During life, most individuals like to have at least some modicum of control over their affairs. Because the idea of not having control can seem extremely unsettling to some Michigan residents, many of those parties like to plan ahead for various scenarios. Luckily, estate planning can prove useful to people hoping to maintain control over how their estates are handled even after death.
With an estate plan, individuals can determine what type of tools will allow them to express their wishes in the best manner. A will is often the most familiar type of document, and creating a will can allow parties to address assets, name guardians for minor children and detail other important wishes regarding an estate. Additionally, people can explore other planning tools, such as trusts, to determine whether such documents could bolster their plans.
Planning can also help parties ensure that the right individuals inherit the desired property. A carefully crafted plan can make sure that assets stay within the family. Furthermore, individuals can make specific stipulations for inheritances for loved ones with special needs or for other circumstances that require consideration.
If individuals do not want their estates left up to chance after death, they may wish to ensure that their estate plans encompass their desires and instructions. By finding out information on estate planning tools and options, interested Michigan residents may feel more confident in their abilities to create meaningful plans. Experienced attorneys can also help parties looking for assistance make sure that they cover all desired areas during their preparations.
Source: wilmingtonbiz.com, “Top 10 Reasons To Consult An Elder Law Attorney“, Kara Gansmann, July 5, 2017