Estate Planning

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One definition of estate planning: “I want to control my property while I am alive, take care of me and my loved ones if I become disabled, and give what I have to whom I want, the way I want and when I want. Furthermore, if I can, I want to save every last tax dollar, professional fee and court cost legally possible.”

We listen closely to understand the individual needs of our clients so that they can create a customized estate plan to meet the objectives of each individual client.

With our guidance, clients gain peace of mind that their long term needs will be met, that their assets will be protected for the benefit of the person or persons they choose and most importantly, their family will be protected in the event of the unexpected.

If you think you are too young, too old, or don’t have enough assets to put together an estate plan, think again. These are common myths surrounding the topic of estate planning. Click here to see other Common Estate Planning Myths.

It is never too early or too late to prepare a proper estate plan. If you have not done any estate planning, now is the time to start. Estate planning can help people accomplish their estate planning objectives. See our Estate Planning Objectives Organizer to find out what your most important estate planning objectives are.

If you are not sure that you need estate planning, check out our Estate Planning Diagnosis Sheet to see if you are in need of an estate plan. Even if you have done some estate planning, it is a good idea to check with an attorney to make sure your estate plan is up to date to get optimum results in light of possible changes in laws or tax regulations. Also, if you have an existing estate plan, see the Top Ten Mistakes People Make in Estate Planning to make sure that you are avoiding any unnecessary pitfalls of planning incorrectly.

At the O’Bryan Law Firm, we provide clients all over Michigan with customized estate planning services tailored to meet each individual’s needs.

Our estate planning services include:
• Trusts
• Special Needs and Disability Trusts
• Will Preparation
• Business Succession Planning
• Advice on Asset Protection
• Counsel on Wealth Preservation
• Guardianships and Conservatorships
• Durable Powers of Attorney
• Living Wills
• Health Care Proxies and Directives
• Family Limited Partnerships and Limited Liability Companies
• A complimentary checkup on your existing estate plan

There are many businesses claiming to be estate planning professionals who are selling trusts, wills, living trusts and other estate planning documents without the involvement or oversight of a qualified attorney.

Oftentimes, these documents and the advice that comes with them can lead to problems, mostly in the form of expensive litigation. Why wonder about such things when you can receive solid legal advice on how to properly plan your estate so that your long-term planning needs are met, and you are able to make solid and well researched choices that will help your family as well.

A properly done estate plan can provide you with the following benefits:

• Provide for the financial support and care of your immediate family. If you have children who are under the age of 18, you should have a will nominating who will care for these children upon your death. Otherwise, a court will decide who raises your children. Also, if you have minor children, a trust should be established to manage their inherited financial resources.

• Provide for other relatives who may need assistance. If you do not provide in writing any gifts that you would like to give to more distant relatives outside of your immediate family, it is likely that they will not receive anything. Also, if you have a relative or family member who is disabled or receiving public benefits, there are certain steps that you need to take to prevent them from losing their benefits as a result of your generosity.

• Get your property to your beneficiaries quickly. Currently, although the probate process has been simplified in the state of Michigan, it still takes approximately 6 months to a year, on average, to get assets in probate to the deceased person’s intended beneficiaries. For persons dying without a will, the process generally takes longer and is more expensive. With a properly drafted Trust, the process of transferring wealth upon death is seamless and in most cases, instantaneous.

• Minimize expenses and costs upon death. It is in everyone’s best interest to keep costs in transferring assets upon death to a minimum. Having a good estate plan can reduce these costs significantly and minimize the chance of having your estate contested in court.

• Ease the strain on your family. By setting forth your wishes for your family members, they are relieved from the strain of having to make difficult decisions on your behalf by themselves.

• The opportunity to help a favorite charity. Your estate plan can be set up to support your favorite charitable cause upon your death or during your lifetime. You will even get tax benefits for this.

• Ensure the continued existence of a family business. If you have a business, you can provide for the orderly succession of that business and the seamless continuation of its affairs on your terms by implementing a proper estate plan.

• Peace of Mind. No one can predict the future. Having a good estate plan can ensure that no matter what happens tomorrow, your loved ones and all of your affairs can be easily taken care of in the event of the unimaginable.

If today was your last, think about whether you want to be remembered for the estate administration mess you left behind or for the organized plan that you made to make the transition easier for your loved ones. Assuming that you want to make things easier on your family members in the event of your death, it is essential that you do not wait any longer and plan now. After all, no one knows what will happen tomorrow.

If you are looking for sound advice on wills, trusts and other aspects of estate planning, please contact us. We offer complimentary initial consultations, and a published, no-surprises, competitive schedule of fees.

Call us now to schedule your completely risk free complimentary consultation and make sure that your loved ones will be taken care of.