We Believe in Protecting Families and Building Legacies
Everyone needs an estate plan.
Two things in life are certain, death and taxes, and oddly enough these two things go hand in hand. Every person needs an estate plan to protect their loved ones when the inevitable occurs. Estate planning is more than drafting a will, it focuses on handling the issues that are uncomfortable to think about such as unexpected death, incapacity or illness. Dealing with the passing of a loved one can be devastating, that is why it is so important to prepare before the unthinkable occurs.
Servicing Michigan, Reed Law understands the importance of planning for the future and that each individual requires a customized plan. Estate plans, wills, and trusts are very personal and should reflect your beliefs and values. Estate plans can be used to ensure the ongoing care and financial security of your loved ones or the preservation of an individual’s legacy. Reed Law can help you identify what is important to you and customize a personalized plan around what you hope to accomplish or protect.
Reed Law estate planning provides
- Wills and Trusts, including life insurance and real estate trusts
- Revisions of existing wills (codicils)
- Durable powers of attorney
- Living wills and designation of patient advocates
- Family business succession planning
- Guardianship and conservatorship
The power of a will and trust
Wills and trusts are essential, powerful tools that outline the designation of assets, assign guardianship over minor children, and provide instruction on how charitable gifts are to be handled. Having a properly prepared will and trust removes uncertainty and addresses individual issues specific to you. Generic form wills and trust are often poorly constructed and do not recognize your specific needs. An attorney should prepare your estate plan because your individual plan will:
- Be customized and designed to fit your specific needs
- Be done correctly the first time giving you peace of mind
- Provide a contact point for the family
- Help protect against probate taxes
- Have properly prepared living wills and patient advocate documentation.
Probate often is misunderstood when planning an individual estate plan. Most people are afraid of probate, however probate is simply designed to collect an individual’s assets once they have died to pay valid debts and distribute their remaining assets according with a will or by the laws of the state. Probate matters can be handled by an attorney and often include:
- Assisting with the preparation of required tax returns
- Trust administration
- Appointments of guardians or conservators
- Paying only legitimate debts
- Filing property notices to creditors
- Preparing an inventory of the estate assets
- Identification of heirs
- Probate litigation