Have you ever found yourself typing “estate planning attorney near me” in your browser’s search bar? If so, you’ve likely got a few questions about your future. Too many people fail to create adequate plans for their old age and wish they could go back and take the proper steps.
For Michigan residents, an experienced estate planning attorney at Rutkowski Law Firm: Asset Protection & Estate Planning answers the most frequently asked estate planning questions, below.
Estate planning involves various legal actions that allow you to make arrangements for your future, including your long-term care, health needs, and financial needs, as well as what will happen after your death, including designating who will manage estate settlement and receive your assets.
Many people assume that estate planning is only for the extremely wealthy. However, all people need to be concerned about their possessions and health directives, not just those who are affluent. Estate planning helps ensure that everything you’ve worked hard for throughout your life will be respected.
An estate plan allows you to make decisions on many important aspects of your life. This plan might include:
Since estate planning is such a wide blanket term, you can choose many options to cover your needs. Most people consider the following legal procedures when generating their plans.
After typing in your search for an “estate planning attorney near me,” you probably found information about wills and trusts. What’s the difference between the two?
A will is a written document that allows you to express your wishes for what will happen to your assets after you die. Many people fail to realize that their loved ones cannot accept bequests immediately; instead, they must wait through probate. Probate is a lengthy public court process that verifies and sanctions everything in your will.
How can you avoid the time and expenses of probate? Creating a trust will also allow you to decide who will receive your wealth, but the trust (which is an entity separate from your personal identity) actually takes ownership of your property titles so that after your death, your loved ones can receive their items without going through probate.
Estate plan attorneys assist you in creating all of the documents mentioned thus far. You can talk to them about your financial situation, health needs, and other wishes, and they will help you create a game plan for what legal actions you should take. Estate Planning Basics: An Introduction to Estate Planning Concepts and Tools, an online booklet written by Rutkowski Law Firm: Asset Protection & Estate Planning, provides more details.
No, it’s never too late to start. In fact, starting early is wise. Planning your estate is an ever-evolving process that you can add to throughout your life. Before you turn 60, we recommend meeting with a law office that offers estate planning practice areas well to begin getting your plans in place. But even if you’re older, you can create an estate plan.
Rutkowski Law Firm | Asset Protection & Estate Planning serves clients throughout Michigan. Our mission is to help protect everyone you love and everything you own through thoughtful planning.
Call us today at (248) 792-9193, or fill out our online form to schedule a consultation. We operate virtually through Zoom, so you can meet with us from the comfort of your home.
Copyright © 2022. Rutkowski Law Firm: Asset Protection & Estate Planning. All rights reserved.
The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.
Rutkowski Law Firm: Asset Protection & Estate Planning
40950 Woodward Ave #130
Bloomfield Hills, MI 48304
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