Estate Planning Attorney in Plymouth, MI
WHAT IS ESTATE PLANNING?
Believe or not, you have an estate. As a matter of fact, nearly everyone does. There is a common misconception, unless you are very wealthy, you do not need Estate Planning. Your estate encompasses everything you own—your home, car, checking and savings accounts, investments, life insurance, debts and personal items. Without an estate plan, our possessions are distributed according to the State law, which may or may not be what you would want.
Estate planning is essentially about three things: Deals with who is in CONTROL of your “stuff”, who gets to BENEFIT, and WHEN do they benefit from your “stuff”.
It’s a legal process of anticipating and making a plan, protecting during and after life to ensure that you are able to stay in control and your wishes are carried out. You will, of course, want this to happen with the least amount paid in taxes, legal fees and probate court costs.
Following is the list of items every Estate Plan should include:
Durable Power Of Attorney
Health Care Power Of Attorney
Other documents depending on the client