‘Tis the Season to Plan Your Estate

It’s that time of year again!  The kids and grandkids are flying in and driving on by to share in the festivities of the season.  Families coming together to celebrate the holidays can make you think about whether or not you’ve made the right preparations the future.  A comprehensive Michigan Estate Plan with the right documents can put your mind at ease and make sure that you and yours are taken care of.  Here’s what you might want to include:

The Will – The Cornerstone of Michigan Estate Planning

Having a will is a great place to start when getting your affairs in order.  This document makes it easier for family to carry out your wishes by providing guidelines and detailed instructions for what you want to see happen with specific things in your possession.

Financial Power of Attorney

You are completely capable of balancing the checkbook right now, and might remain that way for a while, but you never know what might happen down the road.  There might come a time when you are unable to manage your finances for any number of reasons, but the bills will still need to be paid.  Designating at least one person as your Power of Attorney will ensure that someone will always be able to write the checks and do the banking for you.

Health Care Power of Attorney

Everyone wants to live forever and in perfect health.  Unfortunately, this isn’t a reality for everyone and there may come a time when someone has to make health-care related decisions for you.  This document allows you to choose people who you trust to be involved in your care. In Michigan, we call this a Patient Advocate Designation.

Trust

Both Living Trusts and Castle Trusts (asset protection trusts) can protect your assets from things like probate – the one you choose depends on your assets, exactly how you want them to be protected, and the specific directions you have for distributing them.

Already Have an Estate Plan?

It’s great if you already have a plan in place, but if it’s been a few years since you’ve signed your documents, it’s a good idea to have them looked over again.  Laws change and your documents might need to be adjusted accordingly.

Solid Estate Planning with The Elder Care Firm

When you are surrounded by family this holiday season, take a minute to be thankful for everything you have and think about how you can protect it for your family.  Whether you need a will or are looking for more asset protection with a trust-based estate plan, The Elder Care Firm will help you every step of the way.  At The Elder Care Firm of Christopher J. Berry, Esq., CELA, our professional staff will work with you and your family to make sure that your assets and your family’s future is protected no matter what lies ahead. Attend one of our free LifeCare Planning Workshops today.

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