You've worked hard your entire life. It makes sense that you'd want your family to get your belongings and assets after you pass. The Law Office of Richard W. Schaaf, PLC in Marysville, MI will make sure all your wishes are carried out. You'll meet with our estate planning attorney to create legally binding documents for the future.
Talk to our wills and trust attorney today to learn more about our estate planning services in Marysville, MI.
Estate planning involves a lot of paperwork. Thankfully, that doesn't mean you have to stress. Our estate planning attorney can:
- Draft wills and trusts - decide how your assets will be divided
- Probate your loved one's will - get their will authenticated and make sure all taxes are paid
- Appoint minor and adult guardians - choose someone to make important decisions on your behalf or to act as a guardian for minors currently in your care
Schedule a free consultation with our wills and trust attorney today to start the estate planning process in Marysville, MI. We can hold your consultation over the phone or in the office.
You live in an apartment filled with electronics and sporting equipment.
You have a home, cars and young children to support.
You have adult children from a first marriage and a second marriage.
These are just some of the scenarios that need estate planning. An estate is what you own at the
time of your death. Estate planning sets forth in legal documents the way you want that property
to be distributed after you die.
It doesn't matter whether you are still attending college or getting ready to retire. You may be
living paycheck-to-paycheck or independently wealthy. Living the single life or celebrating a
milestone wedding anniversary.
You need an estate plan if you:
➢ Own property
➢ Are married
➢ Are divorced
➢ Are widowed
➢ Have minor children
➢ Have no living decedents
➢ Have children from multiple marriages
To put it simply, every adult needs an estate plan.
Dying intestate means dying without a will. If you have not established where you want your assets to go, Michigan intestate law makes that decision for you.
Through the rules of succession established by intestate law, your property is divided based on whether you have living parents, decedents (children, grandchildren, and great-grandchildren), and a spouse. If you have no decedents or living parents, your spouse inherits 100% of your intestate property. If you have living parents or decedents, your assets will be divided between your spouse, parents, and decedents. If you have no spouse, children or parents, your property will be divided between your surviving brothers and sisters.
➢ Last Will and Testimate
➢ Living Trust (Revocable)
➢ Financial Power of Attorney
➢ Medical Power of Attorney
➢ Patient Advocate Designation
If you already have a will and trust, it may need to be updated. Wills do not expire, but they do become outdated as children are grown or assets change. If you get divorced and haven't changed your will and trust your ex-spouse could inherit more than your children. Maybe you are newly married, but your assets are designated to go to your parents. Changes in life require wills and trusts to be updated.
Executors and Trustee have must follow the terms of the will and trust. They have serious responsibilities and must comply with all legal requirements. If your loved one has passed and you are not comfortable with the probate requirements call an experienced estate attorney in Marysville, MI.
➢ Probate Proceedings
➢ Filing Application or Petition
➢ Probate Administration
➢ Trust Administration
➢ Letters of Authority
➢ Notice to Creditors
➢ Validate the will and determine heirs
➢ Negotiating disputes among heirs
➢ Closing the Estate
Disputes may arise over property rights, inheritance rights, real estate issues, and rights to a family business. An experienced estate attorney in Marysville, MI can help with probate conflicts.
Having a will does not guarantee your estate will not go to probate. If you own assets solely in your name at time of death, probate may be necessary to transfer those assets out of your name and distribute them to your heirs. This can be avoided with a trust and beneficiary designations to transfer assets upon death. A will is the foundation of your estate plan. It sets forth who will receive your real estate, personal property, family heirlooms, collectibles, and jewelry. If you have minor children the will designates who you wish to become their guardian should you die, and who manages the money they inherit until they become an adult.
Make Sure Your Medical Wishes Are FollowedIn the State of Michigan, no one is legally allowed to make medical decisions on your behalf
unless you have designated them to be your patient advocate. Designating a patient advocate and
completing medical directives lets family and medical professionals what your wishes are
regarding medical treatment. This includes the well-known "do not resuscitate" directive.
Adult Guardianship May Be NecessaryAs a person ages they may become unable to make sound financial decisions or provide for their own care. When a person is unable to make decisions on their own, a guardian may be appointed by the court. The Guardian will be responsible for making decisions on their ward's living arrangements, health care, and will manage their finances. Obtaining guardianship over another adult requires the establishment of need through medical records and preparation of legal paperwork. If you need guardianship over an adult, an experienced probate attorney can help you through the legal process needed to protect your loved one
The Law Offices of Richard W. Schaaf can handle all your estate planning and administration needs. We always provide free consultation on estate and probate matters. The attorney you meet is who will handle your case. Richard W. Schaaf will discuss your estate needs and answer any questions you have. He will prepare all paperwork necessary for the establishment of your estate. If you need probate assistance, he will file all the necessary paperwork and represent you in court. Contact us today (810) 434-4394 to schedule a free telephone or in-person consultation.