When many people hear the term estate planning, they think it refers only to the distribution of assets after death. That is part of it, of course, but truly effective estate planning addresses important issues during one’s lifetime and in end-of-life situations.
For example, a well-designed estate plan will ensure that a person of your choosing can make medical and financial decisions on your behalf if you become incapacitated. Without a plan, someone may petition the court to gain control over your medical care and assets. This could very well be a person you would not want to make important decisions on your behalf. The court processes involved, known as guardianship and conservatorship, are time-consuming, frustrating, and expensive.
This is but one example of what a properly crafted estate plan can help you accomplish. Depending on your particular needs and goals, we can design a plan that can help you achieve a great deal more, including:
- Ensure your minor children are raised according to your wishes if something happens to you and your spouse
- Give you complete control over your assets while you are alive and well and if you become incapacitated
- Bequeath what you want to whom you want in the manner you want
- Protect your hard-earned assets against lawsuits, creditors, and other threats
- Pass your values, work ethic, and sense of responsibility on to heirs
- Reduce income, estate, gift, and other taxes
- Keep your financial affairs and family information private
- Protect the inheritances of your heirs
- Leave an enduring legacy
We take a highly personal approach to helping our clients achieve goals like these and many more. We will devote all the time necessary to gain a thorough understanding of your particular needs and goals. We will explain your options in plain English, not convoluted “Legalese.” Then, we will draft a customized estate plan to achieve each one of your goals.
We can also collaborate with your accountant, financial planner, insurance representative and other advisors to ensure all of your needs are addressed. Once your plan is completed and implemented, you will enjoy the peace of mind that comes with knowing your family and assets are protected.
Contact us today to schedule a personal meeting with one of our Bloomfield Hills, Macomb, or Rochester estate planning attorneys.