Wills and Trusts
Real Estate Law
is the most "basic" estate planning document. All Wills are subject
Considered estate planning ensures that your assets will be distributed according to your wishes. By properly employing living trusts and joint ownership we can help you & your heirs avoid the long delays and substantial expense of going through Probate. There are also many tax benefits to avoiding Probate, and your Estate will not have to be approved and administered by the Probate Court.
LIVING OR REVOCABLE TRUSTS
is a document that transfers assets to your heirs while you are
still alive – however you (or someone you appoint) serve as the
"trustee" who controls the assets and retains the right to
amend (change) the terms of the transfer at any time. By putting your
assets into this type of "revocable trust" you avoid probate
administration of assets, as well as the substantial associated costs
and delays. Some advantages of Living Trusts include:
Property and assets that are "jointly owned" automatically pass to the surviving party upon the other person's death, and do not have to be administered or transferred through the Probate Court. Joint Ownership is accomplished by changing a deed, a title, or other document of ownership to include both parties. In many cases this is a very safe and effective way to avoid Probate. However, there can also be certain very substantial risks to joint ownership. If one of the joint-owners has debts or other liabilities, they may be putting the other party's financial interests at risk. Only an experienced estate planning attorney will be able to advise you if joint ownership is in your best personal & financial interests.
Our firm has handled numerous estates, saving our clients money in taxes and probate expenses.
Call us today for a free, no-obligation consultation to see how we can put together a unique estate plan that ensures that your financial needs and personal wishes are met.
Serving Oakland, Wayne, Macomb