When it comes to your Estate and passing on assets to your loved ones, having no plan is not a good plan at all. It is important to know that you have the ability to designate how to pass your assets on to one of four different places: charity, family, friends, or the government. This reminder often prompts people to schedule a consultation with their Michigan estate planning attorney.
Everyone wants to ensure that the assets they’ve worked so hard to accumulate and protect over their lifetime are being allocated in the manner that they intend. And when your plan is properly optimized with the support of a Michigan estate planning attorney, your beneficiaries will have a blueprint that allows them to leverage the gifts that you’ve left behind in the most effective way.
But estate planning is not a set it and forget it task, and your blueprint might need updating as various changes occur within your life, such as the birth of your grandchildren or the passing of a person who was previously appointed to step in as a power of attorney. Regular check ins with your estate planning attorney are recommended for maintaining an optimal plan. Even if nothing changes in your life, it’s still a good idea to continue regular check-ins. Why? Because even if nothing changes for you, state and federal laws can change throughout the years. You should reference your beneficiary designation forms and review your existing blueprint for your estate sooner rather than later.
Having a relationship with a trusted Michigan estate planning lawyer is the first step towards protecting your interests and ensuring that you’ve understood all of the relevant issues that intersect in your estate plan. We are here to walk you through your plan – call us today to learn more.