For those who need to plan their estate in Clawson, Michigan, taking the first steps can seem overwhelming. Estate planning is more than just creating a Will: If you own a business, have a complicated family situation, or have many assets, you will need to take time to plan and complete complex legal documents.
Additionally, having a plan in place in case you become incapacitated is also essential. If you want your wishes to be followed, you can designate a medical power of attorney. This person does not have to be your financial power of attorney although in many cases, one person holds both.
To make sure you and your family are not caught unprepared if something happens to you, find an experienced estate planning attorney at Michigan Premier Law, P.C.
When you’ve suffered a severe accident, you want your doctors and other caregivers to know precisely your wishes concerning your treatment, even if you’re unable to communicate with them. Your estate planning documents will clearly state your personal representative who will speak on your behalf.
It’s not only about final care treatment or what happens to your estate after you’ve passed on. An estate planning lawyer can also make a living trust, thoroughly educate you on estate taxes, and can help your heirs avoid losing any of your estate to creditors.
A living Trust is a document that designates who you would like to be in charge of your finances in the event of your untimely death or incapacitation. A living Trust also can distribute your assets and property without going through probate.
Powers of attorney are slightly different than a living Trust, and it’s important to know the distinctions. When you assign financial power of attorney, you designate an individual who will manage your financial assets and properties. This can be a family member, a trusted friend, or your attorney.
Medical power of attorney is distinct in that the individual you designate will have the ability to make medical decisions for you if you cannot, but not financial ones. A medical power of attorney is someone whom you can trust will follow your wishes in the event you are unable to communicate.
Contact us at (248) 688-0045 for a free consultation and peace of mind for you and your family.