attorneys and counselors at law
MICHIGAN ESTATE PLANNING ATTORNEYS REPRESENTING CLIENTS IN OAKLAND, MACOMB AND WAYNE COUNTY
“Nearly 60 percent of Americans don’t have a will, according to a new survey by FindLaw.com, the web’s most popular legal information website. Fifty-eight percent of American adults have not written a will, giving them little control or input into issues such as what will happen to their assets and any minor children after they die.” Findlaw.com, June 30, 2008
Estate planning is very important not only for the future of your loved ones, but also for your own future. BROWN AND BROWN, PLC has more than 20 years experience in estate planning. Our firm represents clients in all aspects of estate planning. Our standard estate package includes the following:
Patient Advocate (power of attorney for health care)
General Durable Power of Attorney (effective upon disability)
In addition to the Estate Planning packages we offer, our firm also offers our Michigan Clients legal representation with all areas of probate which include:
Special needs planning (including special needs trusts)
Probate Collections (See also our collection page)
Elder Law – trust and estate work
BROWN AND BROWN, PLC takes great pride in making sure your estate package is designed to fit your unique set of circumstances. Our firm has over 20 years experience in litigating probate matters in Oakland, Macomb and Wayne County. Through our vast knowledge and experience in working with Estate planning and other probate matters, our firm will do everything necessary to carry out your wishes in regards to your estate plan.
Many people ask our firm why do we need to have an estate plan?
Many times, by having the proper estate plan in place it can protect your heirs from potential litigation, tax consequences and unnecessary expenses including legal fees. In addition, sometimes families have health scares. If this means that you or a loved one are in the hospital, then someone will need to act on your behalf. This person will need authority to conduct your affairs including banking, medical decisions, paying bills and representing your interests. Often, failure to have an estate plan can result in the need to file a petition in the probate court to have a guardian or conservator appointed to manage your affairs if you become disabled. This often costs much more than the estate plan and subjects your personal situation to a public courtroom. By not having a person designated to handle your personal affairs should you become disabled or die, it can create uncertainty and conflict within a person’s family. When a person has a properly prepared estate plan, it usually saves money, time and emotional upset.
I’m a single person with adult children, shouldn’t I just put my children’s names on the deed to my house to avoid probate?
In some cases, placing a child’s name on the deed with survivorship language avoids probate and saves money. However, once you place a child’s name on the deed, you cannot remove their name without their consent. In addition, you may subject your property to the creditors of your child. In many cases, it is preferable to create a revocable trust and transfer your home into the revocable trust. By doing so, the property can be used for your benefit should you become disabled. In addition, upon death, the property can be transferred to your children and avoid probate. Finally, if the property is in a revocable trust, you can transfer it back out of the trust should you need to sell the property or refinance it. If you act as trustee of your trust during your lifetime and while not disabled, you can transfer the property without the need to obtain anyone’s signature but your own.
- See more at: http://www.brownandbrownplcattorneys.com/practice-areas/estate-planning/#sthash.ZBAhQc7R.dpuf
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