divorce, marriage, adoption, the death of a spouse or birth of a child. If you were married when you opened these accounts, you probably named your spouse as your beneficiary. If you were unmarried at the time, you might have named a parent or sibling. Since then, years may have passed without further thought about whether your initial beneficiary designations are still appropriate. 

Unless you change the beneficiaries named on your accounts, your assets could pass to beneficiaries who are no longer appropriate—an ex-spouse, for instance.