Estate Planning
Our firm provides legal advice and services to individuals to help them plan and carefully prepare for their future.
We represent clients regarding:
- Goals and Purpose: We review a client’s assets and provide analysis and recommend the best structure and approach to achieve their goals
- Focus on Business Assets: An integral part of the process requires that we provide alternative methods to deal with an individual or family's business assets to achieve a structure that is carries out the intentions of each generation and balance the impact of various government tax structures.
- Planning Solutions to Reduce the Federal Estate Tax Exposure: Using techniques that have been proven effective and applying the law to the client's unique needs, we examine ways to achieve goals that also reduce taxes.
- Creation of Insurance Trusts: Identifying the ownership of policies and carefully transferring those policies to trusts to achieve the client's goals and remove a potentially large estate tax exposure. These trusts can dispose of assets in an almost identical fashion as testamentary trusts.
- Will and Trust Drafting: Achieving the interests of the Testator and the family through careful drafting resolves many issues that families may face in finding a way to dispose of assets.
- Advance Directives: Michigan permits a great deal of flexibility in deciding what level of care one wants in their last illness and who decides when and how to provide nourishment and other medical needs.
Powers of Attorney and Powers of Appointment: These are further planning tools in the appropriate setting. Powers of Attorney give flexibility to individuals who travel or who otherwise need people to act on their behalf and powers of appointment are an exceptional planning tool to pass on an interest in property to another generation in the future, when the appropriate circumstances present themselves.