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For Michigan families in Huntington Woods, Michigan Premier Law, P.C. provides experienced estate planning attorneys to give you peace of mind over your affairs.
Wills, Trusts, and other legal tools need to be carefully thought out, and may even need to change as a family’s assets or even family grow. Additionally, Michigan law is complex, and heirs may end up paying high estate taxes if a Will or Trust is not properly structured.
Estate planning lawyers specialize in the laws that help protect your next of kin. Financial, medical, and business decisions require careful consideration and should always be done in consultation with an attorney.
Most families use either a Will or a Trust to handle their basic affairs. Younger families with fewer assets usually choose a Will, but a Trust is a more appropriate option for families with significant assets or who are in ill health.
In some cases, business assets must also be carefully planned for. In Michigan, joint ownership laws are complex, and business assets can end up in probate court even if one of the owners is still alive. Family-owned businesses must consult with an attorney to determine the best option for them.
Financial power of attorney gives a designee the ability to make additional financial decisions in case you are unable to make them yourself. This additional step is especially important in cases where you are incapacitated and cannot care for property or other assets.
If you are incapacitated and unable to make medical decisions for yourself, a family member should be appointed to make them for you. Deciding this in advance can help your family deal with medical proceedings much more easily. Medical power of attorney can be granted to the same person who received financial power of attorney, or to someone else.
Federal privacy laws can make it difficult for family members to stay informed of your health. Hospitals must receive special authorization to disclose your condition to family members. This authorization can be designated during the estate planning process, and can be updated or revoked as needed with an attorney’s help.
End-of-life planning is never easy, and it should never be done without help from an attorney. Michigan Premier Law, P.C. has a team of experienced estate planning lawyers who can walk you through the options available to you and act as your personal representative if necessary. We take pride in our work and prepare your estate planning documents and will handle your affairs with the care they deserve. Contact us today at (248) 688-0045 for a free consultation.