Grand Blanc Estate Planning Lawyer
Also Serving Flint, Rochester Hills, Brighton and Beyond
Many mistakenly believe that estate planning is only for wealthy families. In reality, every family can benefit from having an estate plan. Our estate planning lawyers at Mannor Law Group, PLLC can assist you in preparing for your future. With our estate planning lawyer in Grand Blanc on your side, we can help you with all of your estate planning legal needs.
Accomplishing your goals require more than simply filling out various legal forms. Comprehensive, effective estate plans require close collaboration between you, our attorneys and other members of our team. We will take the time to get to know you personally so that we can gain a thorough understanding of your needs and goals. Only then will we create and implement a customized plan to address every single one of them.
Our team of Grand Blanc estate planning lawyers can also work with you to maintain your plan for years to come so that it takes into account your changing needs and goals.
Why You Need an Estate Plan in Michigan
When someone passes away without any sort of estate plan, their wishes are not taken into account. Instead, the state makes decisions for you regarding who should assist you with finances, medical decisions and who will receive your assets when you die. In addition to our estate planning lawyers, we also practice professional elder law.
Creating an estate plan can help you achieve your goals like:
- Maintain privacy - Many estate planning tools keep your affairs out of the public eye.
- Stay in control - With an estate plan, you get to choose what happens to your property and select those you trust to make decisions about your health and finances should you become incapacitated. Without an estate plan, you lose your say in these critical matters.
- Protect your loved ones - The last thing you want to do is leave your family with a convoluted financial mess. Through estate planning, you can ensure that your loved ones receive the assets that you intended for them as efficiently as possible without confusion and delay.
- Protect your nest egg - Many will require long-term care in a nursing home or similar facility later in life. Careful estate planning can help protect yourself from nursing home poverty.
- Obtain peace of mind - You deserve to know that you and your loved ones have a proper plan in place for life’s unknowns. By creating an estate plan, you can rest with confidence.
Our Estate Planning Services in Grand Blanc, Michigan
The tools that you will need to build an effective estate plan will depend on your unique goals. We can evaluate your concerns and wishes and help you understand your options.
Our estate attorneys can assist you with the following tools, documents, and services:
- Trusts - Trusts are often thought to be only for the wealthy. In reality, Trusts can achieve estate planning goals for nearly everyone. Trusts are immensely flexible and allow you to define what assets can be used for and specify circumstances under which property will be dispersed. There are many kinds of trusts and they can provide a mechanism for your lifetime management of your assets and a plan to protect your nest egg and legacy for your loved ones.
- Wills - The last will and testament allows you to designate recipients of your property, a guardian for your minor children, and an executor to manage your estate. Assets named in a will are still subject to the costly probate process, which is why many choose to place a majority of their property in living trusts.
- Healthcare Powers of Attorney with Advanced Healthcare Directives - You can appoint a healthcare power of attorney (also referred to as a patient advocate) that will serve as your advocate for healthcare decisions should you become incapacitated. They can use your advanced healthcare directives to ensure that your medical team is honoring your wishes.
- Financial Powers of Attorney - This type of legal document ensures that your assets can be managed on your behalf if you are unable to act for yourself. You define the scope of a financial power of attorney’s abilities, meaning that you can allow them to control the entirety of your assets or place limits on this authority.
- Guardianships and Conservatorships - Sometimes a person is not unable to pursue proactive estate planning and they may require a court-appointed Guardian and Conservator to manage their assets and make decisions about healthcare, where to live, etc. We can help you navigate the often-protracted process of approving guardians and conservators with a probate court.
- Medicaid Planning - Medicaid benefits help many Americans access the critical long-term care opportunities that they need without placing a financial burden on their families. Qualifying for Medicaid can be extremely difficult, but our team can help you navigate the often-confusing eligibility requirements in both advanced planning and crisis scenarios.
Our Grand Blanc estate planning lawyers at Mannor Law Group, PLLC are ready to help you protect your legacy. Call (810) 645-8426 or contact us online! Serving Grand Blanc, Flint, Rochester Hills, Brighton and all of Mid-Michigan.
What Is A Living Trust?
In Michigan, a living trust or revocable trust or revocable living trust is a common way to pass assets on to your loved ones when you are gone. It outlines who you want to receive your property and who should manage it after you have passed on.
How Does a Living Trust Work?
A living trust allows the grantor or settlor to transfer their assets into a trust during their lifetime. The trust is managed by a trustee (can also be the grantor or another individual) and the assets in the trust are distributed based on the grantor’s wishes.
Living trusts are popular because one of their benefits is that it helps loved ones avoid probate, which is the court-supervised process of administering or distributing a deceased person’s estate. With a living trust, assets that are held in the living trust at the time of the grantor’s death pass directly to any beneficiaries named in the trust without going through the probate process.
Another reason why people choose to create living trusts is that they allow for flexibility and control over how assets are distributed after the grantor’s death. For example, a grantor may specify that certain assets must be held in trust for a beneficiary until they reach a certain age or meet other conditions such as after they graduate from high school or finish college, and more.
How To Create A Living Trust
To create a living trust, the grantor must execute a trust document and transfer their assets into the trust. The trust document will specify the terms of the trust, including who the trustee will be, how the assets in the trust will be managed and distributed, and what happens if the grantor becomes incapacitated.
Comprehensive, Holistic Approach to Planning Through Personal Care, Support, and Education
Nationally Board Certified as an Elder Law Attorney by the National Elder Law Foundation
Specialized Workshops Offered Throughout the Year to Support You and Your Family