Michigan Attorneys Specializing in Estate Planning
It is a common and potentially costly misconception that a Last Will and Testament is the only document needed to protect your assets after death. While this is an important component of your estate plan, it simply directs the disposition of your assets upon death and has no effect on either probate or estate taxes.
A competent and well-thought-out estate planning is not just for the wealthy. You do not need to own a massive estate to benefit from creating a sound financial plan or to realize some of the advantages that were once reserved for the richest Americans.
Whether or not you realize it, you already have an estate, which is merely another way of describing your total assets. The wealth you’ve accumulated so far, and that which you may have in the future, can be subject to a wide array of forces and laws. While careful investing and money management can help you attain wealth, certain changes in the tax laws can expose your assets to many vulnerabilities that a qualified estate planning attorney can anticipate and help you avoid.
Our estate planning attorneys at Mihelich & Kavanaugh, PLC will guide you through the maze of available plans and options available, no matter your wealth level. Securing your family’s future by protecting your assets should be a high priority.
A sound estate plan will take into consideration both your desire to protect your assets and your plans for their inheritance. You do not need to be listed in Fortune Magazine to be concerned about making sure that your assets are distributed according to your wishes.
The perfect estate plan, above all else, is personal. An experienced estate planning attorney can do more than list your options. Knowing which plans and methods can best help you achieve your personal objectives and how to implement them separates excellent plans from merely functional ones. An increasing number of people each year in Michigan are subject to federal estate taxes, and there is an ever-increasing amount of family contention and litigation following a death. To make sure that your assets are secured, and that they will go to those you choose to receive them, requires a sound estate plan. No plan of this type can come about by accident, through non-attorney “trust services” or through internet forms and self-help software. Our qualified estate planning attorneys can help you achieve your goals and provide a solid plan to retain your assets.