Estate planning is for everyone —whether you’re single, widowed, divorced, married or unmarried. Everybody has the same three objectives or reasons for doing estate planning – distribution, management, and preservation.
Asset Distribution in Metro Detroit
You want to pass down your hard-earned assets to the right people and with an estate plan you get to determine who those loved ones are. These vital personal choices shouldn’t be left in the hands of a court system or another third party. An estate plan assures your assets will go to the people you select and when, based upon their age, maturity, abilities, needs and circumstances. An estate plan also protects your assets from getting into the hands of the wrong person, like in-law spouses or other greedy relatives that may fight over or contest your estate. Proper estate planning leads to accurate distribution of your assets on your behalf.
As you enter your golden years, your financial, personal and medical affairs need to be managed by a person or persons of your choosing, especially when you become too ill or disabled to act for yourself. Appointing financial management for your loved ones can help people in your care who may require assistance if you’re no longer available. Devising management objectives can be accomplished through proper estate planning.
There are many aspects to consider for the preservation of your lifetime’s hard-earned assets for your loved ones in Southeast Michigan. We can help you maximize your asset value and minimize court or attorneys’ fees. We also help your loved ones avoid the headache and aggravation of expenses, delays, publicity, probate, and court conservatorship after you pass. Finally, we help you to minimize Capital Gains Taxes while you’re living and lower estate taxes after you’re gone. Preserving your assets may include protection against divorce, lawsuits, creditors and bankruptcy during your lifetime, as well as for your loved ones after they inherit your assets.
Additionally, you may want to prepare for new expenses that occur during your golden years. This planning may include preserving your access to government benefits, such as Medicaid nursing care benefits, so your estate will not be drained by future medical care costs. Our Metro Detroit legal team will help you meet your individual asset preservation objectives and goals through proper estate planning.
Peace of Mind for Southeast Michigan
An overlooked but very important fourth objective for proper estate planning is the peace of mind estate planning can bring. It can be comforting to know that you and your loved ones will be properly protected during health related or financial events in your life.
Wall Law is your Metro Detroit lawyer for life and can help you understand your planning options to preserve your wealth and family values for future generations. Have peace of mind, contact us today, and learn more about how we can help meet your estate planning needs in Oakland County, Wayne County, Macomb County, and surrounding Metro Detroit areas.